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Right to Financial Privacy Act

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Many financial institutions are frequently requested either formally or informally to provide copies of their records or records of their customers to various governmental agencies or private individuals. Regulators are expecting financial institutions to have formal procedures for those occasions. Failure to properly respond can expose both the financial institution and its employees to civil liability and criminal fines.
The increase in litigation over breaches in the sharing of customer information continues to escalate. Institutions have an ongoing uphill battle to minimize that area of risk. To keep you insulated from civil liability, criminal penalty, and administrative sanctions you need to be aware of the technical requirements of the rules.

This session will help you (and your staff) become familiar with the rules and the expectations of this Act. According to examiners, the proper handling of these requests is an ever increasing concern given today’s financial environment. Attend this session and learn how to verify that your institution is in compliance with the rules.

Target Audience:

Compliance officers, compliance and audit staff, risk management


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