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12 U.S.C. § 3402 — Access to financial records by Government authorities prohibited; exceptions

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 3402 — Access to financial records by Government authorities prohibited; exceptions

Except as provided by section 3403(c) or (d), 3413, or 3414 of this title, no Government authority may have access to or obtain copies of, or the information contained in the financial records of any customer from a financial institution unless the financial records are reasonably described and— (1) such customer has authorized such disclosure in accordance with [section 3404 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3404&num=0&edition=prelim); (2) such financial records are disclosed in response to an administrative subpena or summons which meets the requirements of [section 3405 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3405&num=0&edition=prelim); (3) such financial records are disclosed in response to a search warrant which meets the requirements of [section 3406 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3406&num=0&edition=prelim); (4) such financial records are disclosed in response to a judicial subpena which meets the requirements of [section 3407 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3407&num=0&edition=prelim); or (5) such financial records are disclosed in response to a formal written request which meets the requirements of [section 3408 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3408&num=0&edition=prelim).

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Stable record: federal_law:legal_authorities:record_usc_287eae79840c8d031137cffd
Source file: Laws/federal/codes/united-states-code/title-12/section-3402-access-to-financial-records-by-government-authorities-prohibited-excepti--b80f7017e2.md
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Source location: Title 12, Chapter 35, § 3402; chapter-035-right-to-financial-privacy.md

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 3408 — Formal written request

A Government authority may request financial records under [section 3402(5) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3402/5&num=0&edition=prelim) pursuant to a formal written request only if— (1) no administrative summons or subpena authority reasonably appears to be available to that Government authority to obtain financial records for the purpose for which such records are sought; (2) the request is authorized by regulations promulgated by the head of the agency or department; (3) there is reason to believe that the records sought are relevant to a legitimate law enforcement inquiry; and (4) (A) a copy of the request has been served upon the customer or mailed to his last known address on or before the date on which the request was made to 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 request are being sought by this (agency or department) in accordance with the Right to Financial Privacy Act of 1978 [[12 U.S.C. 3401](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3401&num=0&edition=prelim) 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

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 3407 — Judicial subpena

A Government authority may obtain financial records under [section 3402(4) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3402/4&num=0&edition=prelim) 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; (2) a copy of the subpena has been served upon the customer or mailed to his last known address on or before the date on which the subpena 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 which are held by the financial institution named in the attached subpena are being sought by this (agency or department or authority) in accordance with the Right to Financial Privacy Act of 1978 [[12 U.S.C. 3401](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3401&num=0&edition=prelim) 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 the Court. “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 c

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 3407

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 3405 — Administrative subpena and summons

A Government authority may obtain financial records under [section 3402(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3402/2&num=0&edition=prelim) 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3401&num=0&edition=prelim) 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

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 3405

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 3404 — Customer authorizations

**(a) Statement furnished by customer to financial institution and Government authority; contents** A customer may authorize disclosure under [section 3402(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3402/1&num=0&edition=prelim) if he furnishes to the financial institution and to the Government authority 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 that the customer may revoke such authorization at any time before the financial records are disclosed; (3) identifies the financial records which are authorized to be disclosed; (4) specifies the purposes for which, and the Government authority to which, such records may be disclosed; and (5) states the customer’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. **(c) Right of customer to access to financial institution’s record of disclosures** The customer has the right, unless the Government authority obtains a court order as provided in [section 3409 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3409&num=0&edition=prelim), to obtain a copy of the record which the financial institution shall keep of all instances in which the customer’s record is disclosed to a Government authority pursuant to this section, including the identity of the Government authority to which such disclosure is made.

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 3404

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 3406 — Search warrants

**(a) Applicability of Federal Rules of Criminal Procedure** A Government authority may obtain financial records under [section 3402(3) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3402/3&num=0&edition=prelim) 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 serves the search warrant, it shall mail to the customer’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 named in the attached search warrant were obtained by this (agency 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3401&num=0&edition=prelim) et seq.].”. **(c) Court-ordered delays in mailing** Upon application of the Government authority, a court may grant a delay in the mailing of the notice required in subsection (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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3409/a&num=0&edition=prelim). If the court so finds, it shall enter an ex parte order granting the requested delay and an order prohibiting the financial institution 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 accordan

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 3406

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 375b — Extensions of credit to executive officers, directors, and principal shareholders of member banks

(1) **In general** — No member bank may extend credit to any of its executive officers, directors, or principal shareholders, or to any related interest of such a person, except to the extent permitted under paragraphs (2), (3), (4), (5), and (6). (2) **Preferential terms prohibited** (A) *In general* — A member bank may extend credit to its executive officers, directors, or principal shareholders, or to any related interest of such a person, only if the extension of credit— (i) is made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions by the bank with persons who are not executive officers, directors, principal shareholders, or employees of the bank; (ii) does not involve more than the normal risk of repayment or present other unfavorable features; and (iii) the bank follows credit underwriting procedures that are not less stringent than those applicable to comparable transactions by the bank with persons who are not executive officers, directors, principal shareholders, or employees of the bank. (B) *Exception* — Nothing in this paragraph shall prohibit any extension of credit made pursuant to a benefit or compensation program— (i) that is widely available to employees of the member bank; and (ii) that does not give preference to any officer, director, or principal shareholder of the member bank, or to any related interest of such person, over other employees of the member bank. (3) **Prior approval required** — A member bank may extend credit to a person described in paragraph (1) in an amount that, when aggregated with the amount of all other outstanding extensions of credit by that bank to each such person and that person’s related interests, would e

