IBA Compliance Connection

Your go to source for compliance!

We received an attorney’s subpoena requesting a huge amount of information in a short amount of time. We responded and then billed the attorney approximately $600 for our time and costs spent responding to the subpoena. More than three months now have gone by, and the attorney has not responded to our invoice. What can we do to force payment?

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The Illinois Banking Act requires you to charge for the direct costs incurred in producing your response to the subpoena. Unfortunately, it does not provide for recourse in a situation like yours, if payment is not made, and you would need to pursue reimbursement in the same manner as you would for other small unpaid debts.

We note that when served with a subpoena for financial records, you may prepare an estimate of the costs associated with responding to the subpoena and require partial payment before proceeding to locate and reproduce the requested documents. You also may withhold delivery of the requested documents until final reimbursement for all costs is received.

For resources related to our guidance, please see:

  • Illinois Banking Act, 205 ILCS 5/48.1(g) (“A bank shall be reimbursed for costs that are reasonably necessary and that have been directly incurred in searching for, reproducing, or transporting books, papers, records, or other data required or requested to be produced pursuant to a lawful subpoena, summons, warrant, citation to discover assets, or court order. The Commissioner shall determine the rates and conditions under which payment may be made.”)
  • Illinois Administrative Rules 38 Ill. Admin. Code 356.40 (“At the bank's or corporate fiduciary's option, it may prepare one or more reasonable estimates of the ultimate reimbursement of costs associated with a search for financial records in the form prescribed in Section 356.30 of this Part and require one or more partial payments before proceeding with the work of locating and reproducing the requested documents.  Delivery of the requested documents may be delayed until final reimbursement of all costs is received.”)
  • Illinois Administrative Rules 38 Ill. Admin. Code 356.30 (“The bank or corporate fiduciary shall provide to the person requesting such records an itemized invoice indicating in specific detail the costs for: (a) personnel; (b) reproduction; (c) transportation; and (d) all other costs incurred in searching for, reproducing and transporting data pursuant to a request for financial records.”)