WEB 9-11142 - Grand Jury Subpoenas for Financial Records
Bank Depositor Lacks Standing to Challenge Subpoena
Background
A grand jury subpoena duces tecum is a court order that compels a person or organization to produce documents or other evidence for use in a criminal investigation. In this case, a bank depositor challenged a grand jury subpoena that sought financial records related to their account.
Issue
The issue before the court was whether a bank depositor has a sufficient Fourth Amendment interest in their financial records to challenge a grand jury subpoena.
Holding
The court held that a bank depositor lacks the necessary Fourth Amendment interest to challenge a grand jury subpoena for their financial records.
Reasoning
The court reasoned that a bank depositor does not have a reasonable expectation of privacy in their financial records held by a bank. This is because banks are heavily regulated and subject to strict privacy laws. Additionally, depositors voluntarily provide their financial information to banks when they open an account.
Conclusion
This landmark decision significantly limits the ability of individuals to challenge grand jury subpoenas for financial records. Law enforcement agencies now have greater authority to obtain financial information in criminal investigations.
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