U.S. Code » Title 12 » Chapter CHAPTER 35— RIGHT TO FINANCIAL PRIVACY

12 U.S.C. § 3401

Definitions

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For the purpose of this chapter, the term—(1) “financial institution”, except as provided in section 3414 of this title, means any office of a bank, savings bank, card issuer as defined in section 1602(n) 11 See References in Text note below. of title 15, industrial loan company, trust company, savings association, building and loan, or homestead association (including cooperative banks), credit union, or consumer finance institution, located in any State or territory of the United States, the District of Columbia, Puerto Rico, Guam, American Samoa, or the Virgin Islands;(2) “financial record” means an original of, a copy of, or information known to have been derived from, any record held by a financial institution pertaining to a customer’s relationship with the financial institution;(3) “Government authority” means any agency or department of the United States, or any officer, employee, or agent thereof;(4) “person” means an individual or a partnership of five or fewer individuals;(5) “customer” means any person or authorized representative of that person who utilized or is utilizing any service of a financial institution, or for whom a financial institution is acting or has acted as a fiduciary, in relation to an account maintained in the person’s name;(6) “holding company” means—(A) any bank holding company (as defined in section 1841 of this title); and(B) any company described in section 1843(f)(1) of this title;(7) “supervisory agency” means with respect to any particular financial institution, holding company, or any subsidiary of a financial institution or holding company, any of the following which has statutory authority to examine the financial condition, business operations, or records or transactions of that institution, holding company, or subsidiary—(A) the Federal Deposit Insurance Corporation;(B) the Bureau of Consumer Financial Protection;(C) the National Credit Union Administration;(D) the Board of Governors of the Federal Reserve System;(E) the Comptroller of the Currency;(F) the Securities and Exchange Commission;(G) the Commodity Futures Trading Commission;(H) the Secretary of the Treasury, with respect to the Bank Secrecy Act (Public Law 91–508, title I) [12 U.S.C. 1951 et seq.] and subchapter II of chapter 53 of title 31; or(I) any State banking or securities department or agency; and(8) “law enforcement inquiry” means a lawful investigation or official proceeding inquiring into a violation of, or failure to comply with, any criminal or civil statute or any regulation, rule, or order issued pursuant thereto.(Pub. L. 95–630, title XI, § 1101, Nov. 10, 1978, 92 Stat. 3697; Pub. L. 101–73, title VII, § 744(b), title IX, § 941, Aug. 9, 1989, 103 Stat. 438, 496; Pub. L. 101–647, title XXV, § 2596(c), Nov. 29, 1990, 104 Stat. 4908; Pub. L. 106–102, title VII, § 727(b)(1), Nov. 12, 1999, 113 Stat. 1475; Pub. L. 108–177, title III, § 374(b), Dec. 13, 2003, 117 Stat. 2628; Pub. L. 111–203, title X, § 1099(1), July 21, 2010, 124 Stat. 2105.)Editorial NotesReferences in Text

Section 1602(n) of title 15, referred to in par. (1), was redesignated section 1602(o) of title 15 by Pub. L. 111–203, title X, § 1100A(1)(A), July 21, 2010, 124 Stat. 2107.

The Bank Secrecy Act, referred to in par. (7)(H), is title I of Pub. L. 91–508, Oct. 26, 1970, 84 Stat. 1114, which is classified principally to chapter 21 (§ 1951 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1951 of this title and Tables.

Codification

In par. (7)(H), “the Bank Secrecy Act (Public Law 91–508, title I) [12 U.S.C. 1951 et seq.] and subchapter II of chapter 53 of title 31” substituted for “the Bank Secrecy Act [12 U.S.C. 1951 et seq.] and the Currency and Foreign Transactions Reporting Act [31 U.S.C. 1051 et seq.] (Public Law 91–508, title I and II)”, on authority of Pub. L. 97–258, § 4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance.

Amendments

2010—Par. (6). Pub. L. 111–203, § 1099(1)(A), inserted “and” at end of subpar. (A), struck out “and” at end of subpar. (B), and struck out subpar. (C) which read as follows: “any savings and loan holding company (as defined in the Home Owners’ Loan Act);”.

Par. (7)(B). Pub. L. 111–203, § 1099(1)(B), added subpar. (B) and struck out former subpar. (B) which read as follows: “Director, Office of Thrift Supervision;”.

2003—Par. (1). Pub. L. 108–177 inserted “, except as provided in section 3414 of this title,” before “means any office”.

1999—Par. (7)(G) to (I). Pub. L. 106–102 added subpar. (G) and redesignated former subpars. (G) and (H) as (H) and (I), respectively.

1990—Par. (6)(B). Pub. L. 101–647 substituted “section 1843(f)(1)” for “section 1842(f)(1)”.

1989—Par. (1). Pub. L. 101–73, § 744(b)(1), substituted “savings association” for “savings and loan”.

Par. (6). Pub. L. 101–73, § 941(3), added par. (6). Former par. (6) redesignated (7).

Par. (7). Pub. L. 101–73, § 941(1), (2), redesignated former par. (6) as (7) and substituted new introductory provisions for former introductory provisions which read as follows: “ ‘supervisory agency’ means, with respect to any particular financial institution any of the following which has statutory authority to examine the financial condition or business operations of that institution—”. Former par. (7) redesignated (8).

