76th OREGON LEGISLATIVE ASSEMBLY--2011 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 2851
 
                         Senate Bill 932
 
Sponsored by Senator SHIELDS; Senator DEVLIN
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
 
  Directs state public officials in depositing public funds to
give preference to depositories State Treasurer determines make
significant number of loans to small businesses in this state,
maintain certain ATM and overdraft fees, calculate overdraft fees
in manner beneficial to customers and engage in fair foreclosure
practices.
 
                        A BILL FOR AN ACT
Relating to financial institutions.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + Section 2 of this 2011 Act is added to and made
a part of ORS 295.001 to 295.108. + }
  SECTION 2.  { + (1) In depositing public funds in a depository
that has entered into a pledge agreement under ORS 295.008, a
state public official shall give preference to a depository that
the State Treasurer determines:
  (a) Makes a significant number of loans to small businesses in
this state;
  (b) Charges automated teller machine fees in this state in an
amount lower than ___;
  (c) Charges overdraft fees in this state in an amount lower
than ___;
  (d) Does not apply overdraft fees to the largest withdrawals
from a customer's account first and then to smaller withdrawals
that, absent the larger withdrawals would not be subject to an
overdraft fee, in an effort to charge the maximum number of
overdraft fees; and
  (e) Has a record of treating customers fairly and in compliance
with state and federal law with respect to real property
foreclosures.
  (2) As used in this section, 'automated teller machine' has the
meaning given that term in ORS 706.005. + }
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