A bill to amend Public Law 91-508 to limit the disclosure of bank records by financial institutions, and for other purposes.

Restricts the disclosure of bank records by financial institutions to governmental agencies in order to protect and preserve the confidential relationship between fiduciary institutions and their customers.

Sets forth the definition of fiduciary institution, financial records, and supervisory agency, for purposes of this Act.

Provides that a fiduciary institution may not disclose to any person except to the customer or his duly authorized agent any financial records relating to that customer except where the customer has authorized such a disclosure or there has been a court order to obtain the financial records of the customer.

Provides for both civil and criminal penalties for any financial institution or officer of a fiduciary institution which knowingly and willfully discloses or furnishes financial records in violation of this Act.

Provides that nothing in this Act prohibits: (1) the examination of any financial records by a financial institution or by any officer or employee of a supervisory agency for use solely in the exercise of duties in an official capacity; (2) the publication of data furnished from financial records relating to customers where such data cannot identify any particular customer or account; and (3) the making of reports on returns as is required by the Internal Revenue Code of 1954.