---
kind: "range"
citation: "12 U.S.C. §§ 3401–3422"
title: "12"
from: "3401"
to: "3422"
count: 22
release: "119-102"
url: "https://uscodex.org/usc/12/3401..3422"
---

# §3401. Definitions


For the purpose of this chapter, the term—

- (1) “[financial institution](/usc/12/1715k.md?p=h-1-C)”, except as provided in [section 3414 of this title](/usc/12/3414.md), means any [office](/usc/12/2279bb.md?p=4) of a [bank](/usc/12/1426a.md?p=g-1), savings [bank](/usc/12/1426a.md?p=g-1), card issuer as defined in section 1602(n)[^1] of [title 15](/usc/15.md), industrial loan [company](/usc/12/24a.md?p=g-1), trust [company](/usc/12/24a.md?p=g-1), [savings association](/usc/12/1861.md?p=b-5), building and loan, or homestead [association](/usc/12/1828.md?p=s-4-E-i) ([including](/usc/12/25b.md?p=a-3) cooperative [banks](/usc/12/221a.md?p=a)), [credit union](/usc/12/3423.md?p=a-1-E), or [consumer](/usc/12/5481.md?p=4) finance institution, located in any [State](/usc/12/1707.md?p=d) or territory of the United States, the District of Columbia, Puerto Rico, Guam, American Samoa, or the Virgin Islands;
- (2) “financial record” means an original of, a copy of, or information known to have been derived from, any record held by a [financial institution](/usc/12/1715k.md?p=h-1-C) pertaining to a [customer](#5)’s relationship with the [financial institution](/usc/12/1715k.md?p=h-1-C);
- (3) “Government authority” means any [agency](/usc/12/1422.md?p=12) or department of the United States, or any officer, employee, or agent thereof;
- (4) “person” means an individual or a partnership of five or fewer individuals;
- (5) “customer” means [any person](/usc/12/1715z–4a.md?p=a-2) or authorized representative of that [person](#4) who utilized or is utilizing any service of a [financial institution](/usc/12/1715k.md?p=h-1-C), or for whom a [financial institution](/usc/12/1715k.md?p=h-1-C) is acting or has acted as a fiduciary, in relation to an account maintained in the [person](#4)’s name;
- (6) “holding company” means—
  - (A) any [bank holding company](/usc/12/1813.md?p=w-2) (as defined in [section 1841 of this title](/usc/12/1841.md)); and
  - (B) any [company](/usc/12/24a.md?p=g-1) described in [section 1843(f)(1) of this title](/usc/12/1843.md?p=f-1);
- (7) “supervisory agency” means with respect to any particular [financial institution](/usc/12/1715k.md?p=h-1-C), [holding company](#6), or any [subsidiary](/usc/12/24a.md?p=g-1) of a [financial institution](/usc/12/1715k.md?p=h-1-C) or [holding company](#6), any of the following which has statutory authority to examine the financial condition, business operations, or records or transactions of that institution, [holding company](#6), or [subsidiary](/usc/12/24a.md?p=g-1)—
  - (A) the Federal [Deposit](/usc/12/5301.md?p=18-A) Insurance [Corporation](/usc/12/2277a.md?p=2);
  - (B) the [Bureau](/usc/12/5481.md?p=2) of [Consumer](/usc/12/5481.md?p=4) Financial Protection;
  - (C) the National [Credit Union](/usc/12/3423.md?p=a-1-E) Administration;
  - (D) the [Board](/usc/12/221a.md?p=a) of Governors of the Federal Reserve System;
  - (E) the Comptroller of the Currency;
  - (F) the Securities and Exchange Commission;
  - (G) the Commodity Futures Trading Commission;
  - (H) the Secretary of the Treasury, with respect to the [Bank](/usc/12/1426a.md?p=g-1) Secrecy Act (Public Law 91–508, title I) [[12 U.S.C. 1951](/usc/12/1951.md) et seq.] and subchapter II of [chapter 53](/usc/31/chstIV-ch53.md) of title 31; or
  - (I) any State banking or securities department or [agency](/usc/12/1422.md?p=12); and
- (8) “law enforcement inquiry” means a lawful investigation or official proceeding inquiring into a violation of, or failure to comply with, any criminal or civil statute or any regulation, rule, or order issued pursuant thereto.

# §3402. Access to financial records by Government authorities prohibited; exceptions


Except as provided by section [3403(c)](/usc/12/3403.md?p=c) or [(d)](/usc/12/3403.md?p=d), [3413](/usc/12/3413.md), or [3414](/usc/12/3414.md) of this title, no [Government authority](/usc/12/3401.md?p=3) may have access to or obtain copies of, or the information contained in the [financial records](/usc/12/3401.md?p=2) of any [customer](/usc/12/3401.md?p=5) from a [financial institution](/usc/12/1715k.md?p=h-1-C) unless the [financial records](/usc/12/3401.md?p=2) are reasonably described and—

- (1) such [customer](/usc/12/3401.md?p=5) has authorized such disclosure in accordance with [section 3404 of this title](/usc/12/3404.md);
- (2) such [financial records](/usc/12/3401.md?p=2) are disclosed in response to an administrative subpena or summons which meets the requirements of [section 3405 of this title](/usc/12/3405.md);
- (3) such [financial records](/usc/12/3401.md?p=2) are disclosed in response to a search warrant which meets the requirements of [section 3406 of this title](/usc/12/3406.md);
- (4) such [financial records](/usc/12/3401.md?p=2) are disclosed in response to a judicial subpena which meets the requirements of [section 3407 of this title](/usc/12/3407.md); or
- (5) such [financial records](/usc/12/3401.md?p=2) are disclosed in response to a formal written request which meets the requirements of [section 3408 of this title](/usc/12/3408.md).

# §3403. Confidentiality of financial records

- (a) **Release of records by financial institutions prohibited—** No [financial institution](/usc/12/1715k.md?p=h-1-C), or officer, employees, or agent of a [financial institution](/usc/12/1715k.md?p=h-1-C), may provide to any [Government authority](/usc/12/3401.md?p=3) access to or copies of, or the information contained in, the [financial records](/usc/12/3401.md?p=2) of any [customer](/usc/12/3401.md?p=5) except in accordance with the provisions of this chapter.
- (b) **Release of records upon certification of compliance with chapter—** A [financial institution](/usc/12/1715k.md?p=h-1-C) shall not release the [financial records](/usc/12/3401.md?p=2) of a [customer](/usc/12/3401.md?p=5) until the [Government authority](/usc/12/3401.md?p=3) seeking such records certifies in writing to the [financial institution](/usc/12/1715k.md?p=h-1-C) that it has complied with the applicable provisions of this chapter.
- (c) **Notification to Government authority of existence of relevant information in records—** Nothing in this chapter shall preclude any [financial institution](/usc/12/1715k.md?p=h-1-C), or any officer, employee, or agent of a [financial institution](/usc/12/1715k.md?p=h-1-C), from notifying a [Government authority](/usc/12/3401.md?p=3) that such institution, or officer, employee, or agent has information which may be relevant to a possible violation of any statute or regulation. Such information may include only the name or other identifying information concerning any individual, [corporation](/usc/12/2277a.md?p=2), or account involved in and the nature of any suspected illegal activity. Such information may be disclosed notwithstanding any constitution, law, or regulation of any [State](/usc/12/1707.md?p=d) or political subdivision thereof to the contrary. Any [financial institution](/usc/12/1715k.md?p=h-1-C), or officer, employee, or agent thereof, making a disclosure of information pursuant to this subsection, shall not be liable to the [customer](/usc/12/3401.md?p=5) under any law or regulation of the United States or any constitution, law, or regulation of any [State](/usc/12/1707.md?p=d) or political subdivision thereof, for such disclosure or for any failure to notify the [customer](/usc/12/3401.md?p=5) of such disclosure.
- (d) **Release of records as incident to perfection of security interest, proving a claim in bankruptcy, collecting a debt, or processing an application with regard to a Government loan, loan guarantee, etc.**
  - (1) Nothing in this chapter shall preclude a [financial institution](/usc/12/1715k.md?p=h-1-C), as an incident to perfecting a security interest, proving a claim in bankruptcy, or otherwise collecting on a debt owing either to the [financial institution](/usc/12/1715k.md?p=h-1-C) itself or in its role as a fiduciary, from providing copies of any [financial record](/usc/12/3401.md?p=2) to any court or [Government authority](/usc/12/3401.md?p=3).
  - (2) Nothing in this chapter shall preclude a [financial institution](/usc/12/1715k.md?p=h-1-C), as an incident to processing an application for assistance to a [customer](/usc/12/3401.md?p=5) in the form of a Government loan, loan guaranty, or loan insurance agreement, or as an incident to processing a [default](/usc/12/1467a.md?p=e-7-A) on, or administering, a Government guaranteed or insured loan, from initiating contact with an appropriate [Government authority](/usc/12/3401.md?p=3) for the purpose of providing any [financial record](/usc/12/3401.md?p=2) necessary to permit such authority to carry out its responsibilities under a loan, loan guaranty, or loan insurance agreement.

