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Can you summarize FLCL 655.059?
FINANCIAL INSTITUTIONS GENERALLY > Access to books and records; confidentiality; penalty for disclosure.
Short Summary
This legal document governs the access to books and records, confidentiality, and penalties for disclosure in the context of financial institutions. The books and records of a financial institution are confidential and can only be inspected and examined by authorized entities such as the office, federal or state instrumentality or agency, or the home-country supervisor of an international banking corporation or international trust entity. However, certain books and records pertaining to customer deposit, investment, custodial, and trust accounts are not disclosed to the home-country supervisor. The financial institution may also disclose books and records as compelled by a court, legislative subpoena, or law enforcement or prosecutorial instrumentality authorized to investigate suspected criminal activity. Depositors, borrowers, members, or stockholders have the right to inspect books and records pertaining to their loans or accounts. The financial institution must keep trust accounts and the deposit accounts and loans of account holders confidential, except with express authorization or for specific purposes such as meeting the needs of commerce and ensuring accurate credit information. Any unlawful disclosure of confidential information is a felony punishable by law.
Whom does it apply to?
Financial institutions
What does it govern?
Access to books and records; confidentiality; penalty for disclosure
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
A person who willfully violates the provisions of this section that relate to unlawful disclosure of confidential information is guilty of a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084.
Jurisdiction
Florida