(at the request of Governor Theodore R. Kulongoski for Department of Consumer and Business Services)
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Bill Title:
Relating to financial regulation; and declaring an emergency.
Catchline/Summary:
Authorizes Director of Department of Consumer and Business Services to set different fees for different financial institutions and to share information with Financial Crimes Enforcement Network established by order of United States Secretary of Treasury. Authorizes Director of Department of Consumer and Business Services to set different fees for different financial institutions and to share information with federal agencies that regulate financial institutions] Financial Crimes Enforcement Network established by order of United States Secretary of Treasury.
Authorizes director to determine finance charge for consumer loans on date preceding calendar year in which finance charge will apply. Removes requirement to post consumer finance license application for 30 days.
Gives director authority to oversee financial holding companies and bank holding companies.]
Broadens authority of director to issue cease and desist order to include instances involving violations of federal regulations.
Repeals regulations governing savings associations.
Declares emergency, effective on passage.
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HB 2199
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