Survey of Information Sharing Protections

Background 

The Information Sharing Protection Task Force (Task Force), formed from 2020 to 2022, assembled representatives from all five CSBS districts, large and small states, states with very protective statutes and states with sweeping open record laws. The group was led by the Non-Depository Supervisory Committee (NDSC) chair and supported by CSBS’ General Counsel and staff. The Task Force’s purpose was to examine and determine the best ways to protect information shared among the States to the greatest extent possible. 

Over two years, the group developed guidance on State and non-State information sharing among States that is (a) protected from disclosure in accordance with the Federal Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) and potentially state SAFE Act enabling legislation, and (b) potentially not protected under the SAFE Act (e.g., Board materials).  

Two resources are available for regulator use: a 50-state survey of information sharing provisions and a draft memorandum on the SAFE Act. 

State Survey of Information Sharing Protections and Maps

The State survey is broken into the below state maps by industry: Banking, Consumer Finance, Money Service Business, and Mortgage.  Color shading represents the ranking of states confidentiality provisions, from weakest to strongest (based on the term “weaker” which appears in 12 USC 5111(c)).  The rankings were developed to reflect the relative strength of state non-disclosure privileges in circumstances of pending public information requests, including the scope of such privileges for each activity from which CSBS/SRR develops or receives confidential information (i.e., examinations, licensing, enforcement actions, or other activities).

Rankings are intended for use by CSBS and its constituents in evaluating and labeling information. CSBS Staff will periodically review and update the survey in consultation with the state agencies. To submit feedback on the survey, including questions about exemptions or to provide updates click on the tab titled, “Provide Feedback Here”. Alternatively, for assistance contact Emily Matson or Buz Gorman. 

SAFE Act Draft Memorandum 

This draft memorandum addresses the effect of the SAFE Act on the confidentiality of information shared with state or federal regulatory officials with mortgage or financial services industry oversight. This memorandum also addresses the scope of information or material to which the confidentiality provisions of the SAFE Act apply. Accessing this document requires logging in to CSBS.org.

Access the Full Survey Data Here.

Access the SAFE Act Memo Here.

Need help? Contact Emily Matson or Buz Gorman

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