12 U.S.C. § 3404 — Customer authorizations
submitted 48 years ago by Pub. L. 95-630 to r/title-12-BANKS-AND-BANKING · 216 words · no verdicts yet
A customer may authorize disclosure of specified financial records for no more than three months through a signed, dated statement. The authorization cannot be required to do business, and the customer generally may obtain the institution’s disclosure log.
(a) To authorize disclosure under section 3402(1), the customer must give the institution and requesting authority a signed, dated statement that (1) authorizes disclosure for no more than three months; (2) says the customer may revoke it before disclosure; (3) identifies the records; (4) states the purpose and receiving authority; and (5) states the customer’s rights under this chapter. (b) The authorization may not be required as a condition of doing business with a financial institution. (c) Unless the authority gets a section 3409 court order, the customer may obtain a copy of the institution’s record of every disclosure under this section, including the receiving authority’s identity.
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—
authorizes such disclosure for a period not in excess of three months;
states that the customer may revoke such authorization at any time before the financial records are disclosed;
identifies the financial records which are authorized to be disclosed;
specifies the purposes for which, and the Government authority to which, such records may be disclosed; and
states the customer’s rights under this chapter.
No such authorization shall be required as a condition of doing business with any financial institution.
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 credit: (Pub. L. 95–630, title XI, § 1104, Nov. 10, 1978, 92 Stat. 3698; Pub. L. 96–3, Mar. 7, 1979, 93 Stat. 5.)
- 1978Enacted · Pub. L. 95-630 · 92 Stat. 3698
- 1979Amended · Pub. L. 96-3 · 93 Stat. 5
A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-630 on 1978-11-10.
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