Full text of District Notices (Federal Reserve Bank of Dallas) : Right to Financial Privacy Act of 1978, Circular No. 79-36

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F e d e r a l R e s e r v e Ba n k
DALLAS. TEXAS

of

Dallas

75222
C irc u la r No. 79-36
M arch 1, 1979

RIG HT TO FINA NCIAL PRfVACY A C T OF 1978
Statement of Financial P riv a c y Rights

TO A L L BANKS, OTHER CR ED ITO RS,
AND OTHERS CONCERNED IN THE
ELEVENTH FEDERAL RESERVE D IS T R IC T :
For you r inform ation, the Congress has repealed the requirem ent in
the "R ig h t to Financial P riv a c y A ct of 1978" (T itle XI of the Financial Institutions
R egulatory and In te re st Rate Control Act of 1978) that a ll financial institutions
notify th e ir custom ers of th e ir rig h ts u n d er the A ct p rom ptly a fte r March 10, 1979.
T h e repeal b ill, S . 37, passed the Senate on F e b ru a ry 9 and the House
of Representatives on F e b ru a ry 27. Although the b ill is not yet sig n ed , it is e x ­
pected that the President w ill sign the b ill into law . T h e b ill repeals Section 1104(D)
of the Act w hich imposed the notification requirem ent and assigned to the Board of
G overnors of the Federal Reserve System the re s p o n s ib ility of d ra ftin g the state­
ment of customers' rig h ts .
Questions on the Financial P rivacy A ct may be addressed to our Con­
sumer A ffa irs Section, E x t. 6171.
S in ce re ly y o u rs ,
E rnest T . Baughman
President

Banks and others are encouraged to use the follow ing incoming W A T S numbers in contacting this Bank:
1-8 0 0 -4 9 2 -4 4 0 3 (intrastate) and 1-8 0 0 -5 2 7 -4 9 7 0 (interstate). For calls placed locally, please use 651 plus
the extention referred to above.

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)