12-U.S.C.-3404
§3404 – Customer Authorizations
Pathway
Title 12 > Chapter 35 > Section 3404
Details
- Reference: Section 3404
- Legend: §3404 – Customer Authorizations
- USCode Year: 2013
Provision Content
(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 customers 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 institutions 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 customers record is disclosed to a Government authority pursuant to this section, including the identity of the Government authority to which such disclosure is made.
(Pub. L. 95–630, title XI, §1104, Nov. 10, 1978, 92 Stat. 3698; Pub. L. 96–3, Mar. 7, 1979, 93 Stat. 5.)
Amendments
1979—Subsec. (d). Pub. L. 96–3 struck out subsec. (d) which had directed that all financial institutions promptly notify all of their customers of their rights under this chapter, that the Board of Governors of the Federal Reserve System prepare a statement of customers’ rights under this chapter, and that the supplying of such a statement to their customers by the financial institutions be deemed compliance with the notification requirement.
U.S. Encyclopedia of Law Coverage
12-U.S.C.-3345 in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-3345, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.
Title 12 – Banks And Banking in the Legal Encyclopedia: Privacy
In this entry about Title 12 – Banks And Banking, find legal reference material, bibliographies and premiere content related to privacy in the American Encyclopedia of Law, presenting a comprehensive view of the United States privacy-specific issues, written by authorities in the field.
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