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Criminal Resource Manual

471. 12 U.S.C. § 3404—Customer authorizations

  1. Statement furnished by customer to financial institution and Government authority; contents

    A customer may authorize disclosure under section 3402(1) of this title if he furnishes to the financial institution and to the Government authority seeking to obtain such disclosure a signed and dated statement which--

    1. authorizes such disclosure for a period not in excess of three months;

    2. states that the customer may revoke such authorization at any time before the financial records are disclosed;

    3. identifies the financial records which are authorized to be disclosed;

    4. specifies the purposes for which, and the Government authority to which, such records may be disclosed; and

    5. states the customer's rights under this chapter.

  2. Authorization as condition of doing business prohibited

    No such authorization shall be required as a condition of doing business with any financial institution.

  3. Right of customer to access to financial institution's record of disclosures

The customer has the right, unless the Government authority obtains a court order as provided in section 3409 of this title, to obtain a copy of the record which the financial institution shall keep of all instances in which the customer's record is disclosed to a Government authority pursuant to this section, including the identity of the Government authority to which such disclosure is made.