One of our customers has multiple deposit and loan accounts with us, and he has already received multiple privacy notices from us; do I need to provide privacy docs for each new account he opens?
We're being requested by the US Treasury to handle, over the telephone, amongst other things:* non-receipt of ACH credit claims, * request for account ownership info, and others that they want to give to us. We do not have to resolve the actual issue real-time over the phone but at a minimum, take in their claim/request. They're referring to the Social Security Act (Section 1441, Title 26, Title II the Railroad Retirement Act of 1974 and the Right to Financial Privacy Act (12 U.S.C. 3413 (K)) and saying that we're required to comply. Are you familiar with this and what are we required to do?
Concerning the Right to Financial Privacy Act and subpoenas: When we receive a subpoena, has the government authority who issued it already notified the customer at least 10 days in advance, or does the government mail/deliver the subpoena to the bank and customer at the same time? This would mean the bank must wait at least 10 days to provide the information in order for the customer to have time to stop the request.
It was Bette Davis who first said that old age is no place for sissies. Well - let me tell you, neither is being a banker for cowards or sissies these days!
Per the recommendation of information found on BOL, I utilized the "Certificate of Compliance With the Right to Financial Privacy Act of 1978". Our local authorities have been advised from their managing associate judge to refuse to sign this form. Can you give me suggestions?
Multiple transactions must be treated as a single transaction if the financial institution has knowledge that (1) they are by or on behalf of the same person and (2) they result in either currency