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Civil Resource Manual

90. Transfer Restrictions And Remedies Under The Financial Privacy Act

Additionally, restrictions on the interagency transfer of financial records once obtained by the government under the Act are established in 12 U.S.C. § 3412.

The Act provides for injunctive actions challenging intended government access to financial records (see 12 U.S.C. § 3410) and also provides for injunctive relief to enforce compliance with any of its provisions (see 12 U.S.C. §§ 3416, 3418). The Act provides for the assessment of money damages against any agency or department or private financial institution obtaining or disclosing financial records in violation of the Act's provisions, at a statutory minimum amount of $100 regardless of the volume of records involved. See 12 U.S.C. § 3417(a)(1). Beyond this statutory minimum, both actual damages sustained by the customer as the result of a disclosure, as well as discretionary punitive damages where a violation is found to have been "willfull or intentional," are allowed, together with costs and reasonable attorney fees. See 12 U.S.C. § 3417(a)(2)(3)(4). Venue is set forth at 12 U.S.C. § 3416, as is the limitations provision of the Act. See also 12 U.S.C. § 3410(a) regarding limitations to enjoin intended government access.

[cited in JM 4-6.332]