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 375b

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 3413 — Exceptions

**(a) Disclosure of financial records not identified with particular customers** Nothing in this chapter prohibits the disclosure of any financial records or information which is not identified with or identifiable as being derived from the financial records of a particular customer. **(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 of financial records or information in the exercise of its supervisory, regulatory, or monetary functions, including conservatorship or receivership functions, with respect to any financial institution, holding company, subsidiary of a financial institution or holding company, institution-affiliated party (within the meaning of [section 1813(u) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813/u&num=0&edition=prelim)) with respect to a financial institution, holding company, or subsidiary, or other person participating in the conduct of the affairs thereof. **(c) Disclosure pursuant to title 26** Nothing in this chapter prohibits the disclosure of financial records in accordance with procedures authorized by title 26. **(d) Disclosure pursuant to Federal statute or rule promulgated thereunder** Nothing in this chapter shall authorize the withholding of financial records 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

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 3413

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 1383b — Procedure for payment of benefits

**(a) Time, manner, form, and duration of payments; representative payees; promulgation of regulations** (1) Benefits under this subchapter shall be paid at such time or times and (subject to paragraph (10)) in such installments as will best effectuate the purposes of this subchapter, as determined under regulations (and may in any case be paid less frequently than monthly where the amount of the monthly benefit would not exceed $10). (2) (A) (i) Payments of the benefit of any individual may be made to any such individual or to the eligible spouse (if any) of such individual or partly to each. (ii) (I) Upon a determination by the Commissioner of Social Security that the interest of such individual would be served thereby, such payments shall be made, regardless of the legal competency or incompetency of the individual or eligible spouse, to another individual, or an organization, with respect to whom the requirements of subparagraph (B) have been met (in this paragraph referred to as such individual’s “representative payee”) for the use and benefit of the individual or eligible spouse. (II) In the case of an individual eligible for benefits under this subchapter by reason of disability, the payment of such benefits shall be made to a representative payee if the Commissioner of Social Security determines that such payment would serve the interest of the individual because the individual also has an alcoholism or drug addiction condition (as determined by the Commissioner) and the individual is incapable of managing such benefits. (iii) If the Commissioner of Social Security or a court of competent jurisdiction determines that the representative payee of an individual or eligible spouse has misused any benefits which have been paid to the

Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 1383b

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 1396w — Asset verification through access to information held by financial institutions

**(a) Implementation** (1) **In general** — Subject to the provisions of this section, each State shall implement an asset verification program described in subsection (b), for purposes of determining or redetermining the eligibility of an individual for medical assistance under the State plan under this subchapter. (2) **Plan submittal** — In order to meet the requirement of paragraph (1), each State shall— (A) submit not later than a deadline specified by the Secretary consistent with paragraph (3), a State plan amendment under this subchapter that describes how the State intends to implement the asset verification program; and (B) provide for implementation of such program for eligibility determinations and redeterminations made on or after 6 months after the deadline established for submittal of such plan amendment. (3) **Phase-in** (A) *In general* (i) *Implementation in current asset verification demo States* — The Secretary shall require those States specified in subparagraph (C) (to which an asset verification program has been applied before June 30, 2008) to implement an asset verification program under this subsection by the end of fiscal year 2009. (ii) *Implementation in other States* — The Secretary shall require other States to submit and implement an asset verification program under this subsection in such manner as is designed to result in the application of such programs, in the aggregate for all such other States, to enrollment of approximately, but not less than, the following percentage of enrollees, in the aggregate for all such other States, by the end of the fiscal year involved: (I) 12.5 percent by the end of fiscal year 2009. (II) 25 percent by the end of fiscal year 2010. (III) 50 percent by the end of

Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 1396w

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 1437aa to 1437ee — Eligibility for assisted housing

**(a) Income eligibility for public housing** (1) **Income mix within projects** — A public housing agency may establish and utilize income-mix criteria for the selection of residents for dwelling units in public housing projects, subject to the requirements of this section. (2) **PHA income mix** (A) *11 So in original. No subpar. (B) has been enacted. Targeting.—* — Except as provided in paragraph (4), of the public housing dwelling units of a public housing agency made available for occupancy in any fiscal year by eligible families, not less than 40 percent shall be occupied by extremely low-income families. (3) **Prohibition of concentration of low-income families** (A) *Prohibition* — A public housing agency may not, in complying with the requirements under paragraph (2), concentrate very low-income families (or other families with relatively low incomes) in public housing dwelling units in certain public housing projects or certain buildings within projects. The Secretary shall review the income and occupancy characteristics of the public housing projects and the buildings of such projects of such agencies to ensure compliance with the provisions of this paragraph and paragraph (2). (B) *Deconcentration* (i) *In general* — A public housing agency shall submit with its annual public housing agency plan under [section 1437c–1 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1437c-1&num=0&edition=prelim) an admissions policy designed to provide for deconcentration of poverty and income-mixing by bringing higher income tenants into lower income projects and lower income tenants into higher income projects. This clause may not be construed to impose or require any specific income or racial quotas for any projec

Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 1437aa to 1437ee

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