The Right to Financial Privacy Act of 1978 provides customers of financial institutions with a reasonable amount of privacy for their financial records from the federal government.
This module will teach you what you need to know to ensure bank policies and procedures are compliant with the RFPA.
The exact language of the Right to Financial Privacy Act may be found in Title 12 Chapter 35 of the United States Code.
This course includes an examination.
- Ensure bank policies and procedures regarding private customer financial information are compliant with the Right to Financial Privacy Act.
- Identify the exceptions to the Right to Financial Privacy Act and understand the circumstances in which banks are obliged or permitted to disclose customer financial information.
- Use the cost reimbursement schedule provided by the Right to Financial Privacy Act to ensure your institution is compensated for complying with government requests for customer financial information.
o Accessing customer records
o Releasing customer records
o Additional recordkeeping
o Delayed notice requirements
o Civil liability
o Releasing records
o Regulatory agency requests
o Other laws and regulations
o GAO requests
o Grand Jury Subpoenas
o Requests involving a lawsuit and a government authority
o Additional exceptions
o Exceptions for notice requirements, but not certification requirements
o Regulation S reimbursement schedule
o Conditions for payment
o Payment procedures