§ 3405. — Administrative subpena and summons.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3405]
TITLE 12--BANKS AND BANKING
CHAPTER 35--RIGHT TO FINANCIAL PRIVACY
Sec. 3405. Administrative subpena and summons
A Government authority may obtain financial records under section
3402(2) of this title pursuant to an administrative subpena or summons
otherwise authorized by law only if--
(1) there is reason to believe that the records sought are
relevant to a legitimate law enforcement inquiry;
(2) a copy of the subpena or summons has been served upon the
customer or mailed to his last known address on or before the date
on which the subpena or summons was served on the financial
institution together with the following notice which shall state
with reasonable specificity the nature of the law enforcement
inquiry:
``Records or information concerning your transactions held by
the financial institution named in the attached subpena or summons
are being sought by this (agency or department) in accordance with
the Right to Financial Privacy Act of 1978 [12 U.S.C. 3401 et seq.]
for the following purpose: If you desire that such records or
information not be made available, you must:
``1. Fill out the accompanying motion paper and sworn
statement or write one of your own, stating that you are the
customer whose records are being requested by the Government and
either giving the reasons you believe that the records are not
relevant to the legitimate law enforcement inquiry stated in
this notice or any other legal basis for objecting to the
release of the records.
``2. File the motion and statement by mailing or delivering
them to the clerk of any one of the following United States
district courts:
.
``3. Serve the Government authority requesting the records
by mailing or delivering a copy of your motion and statement to
.
``4. Be prepared to come to court and present your position
in further detail.
``5. You do not need to have a lawyer, although you may wish
to employ one to represent you and protect your rights.
If you do not follow the above procedures, upon the expiration of
ten days from the date of service or fourteen days from the date of
mailing of this notice, the records or information requested therein
will be made available. These records may be transferred to other
Government authorities for legitimate law enforcement inquiries, in
which event you will be notified after the transfer.''; and
(3) ten days have expired from the date of service of the notice
or fourteen days have expired from the date of mailing the notice to
the customer and within such time period the customer has not filed
a sworn statement and motion to quash in an appropriate court, or
the customer challenge provisions of section 3410 of this title have
been complied with.
(Pub. L. 95-630, title XI, Sec. 1105, Nov. 10, 1978, 92 Stat. 3699.)
References in Text
The Right to Financial Privacy Act of 1978, referred to in par. (2),
is title XI of Pub. L. 95-630, Nov. 10, 1978, 92 Stat. 3697, which is
classified generally to this chapter (Sec. 3401 et seq.). For complete
classification of this Act to the Code, see Short Title note set out
under section 3401 of this title and Tables.
Section Referred to in Other Sections
This section is referred to in sections 3402, 3409, 3411 of this
title; title 15 section 78u.
