12 U.S.C. § 3404 | Customer authorizations

(a)

Statement furnished by customer to financial institution and Government authority; contents

section 3402(1) of this titleA customer may authorize disclosure under if he furnishes to the financial institution and to the Government authority seeking to obtain such disclosure a signed and dated statement which—

(1)

authorizes such disclosure for a period not in excess of three months;

(2)

states that the customer may revoke such authorization at any time before the financial records are disclosed;

(3)

identifies the financial records which are authorized to be disclosed;

(4)

specifies the purposes for which, and the Government authority to which, such records may be disclosed; and

(5)

states the customer’s rights under this chapter.

(b)

Authorization as condition of doing business prohibited

No such authorization shall be required as a condition of doing business with any financial institution.

(c)

Right of customer to access to financial institution’s record of disclosures

section 3409 of this titleThe customer has the right, unless the Government authority obtains a court order as provided in , to obtain a copy of the record which the financial institution shall keep of all instances in which the customer’s record is disclosed to a Government authority pursuant to this section, including the identity of the Government authority to which such disclosure is made.

Pub. L. 95–630, title XI, § 1104Nov. 10, 197892 Stat. 3698 Pub. L. 96–3Mar. 7, 197993 Stat. 5(, , ; , , .)

Editorial Notes

Amendments

Pub. L. 96–31979—Subsec. (d). struck out subsec. (d) which had directed that all financial institutions promptly notify all of their customers of their rights under this chapter, that the Board of Governors of the Federal Reserve System prepare a statement of customers’ rights under this chapter, and that the supplying of such a statement to their customers by the financial institutions be deemed compliance with the notification requirement.

Statutory Notes and Related Subsidiaries

Effective Date

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