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Financial Services Law Insights and Observations

California governor signs amendments requiring the furnishing of customer account information associated with certain crime reports

State Issues State Legislation Privacy/Cyber Risk & Data Security

State Issues

On September 6, the governor of California signed amendments to the California Right to Financial Privacy Act to provide various state and local agencies—including the police, sheriff’s department, or district attorney in the state—the authorization to request information from financial institutions in certain circumstances associated with crime reports involving the alleged fraudulent use of drafts, checks, access cards, or other orders. Specifically, AB 3229 states that banks, credit unions, and savings associations must furnish a statement with the requested customer account information for a period of 30 days prior, and up to 30 days following, the date of the alleged illegal act’s occurrence. AB 3229 further states that financial institutions will be required to furnish account information—subject to the outlined procedures—to a DOJ special agent upon request.

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