Yes, the statement in the subpoena overrides the general rule that banks must notify a customer before sharing the customer’s financial information in response to a subpoena.

You are correct that the Illinois Banking Act generally requires the bank to notify a customer before responding to a subpoena. However, this requirement does not apply when the “bank is specifically prohibited from notifying the person by order of the court or by applicable State or federal law.” In this case, the court-issued subpoena orders your bank not to disclose the existence of the subpoena. Consequently, your bank is relieved from its obligation to notify the customer before responding to the subpoena.

For resources related to our guidance, please see:

• Illinois Banking Act, 205 ILCS 5/48.1(d) (“A bank shall disclose financial records . . . under a lawful subpoena . . . only after the bank mails a copy of the subpoena . . . to the person establishing the relationship with the bank, if living, and, otherwise his personal representative, if known, at his last known address by first class mail, postage prepaid, unless the bank is specifically prohibited from notifying the person by order of court or by applicable State or federal law. A bank shall not mail a copy of a subpoena to any person pursuant to this subsection if the subpoena was issued by a grand jury under the Statewide Grand Jury Act.”)