Do you have to answer that subpoena? The answer is clearly…..maybe! Almost every privacy law, rule and regulation require us to protect our members’ financial data, but there are specific exceptions. There are very specific rules governing your response to valid subpoenas and even your ability to seek recovery of expenses. Your credit union must understand the proper method to assess and timely respond to federal subpoenas to maintain member privacy and avoid potential liability.
Note: This program will discuss only federal subpoena rules and general procedures and is intended for credit unions from all states.
Attorney, author, consultant and nationally recognized trainer, David A. Reed is a partner in the law firm of Reed and Jolly, PLLC. Through Reed and Jolly, Mr. Reed provides guidance to credit unions concerning a variety of matters including the establishment and revision of policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters and corporate governance. In addition to his legal expertise, Mr. Reed is a Certified Fraud Examiner and Chairman of a Supervisory Committee.
A former trial attorney and Vice President and General Counsel of Apple Federal Credit Union, Mr. Reed is particularly noted in the areas of credit union operations, governance, security, bankruptcy and collections. He has been selected to train federal and state field examination staff on numerous issues including BSA, Field of Membership, ID Theft Red Flags, S.A.F.E Act, Third Party Contract Management, Cybersecurity and Bankruptcy.