# §3404. Customer authorizations

- (a) **Statement furnished by customer to financial institution and Government authority; contents—** A [customer](/usc/12/3401.md?p=5) may authorize disclosure under [section 3402(1) of this title](/usc/12/3402.md?p=1) if he furnishes to the [financial institution](/usc/12/1715k.md?p=h-1-C) and to the [Government authority](/usc/12/3401.md?p=3) seeking to obtain such disclosure a signed and dated statement which—
  - (1) authorizes such disclosure for a period not in excess of three months;
  - (2) [states](/usc/12/1707.md?p=d) that the [customer](/usc/12/3401.md?p=5) may revoke such authorization at any time before the [financial records](/usc/12/3401.md?p=2) are disclosed;
  - (3) identifies the [financial records](/usc/12/3401.md?p=2) which are authorized to be disclosed;
  - (4) specifies the purposes for which, and the [Government authority](/usc/12/3401.md?p=3) to which, such records may be disclosed; and
  - (5) [states](/usc/12/1707.md?p=d) the [customer](/usc/12/3401.md?p=5)’s rights under this chapter.
- (b) **Authorization as condition of doing business prohibited—** No such authorization shall be required as a condition of doing business with any [financial institution](/usc/12/1715k.md?p=h-1-C).
- (c) **Right of customer to access to financial institution’s record of disclosures—** The [customer](/usc/12/3401.md?p=5) has the right, unless the [Government authority](/usc/12/3401.md?p=3) obtains a court order as provided in [section 3409 of this title](/usc/12/3409.md), to obtain a copy of the record which the [financial institution](/usc/12/1715k.md?p=h-1-C) shall keep of all instances in which the [customer](/usc/12/3401.md?p=5)’s record is disclosed to a [Government authority](/usc/12/3401.md?p=3) pursuant to this section, [including](/usc/12/25b.md?p=a-3) the identity of the [Government authority](/usc/12/3401.md?p=3) to which such disclosure is made.

# §3405. Administrative subpena and summons


A [Government authority](/usc/12/3401.md?p=3) may obtain [financial records](/usc/12/3401.md?p=2) under [section 3402(2) of this title](/usc/12/3402.md?p=2) 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](/usc/12/3401.md?p=8);
- (2) a copy of the subpena or summons has been served upon the [customer](/usc/12/3401.md?p=5) or mailed to his last known address on or before the date on which the subpena or summons was served on the [financial institution](/usc/12/1715k.md?p=h-1-C) together with the following notice which shall [state](/usc/12/1707.md?p=d) with reasonable specificity the nature of the [law enforcement inquiry](/usc/12/3401.md?p=8):

  “Records or information concerning your transactions held by the [financial institution](/usc/12/1715k.md?p=h-1-C) named in the attached subpena or summons are being sought by this ([agency](/usc/12/1422.md?p=12) or department) in accordance with the Right to Financial Privacy Act of 1978 [[12 U.S.C. 3401](/usc/12/3401.md) 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](/usc/12/3401.md?p=5) 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](/usc/12/3401.md?p=8) 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](/usc/12/221a.md?p=a) courts:

  .

  “3. Serve the [Government authority](/usc/12/3401.md?p=3) 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](/usc/12/3401.md?p=3) for legitimate [law enforcement inquiries](/usc/12/3401.md?p=8), 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](/usc/12/3401.md?p=5) and within such time period the [customer](/usc/12/3401.md?p=5) has not filed a sworn statement and motion to quash in an appropriate court, or the [customer](/usc/12/3401.md?p=5) challenge provisions of [section 3410 of this title](/usc/12/3410.md) have been complied with.

# §3406. Search warrants

- (a) **Applicability of Federal Rules of Criminal Procedure—** A [Government authority](/usc/12/3401.md?p=3) may obtain [financial records](/usc/12/3401.md?p=2) under [section 3402(3) of this title](/usc/12/3402.md?p=3) only if it obtains a search warrant pursuant to the Federal Rules of Criminal Procedure.
- (b) **Mailing of copy and notice to customer—** No later than ninety days after the [Government authority](/usc/12/3401.md?p=3) serves the search warrant, it shall mail to the [customer](/usc/12/3401.md?p=5)’s last known address a copy of the search warrant together with the following notice:

  “Records or information concerning your transactions held by the [financial institution](/usc/12/1715k.md?p=h-1-C) named in the attached search warrant were obtained by this ([agency](/usc/12/1422.md?p=12) or department) on (date) for the following purpose: . You may have rights under the Right to Financial Privacy Act of 1978 [[12 U.S.C. 3401](/usc/12/3401.md) et seq.].”.

- (c) **Court-ordered delays in mailing—** Upon application of the [Government authority](/usc/12/3401.md?p=3), a court may grant a delay in the mailing of the notice required in [subsection (b)](#b), which delay shall not exceed one hundred and eighty days following the service of the warrant, if the court makes the findings required in [section 3409(a) of this title](/usc/12/3409.md?p=a). If the court so finds, it shall enter an ex parte order granting the requested delay and an order prohibiting the [financial institution](/usc/12/1715k.md?p=h-1-C) from disclosing that records have been obtained or that a search warrant for such records has been executed. Additional delays of up to ninety days may be granted by the court upon application, but only in accordance with this subsection. Upon expiration of the period of delay of notification of the [customer](/usc/12/3401.md?p=5), the following notice shall be mailed to the [customer](/usc/12/3401.md?p=5) along with a copy of the search warrant:

  “Records or information concerning your transactions held by the [financial institution](/usc/12/1715k.md?p=h-1-C) named in the attached search warrant were obtained by this ([agency](/usc/12/1422.md?p=12) or department) on (date). Notification was delayed beyond the statutory ninety-day delay period pursuant to a determination by the court that such notice would seriously jeopardize an investigation concerning . You may have rights under the Right to Financial Privacy Act of 1978 [[12 U.S.C. 3401](/usc/12/3401.md) et seq.].”.


# §3407. Judicial subpena


A [Government authority](/usc/12/3401.md?p=3) may obtain [financial records](/usc/12/3401.md?p=2) under [section 3402(4) of this title](/usc/12/3402.md?p=4) pursuant to judicial subpena only if—

- (1) such subpena is authorized by law and there is reason to believe that the records sought are relevant to a legitimate [law enforcement inquiry](/usc/12/3401.md?p=8);
- (2) a copy of the subpena has been served upon the [customer](/usc/12/3401.md?p=5) or mailed to his last known address on or before the date on which the subpena was served on the [financial institution](/usc/12/1715k.md?p=h-1-C) together with the following notice which shall [state](/usc/12/1707.md?p=d) with reasonable specificity the nature of the [law enforcement inquiry](/usc/12/3401.md?p=8):

  “Records or information concerning your transactions which are held by the [financial institution](/usc/12/1715k.md?p=h-1-C) named in the attached subpena are being sought by this ([agency](/usc/12/1422.md?p=12) or department or authority) in accordance with the Right to Financial Privacy Act of 1978 [[12 U.S.C. 3401](/usc/12/3401.md) 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](/usc/12/3401.md?p=5) 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](/usc/12/3401.md?p=8) 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 the Court.

  “3. Serve the [Government authority](/usc/12/3401.md?p=3) 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](/usc/12/3401.md?p=3) for legitimate [law enforcement inquiries](/usc/12/3401.md?p=8), in which event you will be notified after the transfer;” and

- (3) ten days have expired from the date of service or fourteen days from the date of mailing of the notice to the [customer](/usc/12/3401.md?p=5) and within such time period the [customer](/usc/12/3401.md?p=5) has not filed a sworn statement and motion to quash in an appropriate court, or the [customer](/usc/12/3401.md?p=5) challenge provisions of [section 3410 of this title](/usc/12/3410.md) have been complied with.

