Covers procedures that federal government authorities follow to obtain information from a bank about a customer’s financial records and the customer’s rights concerning those records. Explains compliance with the RFPA, and how banks must be prepared to respond to the government’s request for records and the penalties for noncompliance.
After completing this course, students will be able to:
• Define the purpose, coverage, and requirements of the RFPA
• Describe the different types of financial information requests and procedures for each type
• Identify and explain procedure exceptions to the RFPA and when they are necessary
• Describe the impact on your financial institution regarding recordkeeping and compliance