Pub. L. 101–73, § 744(b)(2), (3), redesignated subpars. (C) to (I) as (B) to (H), respectively, substituted “Director, Office of Thrift Supervision” for “the Federal Home Loan Bank Board” in subpar. (B), and struck out former subpar. (B) which read as follows: “the Federal Savings and Loan Insurance Corporation;”.

Par. (8). Pub. L. 101–73, § 941(1), redesignated par. (7) as (8).

Statutory Notes and Related SubsidiariesEffective Date of 2010 Amendment

Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

Effective Date

Section effective upon the expiration of 120 days after Nov. 10, 1978, see section 2101 of Pub. L. 95–630, set out as a note under section 375b of this title.

Short Title

Pub. L. 95–630, title XI, § 1100, Nov. 10, 1978, 92 Stat. 3697, provided that: “This title [enacting this chapter] may be cited as the ‘Right to Financial Privacy Act of 1978’.”

Notes of Decisions
Cited in 222 cases (15 in the last 5 years), 1979–2026 · leading case: State v. Popenhagen, 2008 WI 55 (Wis. 2008).
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State v. Popenhagen, 2008 WI 55 (Wis. 2008). · cites it 4× “¶ 206 Popenhagen argues that Miller is not controlling because the enactment of *656 the Right to Financial Privacy Act (Financial Privacy Act), 12 U.S.C. § 3401 , et seq., effectively overruled it and, therefore, the Financial Privacy Act entitles citizens to a privacy interest…”
Donald J. Trump v. Deutsche Bank AG, 943 F.3d 627 (2d Cir. 2019). · cites it 3× “Statutory Claim––RFPA Appellants contend that the subpoenas are invalid for failure of the Committees to comply with the Right to Financial Privacy Act (“RFPA” or “Act”), 12 U.S.C. §§ 3401‒3423. RFPA prohibits a financial institution’s disclosure of a customer’s financial…”
Jodi Hohman v. Maurice Eadie, 894 F.3d 776 (6th Cir. 2018). · cites it 4× “This appeal raises a highly technical issue arising from a potential conflict between the Internal Revenue Code and the Federal Right to Financial Privacy Act of 1978, 12 U.S.C. §§ 3401 - 3422. 1 The IRS issued two "John Doe" summonses without first obtaining approval in a…”
Nichols v. Council on Jud. Complaints, 615 P.2d 280 (Okla. 1980). · cites it 10× “HARGRAVE, Justice, concurring in part: I would quash the subpoena considered in this proceeding for the sole reason that the Respondent has conceded that the subpoena issued herein did not comply with the laws of this State in force at the time of issuance.”
Patricia Gonzales Lopez v. First Union Nat'l Bank of Florida, Jose Daniel Ruiz Coronado v. Bankatlantic Bancorp, Inc., 129 F.3d 1186 (1st Cir. 1997). · cites it 4× “(Counts I and II), the Right to Financial Privacy Act, 12 U.S.C. §§ 3401 et seq., (Count III), and Florida law.”
Abdelfattah v. United States Dep't of Homeland Sec., 787 F.3d 524 (D.C. Cir. 2015). · cites it 2× “, and the Right to Financial Privacy Act, 12 U.S.C. § 3401 . et seq. Abdelfattah further asserts that DHS’s creation and maintenance of the TECS records violates the Fifth Amendment to the Constitution.”
Perrin Davis v. Facebook, Inc., 956 F.3d 589 (9th Cir. 2020). “at 3 (“[The SCA] is modeled after the Right to Financial Privacy Act, 12 U.S.C. § 3401 et seq. to protect privacy interests in personal and proprietary information .”
Nikrasch v. State, 698 S.W.2d 443 (Tex. App. 1985). · cites it 4× “12 U.S.C.A. § 3401 (3) (1980) defines "Government authority" as "any agency or department of the United States, or any officer, employee or agent thereof.”
Strother v. Harte, 171 F. Supp. 2d 203 (S.D.N.Y. 2001). · cites it 2× “Federal question jurisdiction is based on the purported civil rights claims as well as claims under the' Right to Financial Privacy Act (the “Financial Privacy Act”), 12 U.S.C. § 3401 et seq., and the Racketeer Influenced and Corrupt Organizations Act (“RICO”), 18 U.”
Pontbriand v. Sundlun, 699 A.2d 856 (R.I. 1997). · cites it 3× “§ 1983 , 12 U.S.C. § 3401 , and the Federal Privacy Act of 1974, P.”
Elaine L. Chao, Sec'y of Labor, United States Dep't of Labor v. Cmty. Trust Co., 474 F.3d 75 (3rd Cir. 2007). · cites it 4× “This appeal presents the question of when a district court may enforce a government agency’s subpoena duces tecum against a financial institution in light of two statutes which protect private consumer financial information, the Right to Financial Privacy Act (RFPA), 12 U.S.C. §…”
Indiana Nat'l Bank v. Chapman, 482 N.E.2d 474 (Ind. Ct. App. 1985). · cites it 4× “Finally the court noted its reasoning was in line with the Right to Financial Privacy Act, 12 U.S.C. § 3401 et seq. which outlines the situations under which federal government authorities may have access to an individual's financial reasons.”
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