# §3408. Formal written request


A [Government authority](/usc/12/3401.md?p=3) may request [financial records](/usc/12/3401.md?p=2) under [section 3402(5) of this title](/usc/12/3402.md?p=5) pursuant to a formal written request only if—

- (1) no administrative summons or subpena authority reasonably appears to be available to that [Government authority](/usc/12/3401.md?p=3) to obtain [financial records](/usc/12/3401.md?p=2) for the purpose for which such records are sought;
- (2) the request is authorized by regulations promulgated by the head of the [agency](/usc/12/1422.md?p=12) or department;
- (3) there is reason to believe that the rec­ords sought are relevant to a legitimate [law enforcement inquiry](/usc/12/3401.md?p=8); and
- (4)
  - (A) a copy of the request has been served upon the [customer](/usc/12/3401.md?p=5) or mailed to his last known address on or before the date on which the request was made to the [financial institution](/usc/12/1715k.md?p=h-1-C) together with the following notice which shall [state](/usc/12/1707.md?p=d) with reasonable specificity the nature of the [law enforcement inquiry](/usc/12/3401.md?p=8):

    “Records or information concerning your transactions held by the [financial institution](/usc/12/1715k.md?p=h-1-C) named in the attached request are being sought by this ([agency](/usc/12/1422.md?p=12) or department) in accordance with the Right to Financial Privacy Act of 1978 [[12 U.S.C. 3401](/usc/12/3401.md) 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](/usc/12/3401.md?p=5) 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](/usc/12/3401.md?p=8) 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](/usc/12/221a.md?p=a) Courts:

    .

    “3. Serve the [Government authority](/usc/12/3401.md?p=3) 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 may be made available. These records may be transferred to other [Government authorities](/usc/12/3401.md?p=3) for legitimate [law enforcement inquiries](/usc/12/3401.md?p=8), in which event you will be notified after the transfer;” and

  - (B) ten days have expired from the date of service or fourteen days from the date of mailing of the notice by the [customer](/usc/12/3401.md?p=5) and within such time period the [customer](/usc/12/3401.md?p=5) has not filed a sworn statement and an application to enjoin the [Government authority](/usc/12/3401.md?p=3) in an appropriate court, or the [customer](/usc/12/3401.md?p=5) challenge provisions of [section 3410 of this title](/usc/12/3410.md) have been complied with.

# §3409. Delayed notice

- (a) **Application by Government authority; findings—** Upon application of the [Government authority](/usc/12/3401.md?p=3), the [customer](/usc/12/3401.md?p=5) notice required under section [3404(c)](/usc/12/3404.md?p=c), [3405(2)](/usc/12/3405.md?p=2), [3406(c)](/usc/12/3406.md?p=c), [3407(2)](/usc/12/3407.md?p=2), [3408(4)](/usc/12/3408.md?p=4), or [3412(b)](/usc/12/3412.md?p=b) of this title may be delayed by order of an appropriate court if the presiding judge or magistrate judge finds that—
  - (1) the investigation being conducted is within the lawful jurisdiction of the [Government authority](/usc/12/3401.md?p=3) seeking the [financial records](/usc/12/3401.md?p=2);
  - (2) there is reason to believe that the rec­ords being sought are relevant to a legitimate [law enforcement inquiry](/usc/12/3401.md?p=8); and
  - (3) there is reason to believe that such notice will result in—
    - (A) endangering life or physical safety of [any person](/usc/12/1715z–4a.md?p=a-2);
    - (B) flight from prosecution;
    - (C) destruction of or tampering with evidence;
    - (D) intimidation of potential witnesses; or
    - (E) otherwise seriously jeopardizing an investigation or official proceeding or unduly delaying a trial or ongoing official proceeding to the same extent as the circumstances in the preceeding[^1] subparagraphs.

  An application for delay must be made with reasonable specificity.

- (b) **Grant of delay order; duration and specifications; extensions; copy of request and notice to customer—**
  - (1) If the court makes the findings required in paragraphs [(1)](#a-1), [(2)](#a-2), and [(3)](#a-3) of subsection (a), it shall enter an ex parte order granting the requested delay for a period not to exceed ninety days and an order prohibiting the [financial institution](/usc/12/1715k.md?p=h-1-C) from disclosing that records have been obtained or that a request for records has been made, except that, if the records have been sought by a [Government authority](/usc/12/3401.md?p=3) exercising financial [controls](/usc/12/24a.md?p=g-1) over foreign accounts in the United States under [section 4305(b) of title 50](/usc/50/4305.md?p=b), the International Emergency Economic Powers Act (title II, Public Law 95–223) [[50 U.S.C. 1701](/usc/50/1701.md) et seq.], or [section 287c of title 22](/usc/22/287c.md), and the court finds that there is reason to believe that such notice may endanger the lives or physical safety of a [customer](/usc/12/3401.md?p=5) or group of [customers](/usc/12/3401.md?p=5), or [any person](/usc/12/1715z–4a.md?p=a-2) or group of [persons](/usc/12/3401.md?p=4) associated with a [customer](/usc/12/3401.md?p=5), the court may specify that the delay be indefinite.
  - (2) Extensions of the delay of notice provided in [paragraph (1)](#b-1) of up to ninety days each may be granted by the court upon application, but only in accordance with this subsection.
  - (3) Upon expiration of the period of delay of notification under paragraph [(1)](#b-1) or [(2)](#b-2), the [customer](/usc/12/3401.md?p=5) shall be served with or mailed a copy of the process or request together with the following notice which shall [state](/usc/12/1707.md?p=d) with reasonable specificity the nature of the [law enforcement inquiry](/usc/12/3401.md?p=8):

    “Records or information concerning your transactions which are held by the [financial institution](/usc/12/1715k.md?p=h-1-C) named in the attached process or request were supplied to or requested by the [Government authority](/usc/12/3401.md?p=3) named in the process or request on (date). Notification was withheld pursuant to a determination by the (title of court so ordering) under the Right to Financial Privacy Act of 1978 [[12 U.S.C. 3401](/usc/12/3401.md) et seq.] that such notice might ([state](/usc/12/1707.md?p=d) reason). The purpose of the investigation or official proceeding was .”.

- (c) **Notice requirement respecting emergency access to financial records—** When access to [financial records](/usc/12/3401.md?p=2) is obtained pursuant to [section 3414(b) of this title](/usc/12/3414.md?p=b) (emergency access), the [Government authority](/usc/12/3401.md?p=3) shall, unless a court has authorized delay of notice pursuant to subsections [(a)](#a) and [(b)](#b), as soon as practicable after such records are obtained serve upon the [customer](/usc/12/3401.md?p=5), or mail by registered or certified mail to his last known address, a copy of the request to the [financial institution](/usc/12/1715k.md?p=h-1-C) together with the following notice which shall [state](/usc/12/1707.md?p=d) with reasonable specificity the nature of the [law enforcement inquiry](/usc/12/3401.md?p=8):

  “Records concerning your transactions held by the [financial institution](/usc/12/1715k.md?p=h-1-C) named in the attached request were obtained by ([agency](/usc/12/1422.md?p=12) or department) under the Right to Financial Privacy Act of 1978 [[12 U.S.C. 3401](/usc/12/3401.md) et seq.] on (date) for the following purpose: Emergency access to such records was obtained on the grounds that ([state](/usc/12/1707.md?p=d) grounds).”.

- (d) **Preservation of memorandums, affidavits, or other papers—** Any memorandum, affidavit, or other paper filed in connection with a request for delay in notification shall be preserved by the court. Upon petition by the [customer](/usc/12/3401.md?p=5) to whom such records pertain, the court may order disclosure of such papers to the petitioner unless the court makes the findings required in [subsection (a)](#a).

# §3410. Customer challenges

- (a) **Filing of motion to quash or application to enjoin; proper court; contents—** Within ten days of service or within fourteen days of mailing of a subpena, summons, or formal written request, a [customer](/usc/12/3401.md?p=5) may file a motion to quash an administrative summons or judicial subpena, or an application to enjoin a [Government authority](/usc/12/3401.md?p=3) from obtaining [financial records](/usc/12/3401.md?p=2) pursuant to a formal written request, with copies served upon the [Government authority](/usc/12/3401.md?p=3). A motion to quash a judicial subpena shall be filed in the court which issued the subpena. A motion to quash an administrative summons or an application to enjoin a [Government authority](/usc/12/3401.md?p=3) from obtaining records pursuant to a formal written request shall be filed in the appropriate United States [district](/usc/12/221a.md?p=a) court. Such motion or application shall contain an affidavit or sworn statement—
  - (1) stating that the applicant is a [customer](/usc/12/3401.md?p=5) of the [financial institution](/usc/12/1715k.md?p=h-1-C) from which [financial records](/usc/12/3401.md?p=2) pertaining to him have been sought; and
  - (2) stating the applicant’s reasons for believing that the [financial records](/usc/12/3401.md?p=2) sought are not relevant to the legitimate [law enforcement inquiry](/usc/12/3401.md?p=8) stated by the [Government authority](/usc/12/3401.md?p=3) in its notice, or that there has not been substantial compliance with the provisions of this chapter.

  Service shall be made under this section upon a [Government authority](/usc/12/3401.md?p=3) by delivering or mailing by registered or certified mail a copy of the papers to the [person](/usc/12/3401.md?p=4), [office](/usc/12/2279bb.md?p=4), or department specified in the notice which the [customer](/usc/12/3401.md?p=5) has received pursuant to this chapter. For the purposes of this section, “delivery” has the meaning stated in [rule 5(b)](/usc/28a/civil-5.md?p=b) of the Federal Rules of Civil Procedure.

