Federal legislation was passed by the 106th Congress and signed by President Clinton on November 12, 1999. This law now makes it a crime to obtain financial records by false pretenses (pretexting) any financial institution for financial records. This bill is known as the " Gramm-Leach-Bliley Act". Title V of this Act makes it very hard to locate financial assets of people who may be attempting to hide those assets from creditors, spouses, and others.
Click HERE for the complete Gramm-Leach-Bliley Act of 1999.
This law also makes it a crime for anyone to solicit or request another person the obtain financial records by false pretenses.
There are only two exceptions that are allowed by this new law. One is for collection of child support judgments, (deadbeat spouses) and the other exception allows insurance companies to obtain financial records to investigate insurance fraud.
FTC interpretation of this law now allows for searches for bank and brokerage assets to be done with any court order. This includes Judgments.
Contact us to see if your situation allows for a financial asset search.
to the Pricing Guide "Pink Sheet".
