§ 3413. Exceptions

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1978

   Right to Financial Privacy Act of 1978

   Pub. L. 95–630 title XI § 1113 · 92 Stat. 3641

   Enacted · 12 U.S.C. § 3413

   Pub. L. 95–630, title XI, § 1113, Nov. 10, 1978, 92 Stat. 3706

   Source evidence

   Code source credit
   Pub. L. 95–630, title XI, § 1113, Nov. 10, 1978, 92 Stat. 3706

   Enacted provision · exact public law section
   Sec. 1113. exception (a) Nothing in this title 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) Nothing in this title prohibits examination by or disclosure to any supervisory agency of financial records or information in the exercise of its supervisory, regulatory, or monetary functions with respect to a financial institution. (c) Nothing in this title prohibits the disclosure of financial records in accordance with procedures authorized by the Internal Revenue 26 USC 1 et seq. Code. (d) Nothing in this title shall authorize the withholding of financial records or information required to be reported in accordance with any Federal statute or rule promulgated thereunder. (e) Nothing in this title 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) Nothing in this title 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, United States Code, and to which the Government authority and the customer are parties. (g) The notice requirements of this title and sections 1110 and 1112 shall not apply when a Government authority by a means described in section 1102 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 (50 U.S.C. App. 5(b)); the International Emergency Economic Powers 50 USC 1701 note. Act (title TI, Public Law 95–223); or section 5 of the United Nations Participation Act (22 U.S.C. 287(c)). (h) (1) Nothing in this title (except sections 1103, 1117 and 1118) shall apply when financial records are sought by a Government authority— (A) in connection with a lawful proceeding, investigation, examination, or inspection directed at the financial institution in possession of such records 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 1103(b). For access pursuant to paragraph (1)(B), no further certification shall be required for subse-quent 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 title, whenever a customer applies Notice. 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 lie transferred to another agency or department only when the transfer is to facilitate a lawful proceeding, investigation, examination or inspection directed at the financial institution in possession of such records, 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 title. (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) Nothing in this title, (except sections 1115 and 1120) shall apply to any subpena or court order issued in connection with proceedings before a grand jury. (j) This title shall not apply when financial records are sought by Audit. the General Accounting Office pursuant to an authorized proceeding, investigation, examination or audit directed at a government authority.

2. 1983

   Pub. L. 98–21 title I § 121(c)(3)(C) · 97 Stat. 65

   Added · 12 U.S.C. § 3413(k)

   Pub. L. 98–21 added subsec. (k)

   Source evidence

   Code amendment note
   Subsec. (k). Pub. L. 98–21 added subsec. (k).

   Enacted provision · exact public law section
   (3) Disclosure of information to social security administration or railroad retirement board.— (A) In general.— Subsection (h) of section 6103 of such 26 USC 6103. Code (relating to disclosure to certain Federal officers and employees for purposes of tax administration, etc.) is amended by adding at the end thereof the following new paragraph:

3. 1986

   Tax Reform Act of 1986

   Pub. L. 99–514 § 2 · 100 Stat. 2085

   Substituted · 12 U.S.C. § 3413(c)

   Pub. L. 99–514 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 99–514 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text.

   Enacted provision · exact public law section
   SEC. 2. INTERNAL REVENUE CODE OF 1986. (a) Redesignation of 1954 Code.— The Internal Revenue Title enacted August 16, 1954, as heretofore, hereby, or hereafter amended, may be cited as the “Internal Revenue Code of 1986”. (b) References in Laws, Etc.— Except when inappropriate, any reference in any law, Executive order, or other document— (1) to the Internal Revenue Code of 1954 shall include a reference to the Internal Revenue Code of 1986, and (2) to the Internal Revenue Code of 1986 shall include a reference to the provisions of law formerly known as the Internal Revenue Code of 1954.

