§3402 — Title 12 Banks and Banking | U.S. Code

Summary

Government authorities cannot view or copy a customer's financial records from a bank or other financial institution. They may only get clearly described records if one of these applies: the customer agrees under section 3404; an administrative subpoena/summons under 3405; a search warrant under 3406; a court subpoena under 3407; or a formal written request under 3408. The rule does not apply where sections 3403(c) or (d), 3413, or 3414 allow access.

Title 12, §3402

Banks and Banking — Source: USLM XML via OLRC

Except as provided by section 3403(c) or (d), 3413, or 3414 of this title, no Government authority may have access to or obtain copies of, or the information contained in the financial records of any customer from a financial institution unless the financial records are reasonably described and— (1)

(2)such financial records are disclosed in response to an administrative subpena or summons which meets the requirements of section 3405 of this title;

(3)such financial records are disclosed in response to a search warrant which meets the requirements of section 3406 of this title;

(4)such financial records are disclosed in response to a judicial subpena which meets the requirements of section 3407 of this title; or

(5)such financial records are disclosed in response to a formal written request which meets the requirements of section 3408 of this title.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective upon the expiration of 120 days after Nov. 10, 1978, see section 2101 of Pub. L. 95–630, set out as a note under section 375b of this title.

§3402 Access to financial records by Government authorities prohibited; exceptions

Summary

Title 12, §3402

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Effective Date

Citations & Metadata