Right to Financial Privacy Act
E864725
The Right to Financial Privacy Act is a U.S. federal law that restricts government access to individuals’ financial records held by banks, generally requiring customer consent or a warrant, subpoena, or formal written request.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Right to Financial Privacy Act canonical | 1 |
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
ⓘ
privacy law ⓘ |
| allows |
customers to sue the United States for violations of the Act
ⓘ
recovery of actual damages for violations ⓘ recovery of costs and attorney’s fees for prevailing customers ⓘ recovery of statutory damages in some cases ⓘ |
| appliesTo |
customers of financial institutions
ⓘ
financial institutions ⓘ |
| codifiedAs | Title 12 of the United States Code ⓘ |
| contains |
exceptions for certain emergency situations
ⓘ
exceptions for certain law enforcement and intelligence activities ⓘ exceptions for supervisory and regulatory examinations of financial institutions ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| doesNotApplyTo |
financial records obtained by private parties without government involvement
ⓘ
state and local government access unless federal funds or agencies are involved ⓘ |
| effectiveDate | 1978 ⓘ |
| enactedBy | United States Congress ⓘ |
| enforcementBy |
federal agencies’ internal compliance mechanisms
ⓘ
federal courts ⓘ |
| establishes |
notice requirements to customers when their financial records are sought by the government
ⓘ
procedures for federal agencies to obtain financial records ⓘ |
| focusesOn | records maintained by financial institutions about individuals ⓘ |
| imposes |
recordkeeping obligations on financial institutions regarding government requests
ⓘ
requirements on federal agencies seeking financial records ⓘ |
| influencedBy | concerns about government access to bank records following Supreme Court decisions such as United States v. Miller ⓘ |
| jurisdiction |
United States government
ⓘ
surface form:
federal government of the United States
|
| limits | disclosure of financial records to federal agencies ⓘ |
| policyGoal | to balance law enforcement needs with individual financial privacy ⓘ |
| presidentAtEnactment | Jimmy Carter NERFINISHED ⓘ |
| protects |
customers of banks
ⓘ
customers of credit unions ⓘ customers of savings and loan associations ⓘ |
| provides |
civil remedies for customers whose rights are violated
ⓘ
criminal penalties for certain unauthorized disclosures in conjunction with other statutes ⓘ limited exceptions to customer notice requirements ⓘ |
| purpose |
to protect the confidentiality of personal financial records held by financial institutions
ⓘ
to restrict government access to customers’ financial records ⓘ |
| regulates | access by federal government agencies to financial records ⓘ |
| relatedTo |
Bank Secrecy Act
NERFINISHED
ⓘ
Fourth Amendment to the United States Constitution NERFINISHED ⓘ Gramm–Leach–Bliley Act NERFINISHED ⓘ |
| requires |
certification by government authorities that they have complied with the Act when requesting records
ⓘ
customer authorization for most government access to financial records ⓘ warrant, subpoena, or formal written request for government access to financial records in most cases ⓘ |
| shortName | RFPA NERFINISHED ⓘ |
| signedBy | Jimmy Carter ⓘ |
| subjectMatter |
financial privacy
ⓘ
government surveillance of financial records ⓘ |
| yearEnacted | 1978 ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.