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More On Subpoenas…Non-disclosure
As we mentioned in a previous issue, in most cases subpoenas are served on the financial institutions and, at the same time, a copy is sent to the customer who is the subject of the subpoena. This is done so that the customer has a right to "quash" the subpoena-that is, to petition the court to reverse the order and prohibit the records being produced.
There is one very important exception.
In the case of a Federal Grand Jury subpoena, there may be a non-disclosure letter accompanying the subpoena. This subpoena is sent only to the financial institution and the customer is NOT to be informed of its existence. No copy is sent to the customer. There can be serious consequences if the customer is informed by the bank of the service of the subpoena and/or the production of records.
Copyright © 1997 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 7, No. 3, 2/97
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