RIGHT TO FINANCIAL PRIVACY ACT — CUSTOMER NOTICE
Ava Finance, Inc.
Your Financial Privacy Rights
Ava Finance, Inc. (“Ava”, “we”, “our”) is committed to protecting the confidentiality of your financial records. Under the Right to Financial Privacy Act of 1978 (the “RFPA”), federal government agencies cannot access your financial records unless they reasonably describe the financial record that is being requested and they follow one of these legally required procedures in the manner set forth in the RFPA:
- Customer Authorization — you provide signed, written consent for access;
- Administrative Subpoena or Summons — issued and relevant to a legitimate law enforcement inquiry;
- Search Warrant — issued under the Federal Rules of Criminal Procedure;
- Judicial Subpoena — issued in connection with a grand jury or court proceeding; or
- Formal Written Request — meeting specific statutory requirements when no subpoena authority exists.
What This Means for You
- Right to Notice. In most cases, the federal government is required to send you advance written notice before your records are disclosed.
- Right to Challenge. In certain cases, you may file a motion to quash in federal court within 10 days of service (or 14 days from mailing) of a government request.
- Right to Legal Action. If your records are obtained in violation of the RFPA, you may bring a civil action for penalties, actual damages, punitive damages, and attorney’s fees, in certain cases.
Our Commitment
Ava Finance, Inc. will verify that federal government requests regulated under the RFPA substantially comply with the RFPA requirements. Ava will consider a federal government’s responsibilities under the RFPA satisfied if it certifies in writing that it has complied with the applicable provisions of the RFPA.
Scope & Exceptions
This notice applies to individual customers and small partnerships (five or fewer partners). The RFPA does not extend protections to corporations, large partnerships, or other non-individual entities.
Please note that the RFPA applies only to requests from federal government agencies. Requests from state or local government agencies may be governed by separate state privacy laws.
In general, exceptions to the notice and certification requirements cover situations pertinent to routine banking business, information requested by supervisory agencies, and requests subject to other statutory requirements. Specific exceptions include consumer financial records:
- Submitted by financial institutions to any court or agency when perfecting a security interest, proving a claim in bankruptcy, or collecting a debt for itself or a fiduciary
- Requested by a supervisory agency in connection with its supervisory, regulatory, or monetary functions (including regular examinations and any investigations relating to consumer complaints)
- Sought in accordance with procedures authorized by the Internal Revenue Code (records that are intended to be accessed by procedures authorized by the Tax Reform Act of 1976)
- Required to be reported in accordance with any federal statute (or rule promulgated thereunder, such as the Bank Secrecy Act)
- Requested by the Government Accountability Office for an authorized proceeding, investigation, examination, or audit directed at a federal agency
- Subject to a subpoena issued in conjunction with proceedings before a grand jury (with the exception of cost reimbursement and the restricted use of grand jury information)
- Requested by a government authority subject to a lawsuit involving the bank customer (The records may be obtained under the Federal Rules of Civil and Criminal Procedure.)
The RFPA also allows financial institutions to
- Release records that are not individually identifiable with a particular customer
- Notify law enforcement officials if it has information relevant to a violation of the law
Questions? Contact us at support@meetava.com or (920) 287-0282.
Disclaimer: This notice is provided for informational purposes only and does not constitute legal advice. The information contained herein is a general summary of rights under the Right to Financial Privacy Act and may not reflect the most current legal developments. You should consult a qualified attorney for advice regarding your specific situation. This notice is not intended to and does not create any contractual or other legal rights.