U.S. Court Holds Financial Privacy Law Does Not Apply to Foreign Requests

On November 28, 1988, U.S. District Court for the Southern District of New York in the case of Young v United States Department of Justice, held that the Right to Financial Privacy Act does not restrict access to customer records by requests emanating from foreign governments.  The holding is significant in that it is the first case to comprehensively consider the issue and pronounce judgment and a reasoned analysis.