Make data accessible

Every state government has a department that oversees the banks within its borders. These departments are required to file an annual report providing information about the state’s banks. The reports should be easily accessible. Arkansas’ state bank department does not publish most of its annual reports online. While the Freedom of Information Act gives citizens the right to access information from the federal government, the law does not require state governments to make their data available.

These annual reports provide important information about Arkansas’ economy. Most banks in Arkansas focus on small-business lending and mortgages. The reports depict the financial soundness of these banks. They show financial information for each entity as well as the number of banks in a given year. This information is important because it reflects Arkansas’ ability to support banks. Gaining access to a history of these reports would allow citizens to observe what is occurring over time. For example, if we see a quick decline in the number of banks, it will become evident that we need to change our banking policies.

Most state bank departments have reports back to at least 2007 available online. Arkansas only has the past two years available. When the state bank department uploads a new report, it takes down an old one. A simple solution would be to scan the hard copies of the reports and make them available to the public. They contain important information that may help citizens hold government officials accountable for their performance. HANNAH JAMES

Monticello