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#782907 - 07/25/07 08:18 PM Request for Business customer info from Regulator
Anonymous
Unregistered

We received a request for info on activity for a business customer. I know businesses aren't covered under GLBA since they are not a consumer customer but what about Right to Financial Privacy. The original request came with instructions on how to comply with the "subpoena". When we told the regulator we didn’t receive a subpoena just a faxed request for info – he resent the instructions omitting the word “subpoena”.

The request is not related to our bank exam but that of another bank.

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#783343 - 07/26/07 01:51 PM Re: Request for Business customer info from Regulator Anonymous
LoisLane Offline
Diamond Poster
LoisLane
Joined: Oct 2001
Posts: 1,570
Wisteria Lane..
Send a copy of the request to your bank attorney, who will review it and give you an answer.
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#783352 - 07/26/07 01:56 PM Re: Request for Business customer info from Regulator Anonymous
ktac MITCH Offline
Diamond Poster
ktac MITCH
Joined: May 2005
Posts: 1,813
Giant side of TX
I was hoping to see a GURU reply to this this morning.
But, here is my guestimate.

Is this other banks regulator your regulator also, or is it a different agnecy?

I would think that if it is your regulator they have the right to any info, even though it is not during your exam.
If it is another agency, I would think they have to follow the RTFP requirements like any other federal agency ???
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#783813 - 07/26/07 07:17 PM Re: Request for Business customer info from Regulator ktac MITCH
Jerseygirl Offline
Platinum Poster
Joined: Apr 2005
Posts: 684
Jersey Shore
Thanks - We do have the same regulator.
Last edited by Jerseygirl; 07/26/07 07:18 PM.
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#784138 - 07/27/07 12:37 PM Re: Request for Business customer info from Regulator Jerseygirl
Anonymous
Unregistered

Look at it this way. If the requestor is your regulator, they can walk in and retrieve the information without any notice. So, why is there any concern over a written request?

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