In responding to a subpoena, customer privacy is generally not an issue because both federal and Illinois privacy laws allow banks to disclose customer financial records in response to a subpoena. 205 ILCS 5/48.115 USC 6802(e)(8). (Under the Illinois DFPR’s interpretation, you may make a disclosure if it fits into either the Illinois law’s exceptions or the federal law’s exceptions. Interpretive Letter 01-01 (March 9, 2001).)

The federal privacy laws allow banks to release a customer’s nonpublic personal information “to comply with a properly authorized civil, criminal, or regulatory investigation or subpoena or summons by Federal, State, or local authorities.” 15 USC 6802(e)(8). Therefore, you may comply with a subpoena (providing only the documents required by the subpoena) without violating either federal or Illinois financial privacy laws. If you have any doubt over what documents to provide under a subpoena, we recommend contacting bank counsel.