Provides relative to disclosure of financial records
Summary
HB 91 amends Louisiana law governing when banks may disclose financial records in response to a disclosure demand. The bill requires the requesting party to satisfy specified notice and service conditions before a bank may release records, including an affidavit certifying that service was made at least 30 business days before the return date. It also requires that banks be given at least 30 business days to complete the work needed to produce the records.
The bill further clarifies that, before any disclosure is made, the requesting party must reimburse the bank for reasonable fees and costs associated with compliance. Those costs may include reproduction, research, processing, personnel, and travel expenses, whether incurred internally or through outside service providers. If the parties disagree about the amount, the bank may withhold production until the issuing court or other appropriate body sets the reimbursement amount, and the court may hold a contradictory hearing to resolve the dispute.
Impact
HB 91 amends R.S. 6:333(C)(2)(b) and (G), strengthening procedural protections for banks responding to subpoenas or other disclosure demands for financial records. It adds timing and affidavit requirements for the requesting party, extends the minimum time banks have to comply, and expressly overrides contrary provisions in other cited laws to the extent they conflict with the reimbursement requirement. The practical effect is to shift more of the administrative burden and cost of record production to the requesting party, while giving banks clearer grounds to delay production until notice and payment conditions are met.
Sentiment
The bill appears to have been broadly supported and noncontroversial. It passed the House 89-0 and the Senate 37-0, indicating unanimous approval in both chambers. The lack of recorded opposition or committee transcript discussion suggests the measure was viewed as a technical or procedural clarification rather than a politically divisive policy change.
Contention
No significant contention is reflected in the available record. The main policy issue embedded in the bill is whether banks should be required to produce financial records only after advance notice and reimbursement of costs, but the unanimous votes suggest little disagreement over that approach. If any concern existed, it would likely have centered on balancing access to financial records for litigation or other proceedings against the administrative burden and expense imposed on banks.