- (b) **Filing of response; additional proceedings—** If the court finds that the [customer](/usc/12/3401.md?p=5) has complied with [subsection (a)](#a), it shall order the [Government authority](/usc/12/3401.md?p=3) to file a sworn response, which may be filed in camera if the Government [includes](/usc/12/25b.md?p=a-3) in its response the reasons which make in camera review appropriate. If the court is unable to determine the motion or application on the basis of the parties’ initial allegations and response, the court may conduct such additional proceedings as it deems appropriate. All such proceedings shall be completed and the motion or application decided within seven calendar days of the filing of the Government’s response.
- (c) **Decision of court—** If the court finds that the applicant is not the [customer](/usc/12/3401.md?p=5) to whom the [financial records](/usc/12/3401.md?p=2) sought by the [Government authority](/usc/12/3401.md?p=3) pertain, or that there is a demonstrable reason to believe that the [law enforcement inquiry](/usc/12/3401.md?p=8) is legitimate and a reasonable belief that the records sought are relevant to that inquiry, it shall deny the motion or application, and, in the case of an administrative summons or court order other than a search warrant, order such process enforced. If the court finds that the applicant is the [customer](/usc/12/3401.md?p=5) to whom the records sought by the [Government authority](/usc/12/3401.md?p=3) pertain, and that there is not a demonstrable reason to believe that the [law enforcement inquiry](/usc/12/3401.md?p=8) is legitimate and a reasonable belief that the records sought are relevant to that inquiry, or that there has not been substantial compliance with the provisions of this chapter, it shall order the process quashed or shall enjoin the Government au­thority’s formal written request.
- (d) **Appeals—** A court ruling denying a motion or application under this section shall not be deemed a final order and no interlocutory appeal may be taken therefrom by the [customer](/usc/12/3401.md?p=5). An appeal of a ruling denying a motion or application under this section may be taken by the [customer](/usc/12/3401.md?p=5) (1) within such period of time as provided by law as part of any appeal from a final order in any legal proceeding initiated against him arising out of or based upon the [financial records](/usc/12/3401.md?p=2), or (2) within thirty days after a notification that no legal proceeding is contemplated against him. The [Government authority](/usc/12/3401.md?p=3) obtaining the [financial records](/usc/12/3401.md?p=2) shall promptly notify a [customer](/usc/12/3401.md?p=5) when a determination has been made that no legal proceeding against him is contemplated. After one hundred and eighty days from the denial of the motion or application, if the [Government authority](/usc/12/3401.md?p=3) obtaining the records has not initiated such a proceeding, a supervisory official of the [Government authority](/usc/12/3401.md?p=3) shall certify to the appropriate court that no such determination has been made. The court may require that such certifications be made, at reasonable intervals thereafter, until either notification to the [customer](/usc/12/3401.md?p=5) has occurred or a legal proceeding is initiated as described in clause (A).[^1]
- (e) **Sole judicial remedy available to customer—** The challenge procedures of this chapter constitute the sole judicial remedy available to a [customer](/usc/12/3401.md?p=5) to oppose disclosure of financial rec­ords pursuant to this chapter.
- (f) **Affect on challenges by financial institutions—** Nothing in this chapter shall enlarge or restrict any rights of a [financial institution](/usc/12/1715k.md?p=h-1-C) to challenge requests for records made by a [Government authority](/usc/12/3401.md?p=3) under existing law. Nothing in this chapter shall entitle a [customer](/usc/12/3401.md?p=5) to assert the rights of a [financial institution](/usc/12/1715k.md?p=h-1-C).

# §3411. Duty of financial institutions


Upon receipt of a request for financial rec­ords made by a [Government authority](/usc/12/3401.md?p=3) under section [3405](/usc/12/3405.md) or [3407](/usc/12/3407.md) of this title, the [financial institution](/usc/12/1715k.md?p=h-1-C) shall, unless otherwise provided by law, proceed to assemble the records requested and must be prepared to deliver the records to the [Government authority](/usc/12/3401.md?p=3) upon receipt of the certificate required under [section 3403(b) of this title](/usc/12/3403.md?p=b).


# §3412. Use of information

- (a) **Transfer of financial records to other agencies or departments; certification—** [Financial records](/usc/12/3401.md?p=2) originally obtained pursuant to this chapter shall not be transferred to another [agency](/usc/12/1422.md?p=12) or department unless the transferring [agency](/usc/12/1422.md?p=12) or department certifies in writing that there is reason to believe that the rec­ords are relevant to a legitimate [law enforcement inquiry](/usc/12/3401.md?p=8), or intelligence or counterintelligence activity, investigation or analysis related to international terrorism within the jurisdiction of the receiving [agency](/usc/12/1422.md?p=12) or department.
- (b) **Mailing of copy of certification and notice to customer—** When [financial records](/usc/12/3401.md?p=2) subject to this chapter are transferred pursuant to [subsection (a)](#a), the transferring [agency](/usc/12/1422.md?p=12) or department shall, within fourteen days, send to the [customer](/usc/12/3401.md?p=5) a copy of the certification made pursuant to [subsection (a)](#a) and the following notice, which shall [state](/usc/12/1707.md?p=d) the nature of the [law enforcement inquiry](/usc/12/3401.md?p=8) with reasonable specificity: “Copies of, or information contained in, your [financial records](/usc/12/3401.md?p=2) lawfully in possession of have been furnished to pursuant to the Right of Financial Privacy Act of 1978 [[12 U.S.C. 3401](/usc/12/3401.md) et seq.] for the following purpose: . If you believe that this transfer has not been made to further a legitimate [law enforcement inquiry](/usc/12/3401.md?p=8), you may have legal rights under the Financial Privacy Act of 1978 or the Privacy Act of 1974 [[5 U.S.C. 552a](/usc/5/552a.md)].”
- (c) **Court-ordered delays in mailing—** Notwithstanding [subsection (b)](#b), notice to the [customer](/usc/12/3401.md?p=5) may be delayed if the transferring [agency](/usc/12/1422.md?p=12) or department has obtained a court order delaying notice pursuant to section [3409(a)](/usc/12/3409.md?p=a) and [(b)](/usc/12/3409.md?p=b) of this title and that order is still in effect, or if the receiving [agency](/usc/12/1422.md?p=12) or department obtains a court order authorizing a delay in notice pursuant to section [3409(a)](/usc/12/3409.md?p=a) and [(b)](/usc/12/3409.md?p=b) of this title. Upon the expiration of any such period of delay, the transferring [agency](/usc/12/1422.md?p=12) or department shall serve to the [customer](/usc/12/3401.md?p=5) the notice specified in [subsection (b)](#b) and the [agency](/usc/12/1422.md?p=12) or department that obtained the court order authorizing a delay in notice pursuant to section [3409(a)](/usc/12/3409.md?p=a) and [(b)](/usc/12/3409.md?p=b) of this title shall serve to the [customer](/usc/12/3401.md?p=5) the notice specified in [section 3409(b) of this title](/usc/12/3409.md?p=b).
- (d) **Exchanges of examination reports by supervisory agencies; transfer of financial records to defend customer action; withholding of information—** Nothing in this chapter prohibits any [supervisory agency](/usc/12/3401.md?p=7) from exchanging examination reports or other information with another [supervisory agency](/usc/12/3401.md?p=7). Nothing in this chapter prohibits the transfer of a [customer](/usc/12/3401.md?p=5)’s [financial records](/usc/12/3401.md?p=2) needed by counsel for a [Government authority](/usc/12/3401.md?p=3) to defend an action brought by the [customer](/usc/12/3401.md?p=5). Nothing in this chapter shall authorize the withholding of information by any officer or employee of a [supervisory agency](/usc/12/3401.md?p=7) from a duly authorized committee or subcommittee of the Congress.
- (e) **Exchange of records, reports, or other information—** Notwithstanding [section 3401(6)](/usc/12/3401.md?p=6)[^1] of this title or any other provision of law, the exchange of [financial records](/usc/12/3401.md?p=2), examination reports or other information with respect to a [financial institution](/usc/12/1715k.md?p=h-1-C), [holding company](/usc/12/3401.md?p=6), or any [subsidiary](/usc/12/24a.md?p=g-1) of a [depository institution](/usc/12/24a.md?p=g-2) or [holding company](/usc/12/3401.md?p=6), among and between the five [member](/usc/12/1426a.md?p=g-1) [supervisory agencies](/usc/12/3401.md?p=7) of the Federal [Financial Institutions](/usc/12/1715k.md?p=h-1-C) Examination Council, the Securities and Exchange Commission, the Federal Trade Commission, the Commodity Futures Trading Commission, and the [Bureau](/usc/12/5481.md?p=2) of [Consumer](/usc/12/5481.md?p=4) Financial Protection is permitted.
- (f) **Transfer to Attorney General or Secretary of the Treasury—**
  - (1) **In general—** Nothing in this chapter shall apply when [financial records](/usc/12/3401.md?p=2) obtained by an [agency](/usc/12/1422.md?p=12) or department of the United States are disclosed or transferred to the Attorney General or the Secretary of the Treasury upon the certification by a supervisory level official of the transferring [agency](/usc/12/1422.md?p=12) or department that—
    - (A) there is reason to believe that the records may be relevant to a violation of Federal criminal law; and
    - (B) the records were obtained in the exercise of the [agency](/usc/12/1422.md?p=12)’s or department’s supervisory or regulatory functions.
  - (2) **Limitation on use—** Records so transferred shall be used only for criminal investigative or prosecutive purposes, for civil actions under [section 1833a of this title](/usc/12/1833a.md), or for forfeiture under sections[^2] 981 or 982 of [title 18](/usc/18.md) by the Department of Justice and only for criminal investigative purposes relating to money laundering and other financial crimes by the Department of the Treasury and shall, upon completion of the investigation or prosecution ([including](/usc/12/25b.md?p=a-3) any appeal), be returned only to the transferring [agency](/usc/12/1422.md?p=12) or department. No [agency](/usc/12/1422.md?p=12) or department so transferring such records shall be deemed to have waived any privilege applicable to those records under law.

