HB 17-1218

HB 17-1218, a Colorado bill that has been signed into law, allows the state's banking board and bank commissioner to share confidential information about banks, trust companies, and money transmitters with similar regulatory agencies in other states or U.S. territories. This sharing is conditional on those agencies also keeping the information private and sharing their own data similarly. The law aims to improve cooperation between different states' financial regulators to better oversee these institutions. Since it has been signed, this bill is now active law that affects how Colorado's banking regulators can collaborate with others across state lines.

Official Summary

The bill allows the banking board and the state bank commissioner to share records and other information about banks, trust companies, and money transmitters with banking or financial institution regulatory agencies of other states or United States territories if the governmental agency is required to maintain the confidentiality of the records and shares similar information with the division of banking. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

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