The IT Law Wiki
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== Computer Fraud and Abuse Act ==
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Under the U.S. [[Computer Fraud and Abuse Act]] ([http://www4.law.cornell.edu/uscode/18/1030.html 18 U.S.C. 1030]), a '''financial institution''' is defined as:
 
In the federal [[Computer Fraud and Abuse Act]] ([http://www4.law.cornell.edu/uscode/18/1030.html 18 U.S.C. 1030]), the term '''financial institution''' is defined as:
 
   
 
:(A) an institution with deposits insured by the Federal Deposit Insurance Corporation;
 
:(A) an institution with deposits insured by the Federal Deposit Insurance Corporation;
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:(H) a branch or agency of a foreign bank (as such terms are defined in paragraphs (1) and (3) of section 1(b) of the International Banking Act of 1978); and
 
:(H) a branch or agency of a foreign bank (as such terms are defined in paragraphs (1) and (3) of section 1(b) of the International Banking Act of 1978); and
 
:(I) an organization operating under section 25 or section 25(a) of the Federal Reserve Act.<ref>18 U.S.C. 1030(e)(4).</ref>
 
:(I) an organization operating under section 25 or section 25(a) of the Federal Reserve Act.<ref>18 U.S.C. 1030(e)(4).</ref>
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== Red Flags Rule ==
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Under the [[Red Flags Rule]], a '''financial institution''' is defined as “a State or National bank, a State or Federal savings and loan association, a mutual savings bank, a State or Federal credit union, or any other person that, directly or indirectly, holds a transaction account (as defined in section 461(b) of title 12) belonging to a consumer.”<ref>15 U.S.C. §1681a(t).</ref>
   
 
==References==
 
==References==
 
 
<references />
 
<references />
 
 
[[Category:Legislation]]
 
[[Category:Legislation]]
 
[[Category:Legislation-U.S.-Federal]]
 
[[Category:Legislation-U.S.-Federal]]
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[[Category:CFAA]]
 
[[Category:CFAA]]
 
[[Category:Computer crime]]
 
[[Category:Computer crime]]
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[[Category:Privacy]]

Revision as of 04:26, 13 February 2010

Computer Fraud and Abuse Act

Under the U.S. Computer Fraud and Abuse Act (18 U.S.C. 1030), a financial institution is defined as:

(A) an institution with deposits insured by the Federal Deposit Insurance Corporation;
(B) the Federal Reserve or a member of the Federal Reserve including any Federal Reserve Bank;
(C) a credit union with accounts insured by the National Credit Union Administration;
(D) a member of the Federal home loan bank system and any home loan bank;
(E) any institution of the Farm Credit System under the Farm Credit Act of 1971;
(F) a broker-dealer registered with the Securities and Exchange Commission pursuant to section 15 of the Securities Exchange Act of 1934;
(G) the Securities Investor Protection Corporation;
(H) a branch or agency of a foreign bank (as such terms are defined in paragraphs (1) and (3) of section 1(b) of the International Banking Act of 1978); and
(I) an organization operating under section 25 or section 25(a) of the Federal Reserve Act.[1]

Red Flags Rule

Under the Red Flags Rule, a financial institution is defined as “a State or National bank, a State or Federal savings and loan association, a mutual savings bank, a State or Federal credit union, or any other person that, directly or indirectly, holds a transaction account (as defined in section 461(b) of title 12) belonging to a consumer.”[2]

References

  1. 18 U.S.C. 1030(e)(4).
  2. 15 U.S.C. §1681a(t).