HB3107

Missouri HB3107 protects financial institutions from civil liability if they act in good faith based on regulatory guidance.

Missouri HB3107 shields financial institutions from civil liability for actions taken in compliance with or in good faith reliance on regulatory guidance. This protection applies even if the guidance is later modified, rescinded, or deemed invalid. The bill defines "written guidance" as records developed by regulatory agencies, including notices, interpretative memoranda, and responses to inquiries. The protection does not apply if the financial institution's actions constitute fraudulent activity, intentional misconduct, or gross negligence.