Right to Financial Privacy Act Policy
This Right to Financial Privacy Act Policy addresses how a bank, credit union, fintech company, or other type of financial institution adheres to the Right to Financial Privacy Act (RFPA). In general, the RFPA was enacted to provide the financial records of financial institution customers a reasonable amount of privacy from federal government scrutiny. The Act establishes specific procedures that government authorities must follow when requesting a customer’s financial records from the financial institution. In addition, it imposes duties and limitations on the financial institution prior to the release of information sought by government agencies.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Definitions – Topic 3
- General Requirements – Topic 4
- Confidentiality – Topic 5
- Delayed Notice Requirements – Topic 6
- Customer Challenges – Topic 7
- Use of Information – Topic 8
- Exceptions – Topic 9
- Special Procedures – Topic 10
- Regulation S and Cost Reimbursement – Topic 11
- Jurisdiction – Topic 12
- Civil Penalties – Topic 13
- Injunctive Relief – Topic 14
- Suspension of Limitations – Topic 15
- Grand Jury Information – Topic 16
- Regulation P Policy Reference – Topic 17
- Staff Training – Topic 18
- Retention of Documentation – Topic 19
This Right to Financial Privacy Act Policy (approximately 22 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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