Section 5-209 - Confidentiality of information. - Maryland Statutes

§ 5-209. Confidentiality of information.
 

(a)  Prohibited disclosures.- Except as otherwise provided in this article, the Commissioner, the employees of and the attorney for the Commissioner's office, and the members of the Banking Board may not disclose: 

(1) The name of any debtor of a banking institution; 

(2) Any information about the private accounts with or transactions of a banking institution; 

(3) Any information obtained in the course of examining a banking institution; or 

(4) Any confidential information obtained from a federal banking authority. 

(b)  Applicability.- This section does not apply to any information that a person discloses: 

(1) In performing a public duty to report on or take special action about the business of a banking institution; 

(2) In testifying as a witness in a criminal proceeding; or 

(3) In informing any director or authorized officer, employee, or agent of a banking institution under examination of the results of that examination. 

(c)  Disclosure to other agencies.-  

(1) As provided in this subsection, the Commissioner may give a federal banking authority a copy of any examination of a banking institution, a copy of any report made by the banking institution, and any other information that the Commissioner has about the banking institution. 

(2) The Commissioner may give the Federal Deposit Insurance Corporation information about a banking institution if: 

(i) The institution is insured by the Corporation; or 

(ii) The institution: 

1. Is applying for insurance from the Corporation; and 

2. Asks the Commissioner to do so. 

(3) The Commissioner may give the Federal Reserve Bank of Richmond information about a banking institution if: 

(i) The institution is a member of the Federal Reserve System; or 

(ii) The institution: 

1. Is applying for membership in the System; and 

2. Asks the Commissioner to do so. 

(d)  Status of disclosed information; subsequent disclosures.- Except as otherwise provided by law, all confidential information disclosed to any person as permitted under this section: 

(1) Remains the property of the Commissioner; and 

(2) May not be further disclosed by that person without the written permission of the Commissioner. 

(e)  Penalty for unauthorized disclosure.- Any person who violates any provision of this section is guilty of a misdemeanor and on conviction is subject to: 

(1) Forfeiture of the office or employment; and 

(2) A fine not exceeding $1,000 or imprisonment not exceeding 2 years or both. 
 

[An. Code 1957, art. 11, §§ 7, 22, 27; 1980, ch. 33, § 2; 1994, ch. 359; 1996, ch. 326, § 2.]