# ORS § 706.515: 706.515 Agreements with other bank supervisory agencies and Financial Crimes Enforcement Network > Oregon · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.515 ## Section - **Citation:** ORS § 706.515 - **Heading:** 706.515 Agreements with other bank supervisory agencies and Financial Crimes Enforcement Network - **Jurisdiction:** Oregon - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** OR Code / Title 53 / Chapter 706 / Section 706.515 ## Text (1) The Director of the Department of Consumer and Business Services may enter into cooperative, coordinating and information sharing agreements with other bank supervisory agencies, with the Financial Crimes Enforcement Network established by order of the United States Secretary of the Treasury or with an organization affiliated with or representing one or more bank supervisory agencies. The director may enter into the agreements in order to examine or supervise a non-Oregon institution branch or other office or place of business located in this state or to examine or supervise a branch of a banking institution located in another state. The director may accept an agency report made pursuant to an agreement entered into under this section in lieu of the director’s own examination or investigation. The agreement may resolve conflicts of laws and specify the manner in which examination, supervision and application processes will be coordinated between this state and the home state of the non-Oregon institution. (2) The director may enter into a contract with a bank supervisory agency that has concurrent jurisdiction over a banking institution or non-Oregon institution operating a branch or other office or place of business in this state to engage the services of the agency’s examiners at a reasonable rate of compensation or to provide the services of the director’s examiners to the agency at a reasonable rate of compensation. The contract is exempt from competitive bidding requirements under the provisions of ORS chapters 279A and 279B. The contract may resolve conflicts of laws and specify the manner in which examination, supervision and application processes will be coordinated between this state and the home state of the non-Oregon institution. (3) The director may enter into joint examinations or joint enforcement actions with other bank supervisory agencies that have concurrent jurisdiction over a non-Oregon institution branch or other office or place of business located in this state or a branch of a banking institution located in another state. Conducting a joint examination or enforcement action under this section does not prevent the director from conducting an independent examination or enforcement action at any time if the director determines that carrying out the director’s responsibilities or ensuring compliance with the laws of this state requires the independent action. With respect to examinations or enforcement actions that involve non-Oregon institutions, the director shall recognize: (a) The exclusive authority of the banking supervisory agency of the home state or country of the non-Oregon institution over corporate governance matters; and (b) The primary responsibility of the banking supervisory agency of the home state or country of the non-Oregon institution over safety and soundness matters. (4) The director may share fees collected from non-Oregon institutions under the provisions of the Bank Act with another bank supervisory agency or an organization affiliated with or representing one or more bank supervisory agencies in accordance with agreements between the agency or organization and the director. [1997 c.631 §27; 2003 c.794 §323; 2009 c.541 §29] Source: Section 706.515 — Agreements with other bank supervisory agencies and Financial Crimes Enforcement Network; contracts for use of bank examiners; joint examination or enforcement; fees , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025). ## Nearby sections - [ORS § 706.005 706.005 Definitions for Bank Act](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.005.md) - [ORS § 706.008 706.008 Additional definitions for Bank Act](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.008.md) - [ORS § 706.015 706.015 Bank Act references to federal statutes and regulations](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.015.md) - [ORS § 706.500 706.500 Examination of banking institutions and non-Oregon institutions](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.500.md) - [ORS § 706.515 706.515 Agreements with other bank supervisory agencies and Financial Crimes Enforcement Network](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.515.md) - [ORS § 706.520 706.520 Request by directors or stockholders for examination](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.520.md) - [ORS § 706.530 706.530 Annual fees paid by banking institutions and non-Oregon institutions](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.530.md) - [ORS § 706.544 706.544 Costs for special examination or other actions taken](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.544.md) - [ORS § 706.560 706.560 Appraisal of securities and audit](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.560.md) - [ORS § 706.570 706.570 Requirement that banking institution keep books and accounts](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.570.md) - [ORS § 706.575 706.575 Certificate as evidence that document is filed with director](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.575.md) - [ORS § 706.578 706.578 Establishment of loan production office](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.578.md) - [ORS § 706.580 706.580 Illegal, unauthorized or unsafe practices](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.580.md) - [ORS § 706.600 706.600 Authority to protect creditors and depositors of banking institution or non-Oregon institution](https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.600.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_OR_T53_C706_S706.515. Check the current official text before relying on it. Not legal advice.