# §3413. Exceptions

- (a) **Disclosure of financial records not identified with particular customers—** Nothing in this chapter prohibits the disclosure of any [financial records](/usc/12/3401.md?p=2) or information which is not identified with or identifiable as being derived from the [financial records](/usc/12/3401.md?p=2) of a particular [customer](/usc/12/3401.md?p=5).
- (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](/usc/12/3401.md?p=7) of [financial records](/usc/12/3401.md?p=2) or information in the exercise of its supervisory, regulatory, or monetary functions, [including](/usc/12/25b.md?p=a-3) conservatorship or receivership functions, with respect to any [financial institution](/usc/12/1715k.md?p=h-1-C), [holding company](/usc/12/3401.md?p=6), [subsidiary](/usc/12/24a.md?p=g-1) of a [financial institution](/usc/12/1715k.md?p=h-1-C) or [holding company](/usc/12/3401.md?p=6), institution-affiliated party (within the meaning of [section 1813(u) of this title](/usc/12/1813.md?p=u)) with respect to a [financial institution](/usc/12/1715k.md?p=h-1-C), [holding company](/usc/12/3401.md?p=6), or [subsidiary](/usc/12/24a.md?p=g-1), or other [person](/usc/12/3401.md?p=4) participating in the conduct of the affairs thereof.
- (c) **Disclosure pursuant to title 26—** Nothing in this chapter prohibits the disclosure of [financial records](/usc/12/3401.md?p=2) in accordance with procedures authorized by [title 26](/usc/26.md).
- (d) **Disclosure pursuant to Federal statute or rule promulgated thereunder—** Nothing in this chapter shall authorize the withholding of [financial records](/usc/12/3401.md?p=2) 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](/usc/12/3401.md?p=2) are sought by a [Government authority](/usc/12/3401.md?p=3) under the Federal Rules of Civil or Criminal Procedure or comparable rules of other courts in connection with litigation to which the [Government authority](/usc/12/3401.md?p=3) and the [customer](/usc/12/3401.md?p=5) are parties.
- (f) **Disclosure pursuant to administrative subpena issued by administrative law judge—** Nothing in this chapter shall apply when [financial records](/usc/12/3401.md?p=2) are sought by a [Government authority](/usc/12/3401.md?p=3) pursuant to an administrative subpena issued by an administrative law judge in an adjudicatory proceeding subject to [section 554 of title 5](/usc/5/554.md) and to which the [Government authority](/usc/12/3401.md?p=3) and the [customer](/usc/12/3401.md?p=5) 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](/usc/12/3410.md) and [3412](/usc/12/3412.md) of this title shall not apply when a [Government authority](/usc/12/3401.md?p=3) by a means described in [section 3402 of this title](/usc/12/3402.md) and for a legitimate [law enforcement inquiry](/usc/12/3401.md?p=8) is seeking only the name, address, account number, and type of account of any [customer](/usc/12/3401.md?p=5) or ascertainable group of [customers](/usc/12/3401.md?p=5) 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](/usc/12/3401.md?p=3) exercising financial [controls](/usc/12/24a.md?p=g-1) over foreign accounts in the United States under [section 4305(b) of title 50](/usc/50/4305.md?p=b); the International Emergency Economic Powers Act (title II, Public Law 95–223) [[50 U.S.C. 1701](/usc/50/1701.md) et seq.]; or [section 287c of title 22](/usc/22/287c.md).
- (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](/usc/12/3403.md), [3417](/usc/12/3417.md) and [3418](/usc/12/3418.md) of this title) shall apply when [financial records](/usc/12/3401.md?p=2) are sought by a [Government authority](/usc/12/3401.md?p=3)—
    - (A) in connection with a lawful proceeding, investigation, examination, or inspection directed at a [financial institution](/usc/12/1715k.md?p=h-1-C) (whether or not such proceeding, investigation, examination, or inspection is also directed at a [customer](/usc/12/3401.md?p=5)) or at a legal entity which is not a [customer](/usc/12/3401.md?p=5); or
    - (B) in connection with the authority’s consideration or administration of assistance to the [customer](/usc/12/3401.md?p=5) in the form of a Government loan, loan guaranty, or loan insurance program.
  - (2) When [financial records](/usc/12/3401.md?p=2) are sought pursuant to this subsection, the [Government authority](/usc/12/3401.md?p=3) shall submit to the [financial institution](/usc/12/1715k.md?p=h-1-C) the certificate required by [section 3403(b) of this title](/usc/12/3403.md?p=b). For access pursuant to [paragraph (1)(B)](#h-1-B), no further certification shall be required for subsequent access by the certifying [Government authority](/usc/12/3401.md?p=3) during the term of the loan, loan guaranty, or loan insurance agreement.
  - (3) After the effective date of this chapter, whenever a [customer](/usc/12/3401.md?p=5) applies for [participation](/usc/12/2206a.md?p=a-1) in a Government loan, loan guaranty, or loan insurance program, the [Government authority](/usc/12/3401.md?p=3) administering such program shall give the [customer](/usc/12/3401.md?p=5) 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](/usc/12/3401.md?p=2) 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](/usc/12/1422.md?p=12) or department only when the transfer is to facilitate a lawful proceeding, investigation, examination, or inspection directed at a [financial institution](/usc/12/1715k.md?p=h-1-C) (whether or not such proceeding, investigation, examination, or inspection is also directed at a [customer](/usc/12/3401.md?p=5)), or at a legal entity which is not a [customer](/usc/12/3401.md?p=5), except that—
    - (A) nothing in this paragraph prohibits the use or transfer of a [customer](/usc/12/3401.md?p=5)’s [financial records](/usc/12/3401.md?p=2) needed by counsel representing a [Government authority](/usc/12/3401.md?p=3) 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](/usc/12/3401.md?p=3) providing assistance to a [customer](/usc/12/3401.md?p=5) in the form of a loan, loan guaranty, or loan insurance agreement from using or transferring [financial records](/usc/12/3401.md?p=2) necessary to process, service or foreclose a loan, or to collect on an indebtedness to the Government resulting from a [customer](/usc/12/3401.md?p=5)’s [default](/usc/12/1467a.md?p=e-7-A).
  - (5) Notification that [financial records](/usc/12/3401.md?p=2) obtained pursuant to this subsection may relate to a potential civil, criminal, or regulatory violation by a [customer](/usc/12/3401.md?p=5) may be given to an [agency](/usc/12/1422.md?p=12) or department with jurisdiction over that violation, and such [agency](/usc/12/1422.md?p=12) or department may then seek access to the records pursuant to the provisions of this chapter.
  - (6) Each [financial institution](/usc/12/1715k.md?p=h-1-C) shall keep a notation of each disclosure made pursuant to paragraph (1)(B) of this subsection, [including](/usc/12/25b.md?p=a-3) the date of such disclosure and the [Government authority](/usc/12/3401.md?p=3) to which it was made. The [customer](/usc/12/3401.md?p=5) 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](/usc/12/3415.md) and [3420](/usc/12/3420.md) 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](/usc/12/1715k.md?p=h-1-C), on which a grand jury subpoena for [customer](/usc/12/3401.md?p=5) records has been served, not to notify the [customer](/usc/12/3401.md?p=5) 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](/usc/12/3409.md).
- (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](/usc/12/3401.md?p=2) are sought by the Government Accountability [Office](/usc/12/2279bb.md?p=4) pursuant to an authorized proceeding, investigation, examination or audit directed at a [government authority](/usc/12/3401.md?p=3).
- (k) **Disclosure necessary for proper administration of programs of certain Government authorities—**
  - (1) Nothing in this chapter shall apply to the disclosure by the [financial institution](/usc/12/1715k.md?p=h-1-C) of the name and address of any [customer](/usc/12/3401.md?p=5) to the Department of the Treasury, the Social Security Administration, or the Railroad Retirement [Board](/usc/12/221a.md?p=a), 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](/usc/26/1441.md), title II of the Social Security Act [[42 U.S.C. 401](/usc/42/401.md) et seq.], or the Railroad Retirement Act of 1974 [[45 U.S.C. 231](/usc/45/231.md) et seq.].
  - (2) Nothing in this chapter shall apply to the disclosure by the [financial institution](/usc/12/1715k.md?p=h-1-C) of information contained in the [financial records](/usc/12/3401.md?p=2) of any [customer](/usc/12/3401.md?p=5) to any [Government authority](/usc/12/3401.md?p=3) 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](/usc/12/1715z–4a.md?p=a-2) or proper routing and delivery of [funds](/usc/12/4702.md?p=10) in connection with the issuance of a Federal payment or collection of [funds](/usc/12/4702.md?p=10) by a [Government authority](/usc/12/3401.md?p=3); or
    - (B) the investigation or recovery of an improper Federal payment or collection of [funds](/usc/12/4702.md?p=10) or an improperly negotiated Treasury check.
  - (3) Notwithstanding any other provision of law, a request authorized by paragraph [(1)](#k-1) or [(2)](#k-2) (and the information contained therein) may be used by the [financial institution](/usc/12/1715k.md?p=h-1-C) or its agents solely for the purpose of providing information contained in the [financial records](/usc/12/3401.md?p=2) of the [customer](/usc/12/3401.md?p=5) to the [Government authority](/usc/12/3401.md?p=3) requesting the information, and the [financial institution](/usc/12/1715k.md?p=h-1-C) and its agents shall be barred from redisclosure of such information. Any [Government authority](/usc/12/3401.md?p=3) receiving information pursuant to paragraph [(1)](#k-1) or [(2)](#k-2) may not disclose or use the information, except for the purposes set forth in such paragraph.
- (l) **Crimes against financial institutions by insiders—** Nothing in this chapter shall apply when any [financial institution](/usc/12/1715k.md?p=h-1-C) or [supervisory agency](/usc/12/3401.md?p=7) provides any [financial record](/usc/12/3401.md?p=2) of any officer, [director](/usc/12/2279bb.md?p=3), employee, or controlling shareholder (within the meaning of subparagraph (A) or (B) of [section 1841(a)(2) of this title](/usc/12/1841.md?p=a-2) or subparagraph (A) or (B) of [section 1730a(a)(2) of this title](https://uscode.house.gov/view.xhtml?req=(/us/usc/t12/s1730a/a/2))) 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](/usc/12/2279bb.md?p=3), employee, or controlling shareholder, to the Attorney General of the United States, to a [State](/usc/12/1707.md?p=d) law enforcement [agency](/usc/12/1422.md?p=12), or, in the case of a possible violation of subchapter II of [chapter 53](/usc/31/chstIV-ch53.md) 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](/usc/12/3401.md?p=4) of—
  - (1) any law relating to crimes against [financial institutions](/usc/12/1715k.md?p=h-1-C) or [supervisory agencies](/usc/12/3401.md?p=7) by [directors](/usc/12/2279bb.md?p=3), officers, employees, or controlling shareholders of, or by borrowers from, [financial institutions](/usc/12/1715k.md?p=h-1-C); or
  - (2) any provision of subchapter II of [chapter 53](/usc/31/chstIV-ch53.md) of title 31 or of section [1956](/usc/18/1956.md) or [1957](/usc/18/1957.md) of title 18.

