The Right to Financial Privacy Act
The Right to Financial Privacy Act was passed in 1978. This act gives individuals the right to keep their personal financial records private.
In other words, the RFPA requires federal government agencies to notify people before their bank discloses their personal financial information.
This Act also gives individuals the right to object. Before this Act was in place the government could access financial records without telling an individual first.
The RFPA does allow the government to access financial records without permission when a search warrant or a judicial subpoena or written request from an authorized government authority is present. This Act regulates Federal operations only. It doesn’t govern state or local government or private institutions.
If the Federal government wants to access bank records it will most likely be to investigate fraud or tax evasion, money laundering and other suspected criminal activity.
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