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Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

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Right to Financial Privacy Act Certificate of Compliance

SoccerMomQueen is sharing one of the tools with us that she uses for compliance with Privacy laws. Sec. 1103(b) of the Right to Financial Act of 1978 requires that :A financial institution shall not release the financial records of a customer until the Government authority seeking such records certifies in writing to the financial institution that it has complied with the applicable provisions of this title.

When a government authority requests records from your bank under 12 USC 3404 (Customer Authorization), 3405, 3407, 3408 (Administrative Subpoena, Trial Subpoena and Formal Written Request), 3406 (Search Warrant), 3413 (Basic Identifying Account Information Exception), or 3414 (Emergency Access ) a Certificate of Compliance with the Right to Financial Privacy Act of 1978 - Form DOJ-461 may be required. Use of the form depends on the process used to request the documents. Your good faith reliance on this certificate relieves your bank, its employees and agents of any possible liability to the customer in connection with the disclosure of the financial records.

SoccerMomQueen had government agents review SAR documentation and just for added protection they requested this form as there was no subpoena or summons issued. Just a little extra protection for the bank and those providing the documents.

First published on 09/01/2010

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