General information

State Treasurer’s Office Makes Unusual Request of Banks
June 9, 2014

The State Treasurer’s Office (STO) sent a request to all banks through the Department of Business Oversight in an effort to locate bank accounts held by state agencies or departments. Institutions are to provide certain account information directly to the STO by July 22. The request does not comply with the California Right To Financial Privacy Act and thus puts banks in a sensitive position. See CBA’s Regulatory Compliance Bulletin for more information.