Existing law, the California Right to Financial Privacy Act, generally provides for the confidentiality of, and restricts access to, the financial records of people who transact business with, or use the services of, financial institutions or for whom a financial institution has acted as a fiduciary. Existing law establishes an exception by authorizing various state and local agencies, when certification is made to a bank, credit union, or savings association by specified law enforcement entities that a crime report has been filed that involves the alleged fraudulent use of orders drawn upon a bank, credit union, or savings association in this state, to request from such a bank, credit union, or savings association, and requires the bank, credit union, or savings association to furnish, a statement setting forth certain information with respect to a customer account specified by the requesting party, for a period of 30 days before, and up to 30 days following, the date of occurrence of the alleged illegal act involving the account.
This bill would expand the period covered by that statement of information to a period 90 days before, and up to 60 days following, the date of occurrence. The bill would require specified additional items of information to be included in the statement about the account.
Stephanie Nguyen
Journalists backed by artificial intelligence bringing transparency and accountability to California’s policy choices.
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