Skip to content

Sec. 3404. Customer authorizations

(a) Statement furnished by customer to financial institution and Government authority; contents
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 -
     (1) authorizes such disclosure for a period not in excess of three months;
     (2) states that the customer may revoke such authorization at any time before the financial records are disclosed;
     (3) identifies the financial records which are authorized to be disclosed;
     (4) specifies the purposes for which, and the Government authority to which, such records may be disclosed; and
     (5) states the customer's rights under this chapter.

(b) Authorization as condition of doing business prohibited
No such authorization shall be required as a condition of doing business with any financial institution.

(c) Right of customer to access to financial institution's record of disclosures
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.
 

Banker Tools View All

A collection of useful resources for various areas of the bank which have been developed by members of the BankersOnline staff or have been created and contributed by users of the BankersOnline site.

Banker Tools

Penalties View All

Search Regulations

View Regulations

CFPB Letter Classification

FRB Letter Classification