H 4355 General Bill, By T. Brown
 A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION
 34-3-430 TO ARTICLE 5, CHAPTER 3, TITLE 34 SO AS TO REQUIRE ANNUAL PUBLICATION
 OF CERTAIN BANK STATEMENTS, REPORTS, EVALUATIONS, AND OTHER INFORMATION.

   12/15/99  House  Prefiled
   12/15/99  House  Referred to Committee on Labor, Commerce and Industry
   01/11/00  House  Introduced and read first time HJ-432
   01/11/00  House  Referred to Committee on Labor, Commerce and
                     Industry HJ-432

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 34-3-430 TO ARTICLE 5, CHAPTER 3, TITLE 34 SO AS TO REQUIRE ANNUAL PUBLICATION OF CERTAIN BANK STATEMENTS, REPORTS, EVALUATIONS, AND OTHER INFORMATION.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Article 5, Chapter 3, Title 34 of the 1976 Code is amended by adding:

"Section 34-3-430. (A) At least annually, the State Board of Financial Institutions shall gather information that each federal and state-chartered bank discloses and make that information available to the public by way of publication in a newspaper of general circulation in every county in which that bank maintains an office or branch. That information includes, but is not limited to:

(1) federal community reinvestment act statements;

(2) federal community reinvestment evaluations;

(3) public or private studies of community lending data pursuant to the federal Home Mortgage Disclosure Act if available;

(4) public or private studies of agreements between banks and community organizations if available;

(5) concentration of banking assets for individual banks and for all banks controlled by a holding company;

(6) loan portfolio mix and loan-to-deposit ratios for each bank;

(7) number of branches, offices, and off-premises electronic facilities;

(8) profitability of each bank;

(9) other information the board considers necessary.

(B) The publication of information must be preceded by a published 'Notice of Publication of Banking Community Reinvestment Performance' thirty days before the information is published.

(C) Annually, the board shall report to the General Assembly a summary of information the board gathers pursuant to this section regarding community reinvestment performance and banking trends that affect economic development."

SECTION 2. This act takes effect upon approval by the Governor.