Prohibiting Banks from Notifying Customers of
Grand Jury Subpoenas
There are two situations when banks and their personnel are
prohibited from notifying their customers of a grand jury subpoena for
their records. The first is when the government obtains a court order
delaying notification by following the procedures set at § 3409(a)
of the Act. See Delayed Notice at 11, 12 U.S.C. § 3413(i).
The second situation is where the records are being subpoenaed to
investigate crimes against a financial institution or supervisory
agency, 12 U.S.C. § 3420(b) makes it a crime for the bank or its
personnel to provide notice to the customer.|
* It should also be noted that 18 U.S.C. § 1510(b)
establishes criminal penalties for situations where an officer of a
financial institution notifies, directly or indirectly, any person
regarding the existence or contents of a subpoena with the intent to
obstruct a judicial proceeding.