4. 1986

   Tax Reform Act of 1986

   Pub. L. 99–514 § 2 · 100 Stat. 2085

   Substituted · 12 U.S.C. § 3413(k)(1)

   Pub. L. 99–514 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text

   Source evidence

   Code amendment note
   Subsec. (k)(1). Pub. L. 99–514 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text.

   Enacted provision · exact public law section
   SEC. 2. INTERNAL REVENUE CODE OF 1986. (a) Redesignation of 1954 Code.— The Internal Revenue Title enacted August 16, 1954, as heretofore, hereby, or hereafter amended, may be cited as the “Internal Revenue Code of 1986”. (b) References in Laws, Etc.— Except when inappropriate, any reference in any law, Executive order, or other document— (1) to the Internal Revenue Code of 1954 shall include a reference to the Internal Revenue Code of 1986, and (2) to the Internal Revenue Code of 1986 shall include a reference to the provisions of law formerly known as the Internal Revenue Code of 1954.

5. 1986

   Money Laundering Control Act of 1986

   Pub. L. 99–570 title I § 1353(b) · 100 Stat. 3207

   Inserted · 12 U.S.C. § 3413(i)

   Pub. L. 99–570 inserted “, 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”

   Source evidence

   Code amendment note
   Subsec. (i). Pub. L. 99–570 inserted “, 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”.

   Enacted provision · exact public law section
   (b) Section 1113(i) of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3413(i)) is amended by inserting immediately before the period at the end thereof a comma and the following: “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 1109 of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3409)”.

6. 1988

   Money Laundering Prosecution Improvements Act of 1988

   Pub. L. 100–690 title VI § 6186(c) · 102 Stat. 4181

   Added · 12 U.S.C. § 3413(l)

   Pub. L. 100–690 added subsec. (l)

   Source evidence

   Code amendment note
   Subsec. (l). Pub. L. 100–690 added subsec. (l).

   Enacted provision · exact public law section
   (c) Financial Records of Insiders.— Section 1113 of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3413) is amended by adding at the end thereof the following new subsection: “(l) Crimes Against Financial Institutions by Insiders.— Nothing in this title 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 2(a)(2) of the Bank Holding Company Act of 1956 or subparagraph (A) or (B) of section 408(a)(2) of the National Housing Act) 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, United States Code, 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, United States Code.”.

7. 1989

   Financial Institutions Reform, Recovery, and Enforcement Act of 1989

   Pub. L. 101–73 § 942(1) · 103 Stat. 183

   Amended · 12 U.S.C. § 3413(b)

   Pub. L. 101–73, § 942(1), amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows: “Nothing in this chapter prohibits examination by or disclosure to any supervisory agency of financial records or information in the exercise of its supervisory, regulatory, or monetary functions with respect to a financial institution.”

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 101–73, § 942(1), amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows: “Nothing in this chapter prohibits examination by or disclosure to any supervisory agency of financial records or information in the exercise of its supervisory, regulatory, or monetary functions with respect to a financial institution.”

   Enacted provision · exact public law section
   (1) by amending subsection (b) to read as follows: “(b) 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 3(u) of the Federal Deposit Insurance Act) with respect to a financial institution, holding company, or subsidiary, or other person participating in the conduct of the affairs thereof.”; and

8. 1989

   Financial Institutions Reform, Recovery, and Enforcement Act of 1989

   Pub. L. 101–73 § 942(2) · 103 Stat. 183

   Added · 12 U.S.C. § 3413(m)(o)

   Pub. L. 101–73, § 942(2), added subsecs. (m) to (o)

   Source evidence

   Code amendment note
   Subsecs. (m) to (o). Pub. L. 101–73, § 942(2), added subsecs. (m) to (o).

   Enacted provision · exact public law section
   (2) by adding at the end the following new subsections: “(m) This title 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) This title 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) This title 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.”.

9. 1990

   Crime Control Act of 1990

   Pub. L. 101–647 title I § 104 · 104 Stat. 4789

   Inserted · 12 U.S.C. § 3413(l)(2)

   Pub. L. 101–647 inserted before period at end “or of section 1956 or 1957 of title 18”

   Source evidence

   Code amendment note
   Subsec. (l)(2). Pub. L. 101–647 inserted before period at end “or of section 1956 or 1957 of title 18”.

