HB529 Alabama 2013 Session

Updated Feb 24, 2026

Summary

Primary Sponsor: Mike Hill
Republican
Session: Regular Session 2013
Title: Banks, bank holding companies and related entities, further defined, standards for examination by State Banking Department, regulation of credit exposure, Secs. 5-2A-8, 5-3A-1, 5-3A-3, 5-3A-11 am'd.
Summary: HB529 broadens Alabama’s banking oversight by expanding examination authority, clarifying definitions, and strengthening confidentiality of examination information.
What This Bill Does
The superintendent may issue regulations and written interpretations of banking laws, with the assurance that those relying on them remain protected even if later invalidated. It expands supervision to include non-national banks, bank holding companies, and their affiliates or bank service companies, requiring examinations at least every 18 months and allowing additional examinations when needed for safety and soundness. It refines the definition of 'affiliate' and tightens confidentiality for examination reports and related materials, while permitting disclosure to the Banking Board and certain federal regulators for enforcement purposes; the act takes effect immediately upon the governor’s signature.

Who It Affects
State banks (excluding national banks), bank holding companies, and their affiliates or bank service companies operating in Alabama: become subject to supervision, regular examinations, and broader oversight under the State Banking Department.
Regulators and enforcement bodies (State Banking Department, Banking Board, and certain federal banking agencies): gain authority to issue regulations and interpretations and to receive and use examination reports for supervision and enforcement, subject to confidentiality rules.

Key Provisions
Regulatory authority and reliance protection: The superintendent may promulgate regulations and issue written interpretations of banking laws; individuals relying on these regulations or interpretations are fully protected even if later deemed invalid by a court (5-2A-8).
Expanded examination and confidentiality framework: Non-national banks, bank holding companies, subsidiaries/affiliates, and bank service companies can be examined by the superintendent; the bill defines 'affiliate' and sets strict confidentiality for examination reports and related information, with possible sharing to the Banking Board and federal regulators for enforcement (5-3A-1, 5-3A-3, 5-3A-11).

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Banks and Banking