  No [supervisory agency](/usc/12/3401.md?p=7) 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](/usc/12/221a.md?p=a) of Governors of the Federal Reserve System or any Federal [Reserve Bank](/usc/12/221a.md?p=a) of [financial records](/usc/12/3401.md?p=2) or information in the exercise of the Federal Reserve System’s authority to extend [credit](/usc/12/5481.md?p=7) to the [financial institutions](/usc/12/1715k.md?p=h-1-C) 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](/usc/12/2277a.md?p=2) or its employees or agents of [financial records](/usc/12/3401.md?p=2) or information in the exercise of its conservatorship, receivership, or liquidation functions with respect to a [financial institution](/usc/12/1715k.md?p=h-1-C).
- (o) **Disclosure to, or examination by, Federal Housing Finance Agency or Federal home loan banks—** This chapter shall not apply to the examination by or disclosure to the Federal Housing Finance [Agency](/usc/12/1422.md?p=12) or any of the [Federal home loan banks](/usc/12/1426a.md?p=g-1) of [financial records](/usc/12/3401.md?p=2) or information in the exercise of the Federal Housing Finance [Agency](/usc/12/1422.md?p=12)’s authority to extend [credit](/usc/12/5481.md?p=7) (either directly or through a [Federal home loan bank](/usc/12/1426a.md?p=g-1)) to [financial institutions](/usc/12/1715k.md?p=h-1-C) 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](/usc/12/1715k.md?p=h-1-C) of the name and address of any [customer](/usc/12/3401.md?p=5) 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)](#p-1) (and the information contained therein) may be used by the [financial institution](/usc/12/1715k.md?p=h-1-C) or its agents solely for the purpose of providing the [customer](/usc/12/3401.md?p=5)’s name and address to the Department of Veterans Affairs and shall be barred from redisclosure by the [financial institution](/usc/12/1715k.md?p=h-1-C) 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](/usc/12/3401.md?p=2) or information to a [Government authority](/usc/12/3401.md?p=3) in conjunction with a Federal contractor-issued travel charge card issued for official Government travel.
- (r) **Disclosure to the Bureau of Consumer Financial Protection—** Nothing in this chapter shall apply to the examination by or disclosure to the [Bureau](/usc/12/5481.md?p=2) of [Consumer](/usc/12/5481.md?p=4) Financial Protection of [financial records](/usc/12/3401.md?p=2) or information in the exercise of its authority with respect to a [financial institution](/usc/12/1715k.md?p=h-1-C).

