N.C. Gen. Stat. § 53B-10
Penalty
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
(1) Any financial institution disclosing financial records or information contained therein in violation of this Chapter shall be liable to the customer to whom the records relate in an amount equal to the sum of: One thousand dollars ($1,000);
(1) Any financial institution disclosing financial records or information contained therein in violation of this Chapter shall be liable to the customer to whom the records relate in an amount equal to the sum of: One thousand dollars ($1,000);
(2) Any actual damages sustained by the customer as a result of the disclosure; and
(2) Any actual damages sustained by the customer as a result of the disclosure; and
(3) Such punitive damages as the court may allow, where the violation is found to have been willful or intentional.
(3) Such punitive damages as the court may allow, where the violation is found to have been willful or intentional.
(4) Any government authority that participates in or induces or solicits a violation of this Chapter shall be liable to the customer to whom the violation relates in the amount set out in subsection (a) above. It shall be a defense to an action under this subsection that the government authority acted in good faith in obtaining and relying upon process issued pursuant to G.S. 53B-4.
(4) Any government authority that participates in or induces or solicits a violation of this Chapter shall be liable to the customer to whom the violation relates in the amount set out in subsection (a) above. It shall be a defense to an action under this subsection that the government authority acted in good faith in obtaining and relying upon process issued pursuant to G.S. 53B-4.
History
(1985 (Reg. Sess., 1986), c. 1002, s. 1.)
Legal Periodicals. - For article, "Damages Under the Privacy Act: Is Emotional Harm 'Actual'?," see 88 N.C.L. Rev. 334 (2009).
Opinions of Attorney General
The provisions of the Financial Privacy Act apply when worthless checks are issued on an account opened in a false or fictitious name and result in a loss to the financial institution in which the account was opened. See opinion of Attorney General to Ms. Mary C. McNaught, Public Safety Attorney, City of Winston-Salem, 59 N.C.A.G. 4 (1989).
The notice procedures of the Financial Privacy Act are to be followed when there is strong reason to believe that the account in question has been opened in a false or fictitious name. See opinion of Attorney General to Ms. Mary C. McNaught, Public Safety Attorney, City of Winston-Salem, 59 N.C.A.G. 4 (1989).
"Customer." - A person who has opened an account at a financial institution in a fictitious name or the name of another person is a "customer" within the meaning of the Financial Privacy Act. See opinion of Attorney General to Ms. Mary C. McNaught, Public Safety Attorney, City of Winston-Salem, 59 N.C.A.G. 4 (1989).
There are no exceptions to the public policy expressed in G.S. 53B-3. Any agency or institution which gains or provides access to records except in conformity with this Chapter is subject to the substantial penalties provided for in this section. See opinion of Attorney General to Ms. Mary Claire McNaught, Public Safety Attorney, 59 N.C.A.G. 4 (1989).
The fact that a financial institution is the victim of a crime or sustains a loss through an account held in a false or fictitious name by one of its customers does not waive the provisions of this Chapter. The Chapter provides the exclusive means by which a financial institution may give a government authority access to a customer's financial records or by which a government authority may obtain access to such records. See opinion of Attorney General to Ms. Mary Claire McNaught, Public Safety Attorney, 59 N.C.A.G. 4 (1989).
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.