12 U.S. Code § 3404 - Customer authorizations

(a) Statement furnished by customer to financial institution and Government authority; contents
A customer may authorize disclosure under section 3402 (1) of this title 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
The customer has the right, unless the Government authority obtains a court order as provided in section 3409 of this title, 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.

Source

(Pub. L. 95–630, title XI, § 1104,Nov. 10, 1978, 92 Stat. 3698; Pub. L. 96–3, Mar. 7, 1979, 93 Stat. 5.)
Amendments

1979—Subsec. (d). Pub. L. 96–3struck 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.

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12 USCDescription of ChangeSession YearPublic LawStatutes at Large

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

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12 CFR - Banks and Banking

12 CFR Part 4 - ORGANIZATION AND FUNCTIONS, AVAILABILITY AND RELEASE OF INFORMATION, CONTRACTING OUTREACH PROGRAM, POST-EMPLOYMENT RESTRICTIONS FOR SENIOR EXAMINERS

12 CFR Part 21 - MINIMUM SECURITY DEVICES AND PROCEDURES, REPORTS OF SUSPICIOUS ACTIVITIES, AND BANK SECRECY ACT COMPLIANCE PROGRAM

12 CFR Part 261 - RULES REGARDING AVAILABILITY OF INFORMATION

29 CFR - Labor

29 CFR Part 19 - RIGHT TO FINANCIAL PRIVACY ACT

31 CFR - Money and Finance: Treasury

31 CFR Part 14 - RIGHT TO FINANCIAL PRIVACY ACT

32 CFR - National Defense

32 CFR Part 275 - OBTAINING INFORMATION FROM FINANCIAL INSTITUTIONS: RIGHT TO FINANCIAL PRIVACY ACT OF 1978

32 CFR Part 504 - OBTAINING INFORMATION FROM FINANCIAL INSTITUTIONS

39 CFR - Postal Service

39 CFR Part 233 - INSPECTION SERVICE AUTHORITY

 

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