Right to Financial Privacy Act Basics

Presented by:
Mary Beth Guard

The federal Right to Financial Privacy Act is complex, yet every financial institution must be thoroughly familiar with its provisions in order to handle records requests in a timely and appropriate fashion. This Webinar will help you master the intricacies of this important federal law and reduce your anxiety the next time a federal government official wants information about one of your customers.

• This morning's mail contains a third-party recordkeeper summons from the IRS.
• An FBI agent shows up with a National Security Letter and wants copies of records relating to a match your institution had with an individual on a 314(a) search list.
• You just received a search warrant for your customer's records. They want them as soon as you can compile them.
• You have a federal grand jury subpoena requesting information on a customer.
• The latest subpoena you've received asks for a huge volume of customer records going back many years. It will take your staff hours to complete the task.

In each of these instances (and many more like them), you must be able to answer these questions: Can you provide the records? Must you do so? What's the time frame? What rights does your customer have? How do you protect your institution? Can you get reimbursed for your time?

Failure to respond properly to a request for customer financial information can expose your institution to potential liability. Often, such requests involve a short time frame, leaving little time to research the applicable privacy laws in order to make the right decisions.

What Can You Expect To Learn?
When a request is - or is not - covered by the federal RFPA;
Seven requirements for valid customer authorizations under the RFPA;
When your customer is entitled to advance notice -- and when he isn't;
Special situations where you cannot inform the customer;
The most common exceptions to RFPA coverage;
What to do when the request is unduly burdensome;
Why a certificate of compliance is crucial and what its timing should be;
Six questions to ask when you receive a records request;
and much more.

VIEW A 10 MINUTE SAMPLE
(requires Windows Media Player and IE).

About the speaker:  Mary Beth Guard
Mary Beth Guard has been teaching financial privacy to bankers since the early 1990s and has authored more than a hundred articles on private-related subjects. In addition, she has created privacy cheat sheets and matrices used by thousands of bankers nationwide. Currently serving as Executive Editor of BankersOnline.com, Mary Beth has had a long and distinguished career, focusing on the banking industry since 1984. Previously, Mary Beth served as EVP/General Counsel and COO for the Oklahoma Bankers Association and General Counsel for the Oklahoma State Banking Department.

CD-ROM includes:

• Complete presentation (including slides and audio)
• Written Materials
• Follow-up Q & A

You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.