   Enacted provision · exact public law section
   SEC. 104. ADDITION OF CONFORMING PREDICATE MONEY LAUNDERING REFERENCES TO “INSIDER” EXEMPTION FROM THE RIGHT TO FINANCIAL PRIVACY ACT. Section 1113(1)(2) of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3413(1)(2)) is amended by inserting “or of section 1956 or 1957 of title 18, United States Code” after “any provision of subchapter II of chapter 53 of title 31, United States Code”.

10. 1991

    Federal Deposit Insurance Corporation Improvement Act of 1991

    Pub. L. 102–242 § 411(2) · 105 Stat. 2236

    Substituted · 12 U.S.C. § 3413(h)(1)(A); 12 U.S.C. § 3413(h)(1)(4)

    Pub. L. 102–242, § 411(2), (3), substituted “a financial institution (whether or not such proceeding, investigation, examination, or inspection is also directed at a customer)” for “the financial institution in possession of such records”

    Source evidence

    Code amendment note
    Subsec. (h)(1)(A), (4). Pub. L. 102–242, § 411(2), (3), substituted “a financial institution (whether or not such proceeding, investigation, examination, or inspection is also directed at a customer)” for “the financial institution in possession of such records”.

    Enacted provision · exact public law section
    (2) in section 1113(h)(1)(A) (12 U.S.C. 3413(h)(1)(A)), by striking “the financial institution in possession of such records” and inserting “a financial institution (whether or not such proceeding, investigation, examination, or inspection is also directed at a customer)”;

11. 1991

    Federal Deposit Insurance Corporation Improvement Act of 1991

    Pub. L. 102–242 § 411(4) · 105 Stat. 2236

    Inserted · 12 U.S.C. § 3413(l)

    Pub. L. 102–242, § 411(4), inserted at end “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.”

    Source evidence

    Code amendment note
    Subsec. (l). Pub. L. 102–242, § 411(4), inserted at end “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.”

    Enacted provision · exact public law section
    (4) in section 1113(1) (12 U.S.C. 3413(D), by adding after paragraph (2) the following new sentence: “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.”.

12. 1992

    Veterans’ Benefits Act of 1992

    Pub. L. 102–568 title VI § 603(a) · 106 Stat. 4320

    Added · 12 U.S.C. § 3413(p)

    Pub. L. 102–568 added subsec. (p)

    Source evidence

    Code amendment note
    Subsec. (p). Pub. L. 102–568 added subsec. (p).

    Enacted provision · exact public law section
    (a) Access.— Section 1113 of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3413) is amended by adding at the end the following new subsection: “(p) (1) Nothing in this title 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.”.

13. 1998

    Travel and Transportation Reform Act of 1998

    Pub. L. 105–264 § 2(c)(1) · 112 Stat. 2350

    Added · 12 U.S.C. § 3413(q)

    Pub. L. 105–264 added subsec. (q)

    Source evidence

    Code amendment note
    Subsec. (q). Pub. L. 105–264 added subsec. (q).

    Enacted provision · exact public law section
    (1) In general.— Section 1113 of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3413) is amended by adding at the end the following new subsection: “(q) Nothing in this title 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.”.

14. 2004

    GAO Human Capital Reform Act of 2004

    Pub. L. 108–271 § 8(b) · 118 Stat. 811

    Substituted · 12 U.S.C. § 3413(j)

    Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office”

    Source evidence

    Code amendment note
    Subsec. (j). Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office”.

    Enacted provision · exact public law section
    (b) References.— Any reference to the General Accounting Office in any law, rule, regulation, certificate, directive, instruction, or other official paper in force on the date of enactment of this Act shall be considered to refer and apply to the Government Accountability Office.

