What is the Right to Financial Privacy Act?

The Right to Financial Privacy Act is a federal law that was enacted in 1978. This law is intended to protect the right of individuals to keep their financial information private. The Act provides customers of financial institutions with certain rights when it comes to their financial information, including the right to be notified when their financial records are sought by a governmental agency, the right to a copy of the records requested, and the right to object to the disclosure of records when they deem it appropriate. In Nebraska, this law applies to all financial institutions, including banks, credit unions, savings and loan associations, and other depository institutions. The Right to Financial Privacy Act helps ensure that Nebraska individuals can keep their financial information private, and know when and how their financial records are being accessed. It also provides individuals with the ability to review their records and to challenge the release of information when they feel it is inappropriate. The Act also prohibits financial institutions from disclosing information to third parties without the customer’s consent, and requires financial institutions to notify customers of their right to privacy when it comes to obtaining their financial records.

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What is the Right to Financial Privacy Act?

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