BANKS/BANKING: Extends the time frame for authorized production or disclosure of financial records by banks. (8/1/24)

This bill extends the time banks have to produce financial records when responding to legal requests, increasing the required notice period from 15 to 30 business days. It also mandates that anyone requesting these records must pay the bank for reasonable costs, such as document reproduction and staff time, before the bank is required to release the information. If the requesting party and the bank disagree on the amount owed, the bank can withhold the records until a court determines the correct fee. These changes directly affect banks and the individuals or entities seeking access to their financial data.