Right To Financial Privacy Act

The Right to Financial Privacy Act protects a customer's right to know of attempts by the government to obtain his financial records, including the following:

§ 3404(c) gives the customer the general right "to obtain a copy of the record which the financial record 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."

§ 3405(2) requires the customer to be served with a copy of any administrative subpoena or summons utilized to obtain financial records.

§ 3406(b) requires the customer to be mailed a copy of a search warrant used to obtain financial records within 90 days of the date of the service of such search warrant.

§ 3407(2) requires a copy of any judicial subpoena to be served upon the customer or mailed to his last known address on or before the date on which the subpoena was served on the financial institution.

§ 3408(4) requires a copy of a formal written request by any governmental authority requesting financial records to be served upon the customer or mailed to his last known address on or before the date on which the request is made to the financial institution.

§ 3412(b) requires notice to the customer that the agency that originally procured the records is transferring the records to another governmental agency or department, a practice which is generally prohibited by the Act "unless the transferring agency or department certifies in writing that there is notice to believe that the records are relevant to a legitimate law enforcement inquiry within the jurisdiction of the receiving agency or department."

See In re Castiglione, 587 F. Supp. 1210, 1213 (E.D. Cal. 1984).

Some States also have their own versions of a financial privacy act. For example, Tennessee has the Financial Records Privacy Act, T.C.A. §§ 45-10-101, et seq.