United States. Financial data. Act
RFPARight to Financial Privacy Act of 1978 (12 U.S.C. § 3401 et seq.)
Partly verified
Medium confidence.Effective date not stated in the source read, so date_in_force is empty. Authority listed is not a single regulator; the Act is enforced through civil actions. In force date: LII note says the section is effective upon the expiration of 120 days after 10 Nov 1978 (Pub. L. 95-630 s.2101); 120 days after that date is 10 Mar 1979 (calculated).
§1Summary
- Synopsis
Gives customers of financial institutions a degree of privacy from federal government searches of their records, generally requiring notice to the customer and a chance to consent or challenge before the government obtains the records. Passed after United States v. Miller (1976) held that bank records belong to the bank.
- Key themes
- Unique features
Binds federal government access only, not private-sector use of financial data.
- SaaS relevance
Limited; relevant to financial-sector SaaS that holds bank customer records and receives federal requests.
§2Obligations
- Breach notification
- None
- DPO
- No
- Cross-border transfers
- None
- Maximum penalty
- Statutory damages of $100 per violation (per Wikipedia)
§3Dates
- Key dates
- Adopted
- In force
- Pub. L. 95-630, Title XI, signed 10 Nov 1978. Amended 1986 and by the USA PATRIOT Act 2001 and USA FREEDOM Act.
§4Text and authority
- Text
- Authoritative text law.cornell.edu
- Authority
- Federal courts; federal agencies bound by the Act
§5Where it applies
- Domestic law of
- United States
- Also applies in
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Guam
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Puerto Rico
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- US Virgin Islands
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
§6Sources and verification
- Sources consulted
- Verification
Medium confidence.
Partly verified
Medium confidence.Effective date not stated in the source read, so date_in_force is empty. Authority listed is not a single regulator; the Act is enforced through civil actions. In force date: LII note says the section is effective upon the expiration of 120 days after 10 Nov 1978 (Pub. L. 95-630 s.2101); 120 days after that date is 10 Mar 1979 (calculated).