Right to Financial Privacy Act (1978)

The Right to Financial Privacy Act was designed to protect the confidentiality of personal financial records by creating a statutory Fourth Amendment protection for bank records. The Right to Financial Privacy Act states that "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. the customer authorizes access;
2. there is an appropriate administrative subpoena or summons;
3. there is a qualified search warrant;
4. there is an appropriate judicial subpoena; or
5. there is an appropriate written request from an authorized government authority.

The statute prevents banks from requiring customers to authorize the release of financial records as a condition of doing business and states that customers have a right to access a record of all disclosures.