# §3414. Special procedures

- (a) **Access to financial records for certain intelligence and protective purposes—**
  - (1) Nothing in this chapter (except sections [3415](/usc/12/3415.md), [3417](/usc/12/3417.md), [3418](/usc/12/3418.md), and [3421](/usc/12/3421.md)[^1] of this title) shall apply to the production and disclosure of [financial records](/usc/12/3401.md?p=2) pursuant to requests from—
    - (A) a [Government authority](/usc/12/3401.md?p=3) authorized to conduct foreign counter- or foreign positive-intelligence activities for purposes of conducting such activities;
    - (B) the Secret Service for the purpose of conducting its protective functions ([18 U.S.C. 3056](/usc/18/3056.md); [18 U.S.C. 3056A](/usc/18/3056A.md), Public Law 90–331,[^1] as amended); or
    - (C) a [Government authority](/usc/12/3401.md?p=3) authorized to conduct investigations of, or intelligence or counterintelligence analyses related to, international terrorism for the purpose of conducting such investigations or analyses.
  - (2) In the instances specified in [paragraph (1)](#a-1), the [Government authority](/usc/12/3401.md?p=3) shall submit to the [financial institution](#e) the certificate required in [section 3403(b) of this title](/usc/12/3403.md?p=b) signed by a supervisory official of a rank designated by the head of the [Government authority](/usc/12/3401.md?p=3) and a term that specifically identifies a [customer](/usc/12/3401.md?p=5), entity, or account to be used as the basis for the production and disclosure of [financial records](/usc/12/3401.md?p=2).
  - (3)
    - (A) If the [Government authority](/usc/12/3401.md?p=3) described in [paragraph (1)](#a-1) or the Secret Service, as the case may be, certifies that otherwise there may result a danger to the national security of the United States, interference with a criminal, counterterrorism, or counterintelligence investigation, interference with diplomatic relations, or danger to the life or physical safety of [any person](/usc/12/1715z–4a.md?p=a-2), no [financial institution](#e), or officer, employee, or agent of such institution, shall disclose to [any person](/usc/12/1715z–4a.md?p=a-2) (other than those to whom such disclosure is necessary to comply with the request or an attorney to obtain legal advice or legal assistance with respect to the request) that the [Government authority](/usc/12/3401.md?p=3) or the Secret Service has sought or obtained access to a [customer](/usc/12/3401.md?p=5)’s [financial records](/usc/12/3401.md?p=2).
    - (B) The request shall notify the [person](/usc/12/3401.md?p=4) or entity to whom the request is directed of the nondisclosure requirement under [subparagraph (A)](#a-3-A).
    - (C) Any recipient disclosing to those [persons](/usc/12/3401.md?p=4) necessary to comply with the request or to an attorney to obtain legal advice or legal assistance with respect to the request shall inform such [persons](/usc/12/3401.md?p=4) of any applicable nondisclosure requirement. [Any person](/usc/12/1715z–4a.md?p=a-2) who receives a disclosure under this subsection shall be subject to the same prohibitions on disclosure under [subparagraph (A)](#a-3-A).
    - (D) At the request of the authorized [Government authority](/usc/12/3401.md?p=3) or the Secret Service, [any person](/usc/12/1715z–4a.md?p=a-2) making or intending to make a disclosure under this section shall identify to the requesting official of the authorized [Government authority](/usc/12/3401.md?p=3) or the Secret Service the [person](/usc/12/3401.md?p=4) to whom such disclosure will be made or to whom such disclosure was made prior to the request, except that nothing in this section shall require a [person](/usc/12/3401.md?p=4) to inform the requesting official of the authorized [Government authority](/usc/12/3401.md?p=3) or the Secret Service of the identity of an attorney to whom disclosure was made or will be made to obtain legal advice or legal assistance with respect to the request for [financial records](/usc/12/3401.md?p=2) under this subsection.
  - (4) The [Government authority](/usc/12/3401.md?p=3) specified in [paragraph (1)](#a-1) shall compile an annual tabulation of the occasions in which this section was used.
  - (5)
    - (A) [Financial institutions](#e), and officers, employees, and agents thereof, shall comply with a request for a [customer](/usc/12/3401.md?p=5)’s or entity’s [financial records](/usc/12/3401.md?p=2) made pursuant to this subsection by the Federal [Bureau](/usc/12/5481.md?p=2) of Investigation when the [Director](/usc/12/2279bb.md?p=3) of the Federal [Bureau](/usc/12/5481.md?p=2) of Investigation (or the [Director](/usc/12/2279bb.md?p=3)’s designee in a position not lower than Deputy Assistant [Director](/usc/12/2279bb.md?p=3) at [Bureau](/usc/12/5481.md?p=2) headquarters or a Special Agent in Charge in a [Bureau](/usc/12/5481.md?p=2) field [office](/usc/12/2279bb.md?p=4) designated by the [Director](/usc/12/2279bb.md?p=3)) certifies in writing to the [financial institution](#e) that such records are sought for foreign counter intelligence[^2] purposes to protect against international terrorism or clandestine intelligence activities, provided that such an investigation of a United States [person](/usc/12/3401.md?p=4) is not conducted solely upon the basis of activities protected by the first amendment to the Constitution of the United States.
    - (B) The Federal [Bureau](/usc/12/5481.md?p=2) of Investigation may disseminate information obtained pursuant to this paragraph only as provided in guidelines approved by the Attorney General for foreign intelligence collection and foreign counterintelligence investigations conducted by the Federal [Bureau](/usc/12/5481.md?p=2) of Investigation, and, with respect to dissemination to an [agency](/usc/12/1422.md?p=12) of the United States, only if such information is clearly relevant to the authorized responsibilities of such [agency](/usc/12/1422.md?p=12).
    - (C) On the dates provided in [section 3106 of title 50](/usc/50/3106.md), the Attorney General shall fully inform the congressional intelligence committees (as defined in [section 3003 of title 50](/usc/50/3003.md)) concerning all requests made pursuant to this paragraph.
- (b) **Emergency access to financial records—**
  - (1) Nothing in this chapter shall prohibit a [Government authority](/usc/12/3401.md?p=3) from obtaining [financial records](/usc/12/3401.md?p=2) from a [financial institution](/usc/12/1715k.md?p=h-1-C) if the [Government authority](/usc/12/3401.md?p=3) determines that delay in obtaining access to such records would create imminent danger of—
    - (A) physical injury to [any person](/usc/12/1715z–4a.md?p=a-2);
    - (B) serious property damage; or
    - (C) flight to avoid prosecution.
  - (2) In the instances specified in [paragraph (1)](#b-1), the Government shall submit to the [financial institution](/usc/12/1715k.md?p=h-1-C) the certificate required in [section 3403(b) of this title](/usc/12/3403.md?p=b) signed by a supervisory official of a rank designated by the head of the [Government authority](/usc/12/3401.md?p=3).
  - (3) Within five days of obtaining access to [financial records](/usc/12/3401.md?p=2) under this subsection, the [Government authority](/usc/12/3401.md?p=3) shall file with the appropriate court a signed, sworn statement of a supervisory official of a rank designated by the head of the [Government authority](/usc/12/3401.md?p=3) setting forth the grounds for the emergency access. The [Government authority](/usc/12/3401.md?p=3) shall thereafter comply with the notice provisions of [section 3409(c) of this title](/usc/12/3409.md?p=c).
  - (4) The [Government authority](/usc/12/3401.md?p=3) specified in [paragraph (1)](#b-1) shall compile an annual tabulation of the occasions in which this section was used.
- (c) **Prohibition of certain disclosure—**
  - (1) **Prohibition—**
    - (A) **In general—** If a certification is issued under [subparagraph (B)](#c-1-B) and notice of the right to judicial review under [subsection (d)](#d) is provided, no [financial institution](/usc/12/1715k.md?p=h-1-C) that receives a request under [subsection (a)](#a), or officer, employee, or agent thereof, shall disclose to [any person](/usc/12/1715z–4a.md?p=a-2) that the Federal [Bureau](/usc/12/5481.md?p=2) of Investigation has sought or obtained access to information or records under [subsection (a)](#a).
    - (B) **Certification—** The requirements of [subparagraph (A)](#c-1-A) shall apply if the [Director](/usc/12/2279bb.md?p=3) of the Federal [Bureau](/usc/12/5481.md?p=2) of Investigation, or a designee of the [Director](/usc/12/2279bb.md?p=3) whose rank shall be no lower than Deputy Assistant [Director](/usc/12/2279bb.md?p=3) at [Bureau](/usc/12/5481.md?p=2) headquarters or a Special Agent in Charge of a [Bureau](/usc/12/5481.md?p=2) field [office](/usc/12/2279bb.md?p=4), certifies that the absence of a prohibition of disclosure under this subsection may result in—
      - (i) a danger to the national security of the United States;
      - (ii) interference with a criminal, counterterrorism, or counterintelligence investigation;
      - (iii) interference with diplomatic relations; or
      - (iv) danger to the life or physical safety of [any person](/usc/12/1715z–4a.md?p=a-2).
  - (2) **Exception—**
    - (A) **In general—** A [financial institution](/usc/12/1715k.md?p=h-1-C) that receives a request under [subsection (a)](#a), or officer, employee, or agent thereof, may disclose information otherwise subject to any applicable nondisclosure requirement to—
      - (i) those [persons](/usc/12/3401.md?p=4) to whom disclosure is necessary in order to comply with the request;
      - (ii) an attorney in order to obtain legal advice or assistance regarding the request; or
      - (iii) other [persons](/usc/12/3401.md?p=4) as permitted by the [Director](/usc/12/2279bb.md?p=3) of the Federal [Bureau](/usc/12/5481.md?p=2) of Investigation or the designee of the [Director](/usc/12/2279bb.md?p=3).
    - (B) **Application—** A [person](/usc/12/3401.md?p=4) to whom disclosure is made under [subparagraph (A)](#c-2-A) shall be subject to the nondisclosure requirements applicable to a [person](/usc/12/3401.md?p=4) to whom a request is issued under [subsection (a)](#a) in the same manner as the [person](/usc/12/3401.md?p=4) to whom the request is issued.
    - (C) **Notice—** Any recipient that discloses to a [person](/usc/12/3401.md?p=4) described in [subparagraph (A)](#c-2-A) information otherwise subject to a nondisclosure requirement shall inform the [person](/usc/12/3401.md?p=4) of the applicable nondisclosure requirement.
    - (D) **Identification of disclosure recipients—** At the request of the [Director](/usc/12/2279bb.md?p=3) of the Federal [Bureau](/usc/12/5481.md?p=2) of Investigation or the designee of the [Director](/usc/12/2279bb.md?p=3), [any person](/usc/12/1715z–4a.md?p=a-2) making or intending to make a disclosure under clause [(i)](#c-2-A-i) or [(iii)](#c-2-A-iii) of subparagraph (A) shall identify to the [Director](/usc/12/2279bb.md?p=3) or such designee the [person](/usc/12/3401.md?p=4) to whom such disclosure will be made or to whom such disclosure was made prior to the request.
- (d) **Judicial review—**
  - (1) **In general—** A request under [subsection (a)](#a) or a nondisclosure requirement imposed in connection with such request under [subsection (c)](#c) shall be subject to judicial review under [section 3511 of title 18](/usc/18/3511.md).
  - (2) **Notice—** A request under [subsection (a)](#a) shall include notice of the availability of judicial review described in [paragraph (1)](#d-1).
- (e) **Definition of “financial institution”—** For purposes of this section, and sections [3415](/usc/12/3415.md) and [3417](/usc/12/3417.md) of this title insofar as they relate to the operation of this section, the term “[financial institution](/usc/12/1715k.md?p=h-1-C)” has the same meaning as in subsections (a)(2) and (c)(1) of [section 5312 of title 31](/usc/31/5312.md), except that, for purposes of this section, such term shall include only such a [financial institution](/usc/12/1715k.md?p=h-1-C) any part of which is located inside any [State](/usc/12/1707.md?p=d) or territory of the United States, the District of Columbia, Puerto Rico, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, or the United States Virgin Islands.

