Section 190.730  Consideration of Requests

a)         Standards for the Disclosure of Confidential Supervisory Information.

1)         When making a determination with respect to the disclosure of confidential supervisory information, the Secretary will consider the following standards:

A)        the confidential supervisory information identified in the request is relevant;

B)        a compelling need exists;

C)        if the requested confidential supervisory information is to be used in connection with an adversarial matter (filed lawsuit or administrative action) has been filed;

D)        the production and disclosure of the confidential supervisory information is not unduly burdensome to the Department; and

E)        whether disclosure will benefit the credit union.

2)         In determining whether to disclose the requested confidential supervisory information, the Secretary may inquire into the circumstances of any case underlying the request and rely on sources of information other than the requester, including other parties.

b)         Time Required by the Secretary to Respond.  The Secretary, within 15 days after receipt of a complete request, will determine whether to disclose the requested confidential supervisory information.  If the request is not complete, the Secretary shall notify the requester of the required information that has not been previously provided.

c)         Notice to Other Parties.  Following receipt of a complete request for confidential supervisory information, the Secretary may notify the person that is the subject of the requested information, unless the Secretary determines that doing so would advantage or prejudice any of the parties in the matter at issue.

(Source:  Added at 46 Ill. Reg. 18508, effective November 1, 2022)