12 U.S.C. § 3413 : US Code - Section 3413: Exceptions

Search 12 U.S.C. § 3413 : US Code - Section 3413: Exceptions

(a) Disclosure of financial records not identified with particular
customers
Nothing in this chapter prohibits the disclosure of any financial
records or information which is not identified with or identifiable
as being derived from the financial records of a particular
customer.
(b) Disclosure to, or examination by, supervisory agency pursuant
to exercise of supervisory, regulatory, or monetary functions
with respect to financial institutions, holding companies,
subsidiaries, institution-affiliated parties, or other persons
This chapter shall not apply to the examination by or disclosure
to any supervisory agency of financial records or information in
the exercise of its supervisory, regulatory, or monetary functions,
including conservatorship or receivership functions, with respect
to any financial institution, holding company, subsidiary of a
financial institution or holding company, institution-affiliated
party (within the meaning of section 1813(u) of this title) with
respect to a financial institution, holding company, or subsidiary,
or other person participating in the conduct of the affairs
thereof.
(c) Disclosure pursuant to title 26
Nothing in this chapter prohibits the disclosure of financial
records in accordance with procedures authorized by title 26.
(d) Disclosure pursuant to Federal statute or rule promulgated
thereunder
Nothing in this chapter shall authorize the withholding of
financial records or information required to be reported in
accordance with any Federal statute or rule promulgated thereunder.
(e) Disclosure pursuant to Federal Rules of Criminal Procedure or
comparable rules of other courts
Nothing in this chapter shall apply when financial records are
sought by a Government authority under the Federal Rules of Civil
or Criminal Procedure or comparable rules of other courts in
connection with litigation to which the Government authority and
the customer are parties.
(f) Disclosure pursuant to administrative subpena issued by
administrative law judge
Nothing in this chapter shall apply when financial records are
sought by a Government authority pursuant to an administrative
subpena issued by an administrative law judge in an adjudicatory
proceeding subject to section 554 of title 5 and to which the
Government authority and the customer are parties.
(g) Disclosure pursuant to legitimate law enforcement inquiry
respecting name, address, account number, and type of account of
particular customers
The notice requirements of this chapter and sections 3410 and
3412 of this title shall not apply when a Government authority by a
means described in section 3402 of this title and for a legitimate
law enforcement inquiry is seeking only the name, address, account
number, and type of account of any customer or ascertainable group
of customers associated (1) with a financial transaction or class
of financial transactions, or (2) with a foreign country or
subdivision thereof in the case of a Government authority
exercising financial controls over foreign accounts in the United
States under section 5(b) of the Trading with the Enemy Act [12
U.S.C. 95a, 50 U.S.C. App. 5(b)]; the International Emergency
Economic Powers Act (title II, Public Law 95-223) [50 U.S.C. 1701
et seq.]; or section 287c of title 22.
(h) Disclosure pursuant to lawful proceeding, investigation, etc.,
directed at financial institution or legal entity or
consideration or administration respecting Government loans, loan
guarantees, etc.
(1) Nothing in this chapter (except sections 3403, 3417 and 3418
of this title) shall apply when financial records are sought by a
Government authority -
(A) in connection with a lawful proceeding, investigation,
examination, or inspection directed at a financial institution
(whether or not such proceeding, investigation, examination, or
inspection is also directed at a customer) or at a legal entity
which is not a customer; or
(B) in connection with the authority's consideration or
administration of assistance to the customer in the form of a
Government loan, loan guaranty, or loan insurance program.
(2) When financial records are sought pursuant to this
subsection, the Government authority shall submit to the financial
institution the certificate required by section 3403(b) of this
title. For access pursuant to paragraph (1)(B), no further
certification shall be required for subsequent access by the
certifying Government authority during the term of the loan, loan
guaranty, or loan insurance agreement.
(3) After the effective date of this chapter, whenever a customer
applies for participation in a Government loan, loan guaranty, or
loan insurance program, the Government authority administering such
program shall give the customer written notice of the authority's
access rights under this subsection. No further notification shall
be required for subsequent access by that authority during the term
of the loan, loan guaranty, or loan insurance agreement.
(4) Financial records obtained pursuant to this subsection may be
used only for the purpose for which they were originally obtained,
and may be transferred to another agency or department only when
the transfer is to facilitate a lawful proceeding, investigation,
examination, or inspection directed at a financial institution
(whether or not such proceeding, investigation, examination, or
inspection is also directed at a customer), or at a legal entity
which is not a customer, except that -
(A) nothing in this paragraph prohibits the use or transfer of
a customer's financial records needed by counsel representing a
Government authority in a civil action arising from a Government
loan, loan guaranty, or loan insurance agreement; and
(B) nothing in this paragraph prohibits a Government authority
providing assistance to a customer in the form of a loan, loan
guaranty, or loan insurance agreement from using or transferring
financial records necessary to process, service or foreclose a
loan, or to collect on an indebtedness to the Government
resulting from a customer's default.
(5) Notification that financial records obtained pursuant to this
subsection may relate to a potential civil, criminal, or regulatory
violation by a customer may be given to an agency or department
with jurisdiction over that violation, and such agency or
department may then seek access to the records pursuant to the
provisions of this chapter.
