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Mo. bank regulators go to court over subpoena

Mo. bank regulators go to court over subpoena

May 20th, 2011 in News

JEFFERSON CITY, Mo. (AP) - Missouri's banking regulators want the courts to help determine if they must release documents for a state audit.

Auditor Tom Schweich (shwyk) has subpoenaed records from the Division of Finance. But the division says it's barred by law from complying and that workers who release the documents could lose their jobs or be prosecuted.

The Division of Finance has now asked a judge to declare that the subpoena can be ignored. Otherwise, the division wants a declaration that releasing the records would not violate confidentiality requirements.

The auditor's won't enforce the subpoena until there's a ruling. The office says a preliminary review found problems in the division and that it needs access to more documents to determine if there are further issues.