Louisiana 2012 Regular Session

Louisiana Senate Bill SB379

Introduced
3/12/12  

Caption

Provides relative to the powers and duties of the commissioner of the office of financial institutions. (8/1/12)

Impact

The passage of SB 379 would enable a streamlined process for the commissioner to access necessary criminal history checks, which could significantly improve the regulatory framework governing financial institutions. By requiring the submission of fingerprints and other identifying information from individuals, the bill facilitates more thorough screening, which can prevent individuals with relevant criminal backgrounds from holding positions of authority within financial organizations. This change could strengthen trust in the financial sector and provide better protection for consumers.

Summary

Senate Bill 379 aims to amend existing laws regarding the powers and duties of the commissioner of the office of financial institutions in Louisiana. Specifically, the bill enhances the commissioner's authority to obtain criminal history record information for individuals associated with financial institutions. This regulatory change is intended to ensure that the applicable regulatory body can perform due diligence in screening individuals in positions of financial authority, thereby enhancing the safety and security of financial operations within the state.

Sentiment

The sentiment surrounding SB 379 appears to be generally supportive, especially among those in favor of increased regulation of financial institutions. Advocates argue that the bill's implementation could serve as a proactive measure to mitigate risk associated with financial operations. However, there may also be concerns about the implications for individuals who could face barriers to employment due to past criminal histories, which could introduce a divide in opinions based on perspectives of regulatory needs versus individual rights.

Contention

While proponents highlight the necessity of enhanced regulatory oversight in the financial sector, there may be points of contention regarding how broadly the commissioner's authority is applied. Critics of stronger regulations could argue that such measures might hinder opportunities for reform or rehabilitation of individuals with prior criminal records. Discussions may ensue on the balance between ensuring safety and enabling second chances for those seeking employment in financial institutions.

Companion Bills

No companion bills found.

Previously Filed As

LA SB316

Provides for the use of a power of attorney at a financial institution. (8/1/12)

LA H0431

Financial Institutions

LA HB303

Provides for fingerprinting for criminal history background checks for employment in a financial institution

LA SB87

Provides relative to the disclosure of records of the Office of Financial Institutions to state or federal licensing or investigative agencies. (8/15/11)

LA SB154

Provides with respect to the expungement of juvenile records. (8/1/12)

LA SB111

Authorizes the Louisiana Board of Pharmacy and the office of financial institutions to access expunged records under certain circumstances. (8/1/12)

LA SB19

Provides relative to criminal history record information obtained by the Louisiana State Board of Medical Examiners. (8/1/19) (EN SEE FISC NOTE SD EX See Note)

LA HB3269

Reorganizing the Board of Banking and Financial Institutions, the Division of Financial Institutions, and the Lending and Credit Rate Board

LA HB4780

Reorganizing the Board of Banking and Financial Institutions, the Division of Financial Institutions, and the Lending and Credit Rate Board

LA HB343

Financial institutions; regulation of money transmitters, penalty.

Similar Bills

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CA AB2009

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