To amend the Federal Deposit Insurance Act and the Federal Credit Union Act to safeguard confidential banking and credit union information, and for other purposes.

Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to establish a privileged status for confidential supervisory information. Declares such information to be the property of the Federal banking agency that created or requested it.

Prohibits the disclosure of such information without prior authorization of the appropriate Federal banking agency.

Places certain State and foreign supervisory information which is subject to a domestic motion to compel production or disclosure within the same privileged status as information of Federal banking agencies.

Precludes the use of subpoena or other process to obtain such information. Permits disclosure requests to the appropriate Federal banking agency.

Grants Federal courts exclusive jurisdiction for actions to compel information disclosure. Prescribes judicial, rulemaking, and notice procedures.