Financial Institutions Law: annual report: overdraft.

Existing law, the Financial Institutions Law, requires the Commissioner of Financial Protection and Innovation to cause every California state bank and every foreign bank to be examined to the extent and whenever and as often as the commissioner shall deem it advisable, but in no case less frequently than once every 12 months, except as prescribed. Existing law, the California Credit Union Law (CCUL) , authorizes the commissioner to, at any time, investigate into the affairs and examine the books, accounts, records, files, and any office within or outside of this state used in the business of every credit union, whether it acts or claims to act under, or without authority of, the CCUL. This bill would require a bank or credit union subject to the examination authority of the commissioner to report annually, on or before March 1, to the commissioner on the amount of revenue earned from overdraft fees and nonsufficient funds fees collected in the most recently completed calendar year and the percentage of that revenue as a proportion of the net income of the bank or credit union. The bill would require the commissioner to publish, as prescribed, in a report the data for each bank or credit union reported pursuant to the bill and make the report available on the department's internet website.