15. 2008

    Food, Conservation, and Energy Act of 2008

    Pub. L. 110–246 § 14205 · 122 Stat. 1651

    1. Inserted · 12 U.S.C. § 3413(k)

       Pub. L. 110–246, § 14205, inserted heading

    2. Added · 12 U.S.C. § 3413(k)

       Pub. L. 110–246, § 14205, added pars. (2) and (3)

    3. Struck · 12 U.S.C. § 3413(k)

       Pub. L. 110–246, § 14205, struck out former par. (2) which read as follows: “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.”

    Source evidence

    Code amendment note
    Subsec. (k). Pub. L. 110–246, § 14205, inserted heading, added pars. (2) and (3), and struck out former par. (2) which read as follows: “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.”

    Enacted provision · exact public law section
    SEC. 14205. AMENDMENT TO THE RIGHT TO FINANCIAL PRIVACY ACT OF 1978.   Section 1113(k) of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3413(k)) is amended— (1) by striking the subsection heading and inserting the following: “(k) Disclosure Necessary for Proper Administration of Programs of Certain Government Authorities.— ” ; and (2) by striking paragraph (2) and inserting the following: “(2) Nothing in this title shall apply to the disclosure by the financial institution of information contained in the financial records of any customer to any Government authority that certifies, disburses, or collects payments, where the disclosure of such information is necessary to, and such information is used solely for the purpose of— “(A) verification of the identity of any person or proper routing and delivery of funds in connection with the issuance of a Federal payment or collection of funds by a Government authority; or “(B) the investigation or recovery of an improper Federal payment or collection of funds or an improperly negotiated Treasury check. “(3) Notwithstanding any other provision of law, a request authorized by paragraph (1) or (2) (and the information contained therein) may be used by the financial institution or its agents solely for the purpose of providing information contained in the financial records of the customer to the Government authority requesting the information, and the financial institution and its agents shall be barred from redisclosure of such information. Any Government authority receiving information pursuant to paragraph (1) or (2) may not disclose or use the information, except for the purposes set forth in such paragraph.” .

16. 2008

    Federal Housing Finance Regulatory Reform Act of 2008

    Pub. L. 110–289 div. A title II § 1216(a) · 122 Stat. 2654

    1. Substituted · 12 U.S.C. § 3413(o)

       Pub. L. 110–289 substituted “Federal Housing Finance Agency” for “Federal Housing Finance Board”

    2. Substituted · 12 U.S.C. § 3413(o)

       Pub. L. 110–289 substituted “Federal Housing Finance Agency’s” for “Federal Housing Finance Board’s”

    Source evidence

    Code amendment note
    Subsec. (o). Pub. L. 110–289 substituted “Federal Housing Finance Agency” for “Federal Housing Finance Board” and “Federal Housing Finance Agency’s” for “Federal Housing Finance Board’s”.

    Enacted provision · exact public law section
    (a) Right to Financial Privacy Act of 1978.— Section 1113(o) of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3413(o)) is amended— (1) by striking “Federal Housing Finance Board” and inserting “Federal Housing Finance Agency”; and (2) by striking “Federal Housing Finance Board’s” and inserting “Federal Housing Finance Agency’s”.

17. 2010

    Consumer Financial Protection Act of 2010

    Pub. L. 111–203 title X § 1099(3) · 124 Stat. 1376

    Added · 12 U.S.C. § 3413(r)

    Pub. L. 111–203 added subsec. (r)

    Source evidence

    Code amendment note
    Subsec. (r). Pub. L. 111–203 added subsec. (r).

    Enacted provision · exact public law section
    (3) in section 1113 (12 U.S.C. 3413), by adding at the end the following new subsection: “(r) Disclosure to the Bureau of Consumer Financial Protection.— Nothing in this title shall apply to the examination by or disclosure to the Bureau of Consumer Financial Protection of financial records or information in the exercise of its authority with respect to a financial institution.” .

    Effective date note
    Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

20 of 20 references resolved to an enrolled provision