(6) Each financial institution shall keep a notation of each
disclosure made pursuant to paragraph (1)(B) of this subsection,
including the date of such disclosure and the Government authority
to which it was made. The customer shall be entitled to inspect
this information.
(i) Disclosure pursuant to issuance of subpena or court order
respecting grand jury proceeding
Nothing in this chapter (except sections 3415 and 3420 of this
title) shall apply to any subpena or court order issued in
connection with proceedings before a grand jury, except that a
court shall have authority to order a financial institution, on
which a grand jury subpoena for customer records has been served,
not to notify the customer of the existence of the subpoena or
information that has been furnished to the grand jury, under the
circumstances and for the period specified and pursuant to the
procedures established in section 3409 of this title.
(j) Disclosure pursuant to proceeding, investigation, etc.,
instituted by Government Accountability Office and directed at a
government authority
This chapter shall not apply when financial records are sought by
the Government Accountability Office pursuant to an authorized
proceeding, investigation, examination or audit directed at a
government authority.
(k) Disclosure necessary for proper administration of programs of
withholding taxes on nonresident aliens, Federal Old-Age,
Survivors, and Disability Insurance Benefits, and Railroad
Retirement Act Benefits
(1) Nothing in this chapter shall apply to the disclosure by the
financial institution of the name and address of any customer to
the Department of the Treasury, the Social Security Administration,
or the Railroad Retirement Board, where the disclosure of such
information is necessary to, and such information is used solely
for the purpose of, the proper administration of section 1441 of
title 26, title II of the Social Security Act [42 U.S.C. 401 et
seq.], or the Railroad Retirement Act of 1974 [45 U.S.C. 231 et
seq.].
(2) Notwithstanding any other provision of law, any request
authorized by paragraph (1) (and the information contained therein)
may be used by the financial institution or its agents solely for
the purpose of providing the customer's name and address to the
Department of the Treasury, the Social Security Administration, or
the Railroad Retirement Board and shall be barred from redisclosure
by the financial institution or its agents.
(l) Crimes against financial institutions by insiders
Nothing in this chapter shall apply when any financial
institution or supervisory agency provides any financial record of
any officer, director, employee, or controlling shareholder (within
the meaning of subparagraph (A) or (B) of section 1841(a)(2) of
this title or subparagraph (A) or (B) of section 1730a(a)(2) of
this title) of such institution, or of any major borrower from such
institution who there is reason to believe may be acting in concert
with any such officer, director, employee, or controlling
shareholder, to the Attorney General of the United States, to a
State law enforcement agency, or, in the case of a possible
violation of subchapter II of chapter 53 of title 31, to the
Secretary of the Treasury if there is reason to believe that such
record is relevant to a possible violation by such person of -
(1) any law relating to crimes against financial institutions
or supervisory agencies by directors, officers, employees, or
controlling shareholders of, or by borrowers from, financial
institutions; or
(2) any provision of subchapter II of chapter 53 of title 31 or
of section 1956 or 1957 of title 18.
No supervisory agency which transfers any such record under this
subsection shall be deemed to have waived any privilege applicable
to that record under law.
(m) Disclosure to, or examination by, employees or agents of Board
of Governors of Federal Reserve System or Federal Reserve Bank
This chapter shall not apply to the examination by or disclosure
to employees or agents of the Board of Governors of the Federal
Reserve System or any Federal Reserve Bank of financial records or
information in the exercise of the Federal Reserve System's
authority to extend credit to the financial institutions or others.
(n) Disclosure to, or examination by, Resolution Trust Corporation
or its employees or agents
This chapter shall not apply to the examination by or disclosure
to the Resolution Trust Corporation or its employees or agents of
financial records or information in the exercise of its
conservatorship, receivership, or liquidation functions with
respect to a financial institution.
(o) Disclosure to, or examination by, Federal Housing Finance Board
or Federal home loan banks
This chapter shall not apply to the examination by or disclosure
to the Federal Housing Finance Board or any of the Federal home
loan banks of financial records or information in the exercise of
the Federal Housing Finance Board's authority to extend credit
(either directly or through a Federal home loan bank) to financial
institutions or others.
(p) Access to information necessary for administration of certain
veteran benefits laws
(1) Nothing in this chapter shall apply to the disclosure by the
financial institution of the name and address of any customer to
the Department of Veterans Affairs where the disclosure of such
information is necessary to, and such information is used solely
for the purposes of, the proper administration of benefits programs
under laws administered by the Secretary.
(2) Notwithstanding any other provision of law, any request
authorized by paragraph (1) (and the information contained therein)
may be used by the financial institution or its agents solely for
the purpose of providing the customer's name and address to the
Department of Veterans Affairs and shall be barred from
redisclosure by the financial institution or its agents.
(q) Disclosure pursuant to Federal contractor-issued travel charge
card
Nothing in this chapter shall apply to the disclosure of any
financial record or information to a Government authority in
conjunction with a Federal contractor-issued travel charge card
issued for official Government travel.