SECTION 23A. Financial institutions; request for deposit and withdrawal records; penalty

Upon written request signed by an authorized employee or agent of the division, the treasurer of a financial institution shall provide, without charge, the deposit and withdrawal records of the preceding 5 years for an applicant for or recipient of medical assistance under this chapter to any authorized employee or agent of the division or to the applicant or recipient. A treasurer who unreasonably refuses to provide these records within the time limit provided in the request or who willfully provides false information in the reply shall forfeit $50 to the commonwealth.

For the purposes of this section, ''financial institution'' shall mean a national bank, federal savings bank, federal savings and loan association or federal credit union, if such bank, association or credit union is authorized to transact business and has its main office or a branch office in the commonwealth; or a trust company, credit union, co-operative bank or savings bank, if such company, credit union or bank is organized and exists under the laws of the commonwealth or any other state of the United States or is otherwise authorized to do business in the commonwealth and has its main office or a branch office in the commonwealth; or a benefit association, insurance company or safe deposit company authorized to do business in the commonwealth.