# §3415. Cost reimbursement


Except for records obtained pursuant to section [3403(d)](/usc/12/3403.md?p=d) or [3413(a) through (h)](/usc/12/3413.md?p=a..h) of this title, or as otherwise provided by law, a [Government authority](/usc/12/3401.md?p=3) shall pay to the [financial institution](/usc/12/1715k.md?p=h-1-C) assembling or providing [financial records](/usc/12/3401.md?p=2) pertaining to a [customer](/usc/12/3401.md?p=5) and in accordance with procedures established by this chapter a fee for reimbursement for such costs as are reasonably necessary and which have been directly incurred in searching for, reproducing, or transporting books, papers, records, or other data required or requested to be produced. The [Board](/usc/12/221a.md?p=a) of Governors of the Federal Reserve System shall, by regulation, establish the rates and conditions under which such payment may be made.


# §3416. Jurisdiction


An action to enforce any provision of this chapter may be brought in any appropriate United States [district](/usc/12/221a.md?p=a) court without regard to the amount in controversy within three years from the date on which the violation occurs or the date of discovery of such violation, whichever is later.


# §3417. Civil penalties

- (a) **Liability of agencies or departments of United States or financial institutions—** Any [agency](/usc/12/1422.md?p=12) or department of the United States or [financial institution](/usc/12/1715k.md?p=h-1-C) obtaining or disclosing [financial records](/usc/12/3401.md?p=2) or information contained therein in violation of this chapter is liable to the [customer](/usc/12/3401.md?p=5) to whom such records relate in an amount equal to the sum of—
  - (1) $100 without regard to the volume of records involved;
  - (2) any actual damages sustained by the [customer](/usc/12/3401.md?p=5) as a result of the disclosure;
  - (3) such punitive damages as the court may allow, where the violation is found to have been willful or intentional; and
  - (4) in the case of any successful action to enforce liability under this section, the costs of the action together with reasonable attorney’s fees as determined by the court.
- (b) **Disciplinary action for willful or intentional violation of chapter by agents or employees of department or agency—** Whenever the court determines that any [agency](/usc/12/1422.md?p=12) or department of the United States has violated any provision of this chapter and the court finds that the circumstances surrounding the violation raise questions of whether an officer or employee of the department or [agency](/usc/12/1422.md?p=12) acted willfully or intentionally with respect to the violation, the [Director](/usc/12/2279bb.md?p=3) of the [Office](/usc/12/2279bb.md?p=4) of Personnel Management shall promptly initiate a proceeding to determine whether disciplinary action is warranted against the agent or employee who was primarily responsible for the violation. The [Director](/usc/12/2279bb.md?p=3) after investigation and consideration of the evidence submitted, shall submit his findings and recommendations to the administrative authority of the [agency](/usc/12/1422.md?p=12) concerned and shall send copies of the findings and recommendations to the officer or employee or his representative. The administrative authority shall take the corrective action that the [Director](/usc/12/2279bb.md?p=3) recommends.
- (c) **Good faith defense—** Any [financial institution](/usc/12/1715k.md?p=h-1-C) or agent or employee thereof making a disclosure of [financial records](/usc/12/3401.md?p=2) pursuant to this chapter in good-faith reliance upon a certificate by any [Government authority](/usc/12/3401.md?p=3) or pursuant to the provisions of [section 3413(l)](/usc/12/3413.md?p=l) of this title shall not be liable to the [customer](/usc/12/3401.md?p=5) for such disclosure under this chapter, the constitution of any [State](/usc/12/1707.md?p=d), or any law or regulation of any [State](/usc/12/1707.md?p=d) or any political subdivision of any [State](/usc/12/1707.md?p=d).
- (d) **Exclusive judicial remedies and sanctions—** The remedies and sanctions described in this chapter shall be the only authorized judicial remedies and sanctions for violations of this chapter.

# §3418. Injunctive relief


In addition to any other remedy contained in this chapter, injunctive relief shall be available to require that the procedures of this chapter are complied with. In the event of any successful action, costs together with reasonable attorney’s fees as determined by the court may be recovered.


# §3419. Suspension of limitations


If any individual files a motion or application under this chapter which has the effect of delaying the access of a [Government authority](/usc/12/3401.md?p=3) to [financial records](/usc/12/3401.md?p=2) pertaining to such individual, any applicable statute of limitations shall be deemed to be tolled for the period extending from the date such motion or application was filed until the date upon which the motion or application is decided.


# §3420. Grand jury information; notification of certain persons prohibited

- (a) [Financial records](/usc/12/3401.md?p=2) about a [customer](/usc/12/3401.md?p=5) obtained from a [financial institution](/usc/12/1715k.md?p=h-1-C) pursuant to a subpena issued under the authority of a Federal grand jury—
  - (1) shall be returned and actually presented to the grand jury unless the volume of such records makes such return and actual presentation impractical in which case the grand jury shall be provided with a description of the contents of the records.;[^1]
  - (2) shall be used only for the purpose of considering whether to issue an indictment or presentment by that grand jury, or of prosecuting a crime for which that indictment or presentment is issued, or for a purpose authorized by [rule 6(e)](/usc/18a/crim-6.md?p=e) of the Federal Rules of Criminal Procedure, or for a purpose authorized by [section 3412(a) of this title](/usc/12/3412.md?p=a);
  - (3) shall be destroyed or returned to the [financial institution](/usc/12/1715k.md?p=h-1-C) if not used for one of the purposes specified in [paragraph (2)](#a-2); and
  - (4) shall not be maintained, or a description of the contents of such records shall not be maintained by any [Government authority](/usc/12/3401.md?p=3) other than in the sealed records of the grand jury, unless such record has been used in the prosecution of a crime for which the grand jury issued an indictment or presentment or for a purpose authorized by [rule 6(e)](/usc/18a/crim-6.md?p=e) of the Federal Rules of Criminal Procedure.
- (b)
  - (1) No officer, [director](/usc/12/2279bb.md?p=3), partner, employee, or shareholder of, or agent or attorney for, a [financial institution](/usc/12/1715k.md?p=h-1-C) shall, directly or indirectly, notify [any person](/usc/12/1715z–4a.md?p=a-2) named in a grand jury subpoena served on such institution in connection with an investigation relating to a possible—
    - (A) crime against any [financial institution](/usc/12/1715k.md?p=h-1-C) or [supervisory agency](/usc/12/3401.md?p=7) or crime involving a violation of the Controlled Substance Act [[21 U.S.C. 801](/usc/21/801.md) et seq.], the Controlled Substances Import and Export Act [[21 U.S.C. 951](/usc/21/951.md) et seq.], section [1956](/usc/18/1956.md), [1957](/usc/18/1957.md), or [1960](/usc/18/1960.md) of title 18, sections [5313](/usc/31/5313.md), [5316](/usc/31/5316.md), [5322](/usc/31/5322.md), [5324](/usc/31/5324.md), [5331](/usc/31/5331.md), and [5332](/usc/31/5332.md) of title 31, or [section 6050I of title 26](/usc/26/6050I.md); or
    - (B) conspiracy to commit such a crime,

    about the existence or contents of such subpoena, or information that has been furnished to the grand jury in response to such subpoena.

  - (2) [Section 1818 of this title](/usc/12/1818.md) and [section 1786(k)(2) of this title](/usc/12/1786.md?p=k-2) shall apply to any violation of this subsection.

# [§3421. Repealed. Pub. L. 104–66, title III, § 3001(d), Dec. 21, 1995, 109 Stat. 734 — repealed]



# §3422. Applicability to Securities and Exchange Commission


Except as provided in the Securities Exchange Act of 1934 [[15 U.S.C. 78a](/usc/15/78a.md) et seq.], this chapter shall apply with respect to the Securities and Exchange Commission.