Collapse to view only § 6823. Criminal penalty
- § 6821. Privacy protection for customer information of financial institutions
- § 6822. Administrative enforcement
- § 6823. Criminal penalty
- § 6824. Relation to State laws
- § 6825. Agency guidance
- § 6826. Reports
- § 6827. Definitions
§ 6821. Privacy protection for customer information of financial institutions
(a) Prohibition on obtaining customer information by false pretenses
It shall be a violation of this subchapter for any person to obtain or attempt to obtain, or cause to be disclosed or attempt to cause to be disclosed to any person, customer information of a financial institution relating to another person—
(1) by making a false, fictitious, or fraudulent statement or representation to an officer, employee, or agent of a financial institution;
(2) by making a false, fictitious, or fraudulent statement or representation to a customer of a financial institution; or
(3) by providing any document to an officer, employee, or agent of a financial institution, knowing that the document is forged, counterfeit, lost, or stolen, was fraudulently obtained, or contains a false, fictitious, or fraudulent statement or representation.
(b) Prohibition on solicitation of a person to obtain customer information from financial institution under false pretenses
(c) Nonapplicability to law enforcement agencies
(d) Nonapplicability to financial institutions in certain cases
No provision of this section shall be construed so as to prevent any financial institution, or any officer, employee, or agent of a financial institution, from obtaining customer information of such financial institution in the course of—
(1) testing the security procedures or systems of such institution for maintaining the confidentiality of customer information;
(2) investigating allegations of misconduct or negligence on the part of any officer, employee, or agent of the financial institution; or
(3) recovering customer information of the financial institution which was obtained or received by another person in any manner described in subsection (a) or (b).
(e) Nonapplicability to insurance institutions for investigation of insurance fraud
(f) Nonapplicability to certain types of customer information of financial institutions
(g) Nonapplicability to collection of child support judgments
(Pub. L. 106–102, title V, § 521, Nov. 12, 1999, 113 Stat. 1446.)
§ 6822. Administrative enforcement
(a) Enforcement by Federal Trade Commission
(b) Enforcement by other agencies in certain cases
(1) In generalCompliance with this subchapter shall be enforced under—
(A) section 8 of the Federal Deposit Insurance Act [12 U.S.C. 1818], in the case of—
(i) national banks, and Federal branches and Federal agencies of foreign banks, by the Office of the Comptroller of the Currency;
(ii) member banks of the Federal Reserve System (other than national banks), branches and agencies of foreign banks (other than Federal branches, Federal agencies, and insured State branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act [12 U.S.C. 601 et seq., 611 et seq.], by the Board;
(iii) banks insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System and national nonmember banks) and insured State branches of foreign banks, by the Board of Directors of the Federal Deposit Insurance Corporation; and
(iv) savings associations the deposits of which are insured by the Federal Deposit Insurance Corporation, by the Director of the Office of Thrift Supervision; and
(B) the Federal Credit Union Act [12 U.S.C. 1751 et seq.], by the Administrator of the National Credit Union Administration with respect to any Federal credit union.
(2) Violations of this subchapter treated as violations of other laws
(Pub. L. 106–102, title V, § 522, Nov. 12, 1999, 113 Stat. 1447.)
§ 6823. Criminal penalty
(a) In general
(b) Enhanced penalty for aggravated cases
(Pub. L. 106–102, title V, § 523, Nov. 12, 1999, 113 Stat. 1448.)
§ 6824. Relation to State laws
(a) In general
(b) Greater protection under State law
(Pub. L. 106–102, title V, § 524, Nov. 12, 1999, 113 Stat. 1448.)
§ 6825. Agency guidance
In furtherance of the objectives of this subchapter, each Federal banking agency (as defined in section 1813(z) of title 12), the National Credit Union Administration, and the Securities and Exchange Commission or self-regulatory organizations, as appropriate, shall review regulations and guidelines applicable to financial institutions under their respective jurisdictions and shall prescribe such revisions to such regulations and guidelines as may be necessary to ensure that such financial institutions have policies, procedures, and controls in place to prevent the unauthorized disclosure of customer financial information and to deter and detect activities proscribed under section 6821 of this title.
(Pub. L. 106–102, title V, § 525, Nov. 12, 1999, 113 Stat. 1448.)
§ 6826. Reports
(a) Report to the Congress
Before the end of the 18-month period beginning on November 12, 1999, the Comptroller General, in consultation with the Federal Trade Commission, Federal banking agencies, the National Credit Union Administration, the Securities and Exchange Commission, appropriate Federal law enforcement agencies, and appropriate State insurance regulators, shall submit to the Congress a report on the following:
(1) The efficacy and adequacy of the remedies provided in this subchapter in addressing attempts to obtain financial information by fraudulent means or by false pretenses.
(2) Any recommendations for additional legislative or regulatory action to address threats to the privacy of financial information created by attempts to obtain information by fraudulent means or false pretenses.
(b) Annual report by administering agencies
(Pub. L. 106–102, title V, § 526, Nov. 12, 1999, 113 Stat. 1448.)
§ 6827. Definitions
For purposes of this subchapter, the following definitions shall apply:
(1) Customer
(2) Customer information of a financial institution
(3) Document
(4) Financial institution
(A) In general
(B) Certain financial institutions specifically included
(C) Securities institutions
For purposes of subparagraph (B)—
(i) the terms “broker” and “dealer” have the same meanings as given in section 78c of this title;
(ii) the term “investment adviser” has the same meaning as given in section 80b–2(a)(11) of this title; and
(iii) the term “investment company” has the same meaning as given in section 80a–3 of this title.
(D) Certain persons and entities specifically excluded
(E) Further definition by regulation
(Pub. L. 106–102, title V, § 527, Nov. 12, 1999, 113 Stat. 1449.)