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Can you summarize MTCO 32-6-105?
General Provisions > Protection of privacy
Short Summary
This provision, part of the Montana Code under the Electronic Funds Transfer Act, governs the disclosure of information related to electronic funds transfer transactions between a financial institution and its customers or prospective customers. It prohibits financial institutions from disclosing such information to any person or government entity without the consent of the customer or a court-issued subpoena. Compliance with a subpoena relieves the financial institution and its employees from liability for such disclosure. However, this provision does not prevent the examination of financial institutions by regulatory authorities or the transfer of information between financial institutions through a clearinghouse. Additionally, parties involved in a specific transaction have access to information related to that transaction. No specific penalties are mentioned in this provision.
Whom does it apply to?
Financial institutions and their customers or prospective customers
What does it govern?
Disclosure of information relating to electronic funds transfer transactions between a financial institution and its customer or prospective customer
What are exemptions?
Examination of financial institutions by regulatory authority, transfer of information by a financial institution to a clearinghouse, access by a party to a transaction to information relating to a specific transaction
What are the Penalties?
No specific penalties mentioned
Jurisdiction
Montana