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Financial Institution Subpoena Compliance

The Financial Institution Subpoena Compliance Team at Hodgson Russ can provide you with customized solutions to help limit your company’s exposure to risk when responding to requests for information from government entities and other third parties.

Our attorneys can provide varying levels of support, from fully-outsourced solutions to customized assistance.

Risks of Non-Compliance

  • Violation of customer privacy statutes or contractual protections
  • Obstruction of justice
  • Penalties for improper production
  • Penalties for breach of confidentiality
  • Failure to recognize a litigation hold obligation trigger
  • Damages to public reputation

Manage Demand Complexity  

The volume and sensitivity of document production can vary dramatically. This makes internal staffing and timely responsiveness a challenge. In addition, responding to subpoenas and other legal processes is an expense that is outside the bank’s core functions. Our attorneys can provide cost-effective and sophisticated assistance throughout the process.

Requestors

  • IRS
  • State and local taxation authorities
  • DOJ
  • FBI
  • Local law enforcement
  • Grand juries
  • CFPB
  • Private litigants and divorce petitioners

Requested Forms

  • Grand jury subpoenas
  • Search warrants
  • Subpoenas requesting documents
  • Subpoenas requesting testimony
  • Court orders
  • National Security Letters
  • Restraining notices
  • Foreign exchange of information requests
  • Out-of-jurisdiction subpoenas

Special Challenges

Information custodians may be unaware of the risks or obligations that arise when faced with a subpoena. Bank personnel may also be reluctant to question law enforcement and may erroneously disclose protected information upon request. Our attorneys are knowledgeable about the sources of data and systems utilized by many financial institutions, as well as the limitations and requirements which apply to government entities’ requests for information.

Sources of Responsive Information:

  • Core banking systems
  • Customer management systems
  • BSA/AML compliance systems
  • Enterprise risk reporting, tracking and evaluation programs
  • GRC (Governance Risk and Compliance) systems
  • Internal audit records
  • Records management systems
  • Emails, IMs, voice messages
  • Internal databases
  • Hard copy files (including those in storage)

Our Services

Financial institutions come in all shapes and sizes, and any of the following services can be tailored to your needs:

  • Streamlined compliance related procedures and reporting
  • Advice on information/data management and security
  • Identification and navigation of regulatory risks
  • Mapping out communication and workflow protocols

Further, our team can also assist with managing subpoena production procedures:

  • Review and respond to subpoenas
  • Track deadlines
  • Review, redact and produce documents
  • Prepare certifications
  • Communicate with requesting sources
  • Prepare witnesses for testimony