Certificate of Compliance Guidance Needed

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Question:

I’m an operations specialist and I was reading the article <a href="http://www.bankersonline.com/compliance/mbg_banktrapped.html">"Bank Trapped in RFPA Violation Through Army Subpoena"</a>. We were then going through our own privacy policy and realized that we did not know what a certificate of compliance looked like or what is needed to be included in it to cover the bank legally. Who in a government agency is allowed to sign off on the certificate of compliance? I was hoping you might be able to tell me what all is in the certificate or be able to point me to an example of what one might look like.

Answer:

Answer by Kathleen Blanchard: Here is a link to the Department of Justice certificate of compliance for subpoenas to financial institutions.

Answer:

Answer by Mary Beth Guard: You are very wise to take the certificate of compliance seriously. It is an important protection from liability. We also have a Certificate of Compliance form on the BOL Forms page. You can download it in either PDF or Word doc format from there. Just scroll down on the page to the "Right to Financial Privacy Act" category of forms to find both versions. You'll also find an RFPA-compliant customer authorization form.

First published on BankersOnline.com 1/21/08