Financial institutions.

Existing law establishes the Department of Financial Institutions in the Business, Transportation and Housing Agency and provides that the department is in charge of the execution of specified laws relating to various financial institutions and financial services. Existing law requires the Commissioner of Financial Institutions to give public notice of specified final orders affecting the license of a licensee or foreign credit union. This bill would require the commissioner to also post the notice of specified orders affecting a licensee or foreign credit union on the department's public Internet Web site. The bill would authorize the commissioner to delay posting the decision or order if he or she makes a finding that such a posting would affect the safety or soundness of the financial institution subject to the order or decision. This bill would also authorize the commissioner to redact certain portions of the orders posted pursuant to these provisions if he or she determines that the redaction is necessary to protect the identity of a customer of the affected institution. This bill would also make technical changes to the Money Transmission Act.