Right to Financial Privacy Act


Also found in: Wikipedia.

Right to Financial Privacy Act

Guarantees that a bank customer will be given notice and an opportunity to object before bank records will be revealed to the government. There are some exceptions for things such as drug trafficking.(Do not confuse with the Financial Privacy Rules of the Financial Modernization Act of 1999, which protects disclosure of information to nongovernment entities,such as other companies wishing to sell goods and services to the bank customer.)

References in periodicals archive ?
One reason for the scholarly avoidance of the financial privacy issue could be that Congress, alarmed by the Court's finding in Miller, passed the Right to Financial Privacy Act (11) ("RFPA") to remedy the hole in Fourth Amendment protection left by Miller.
A RESPONSE TO MILLER: THE RIGHT TO FINANCIAL PRIVACY ACT
However, the Bank Secrecy Act (BSA) of 1970 (14) and the Right to Financial Privacy Act (RFPA) of 1978 (15) are the primary authorities.
The Federal Reserve Board issued a revision to Regulation S, which sets the rates and conditions under which a government agency must reimburse a financial institution for costs incurred in producing customer financial records under the Right to Financial Privacy Act.
The Right to Financial Privacy Act of 1978 says, "No Government authority may have access to, or obtain copies of, the information contained in the financial records of any customer from a financial institution unless the financial records are reasonably described" and "a copy of the subpoena or summons has been served upon the customer or mailed to his last known address.
4) To the extent specifically permitted or required under other provisions of law and in accordance with the Right to Financial Privacy Act of 1978 (12 U.
It might seem to most Nation readers that the current battle over the Right to Financial Privacy Act is a minor skirmish, pitting money-launderers against high-priced lawyers and leaving the rest of us waiting as usual for a vacant teller's window.
The Sarbanes-Oxley Act, the Right to Financial Privacy Act, the USA PATRIOT Act, and the Health Insurance Portability and Accountability Act all contain specific liabilities related to companies' data.
The ancestor of the first NSL letter provision is an exception to privacy protections afforded by the Right to Financial Privacy Act (RFPA).
The Right to Financial Privacy Act protects consumer records maintained by financial institutions from improper disclosure to federal government officials or agencies.
Furthermore, legislative history indicates Congress intended to restrict access to and disclosure of such information in the same manner as that provided for financial records in the Right to Financial Privacy Act.