Responding to Subpoenas For Financial Services Companies

Summary

This practice note explains how financial services companies may respond to a subpoena. Financial services companies, such as insured depositary institutions, lenders, finance companies, broker-dealers, financial technology firms, securities firms, and loan services, are repositories of vast amounts of customer financial information. Often, financial institutions receive requests for information in which there is no direct involvement. Financial institutions will often receive subpoenas from governmental agencies, grand juries, or parties involved in litigation or disputes. This may be information regarding transaction history, customer account records and documentation, or specific details about the operations of the financial institution itself.