Certified Fraud Examiner Practice 2026 - Free Practice Questions and Study Guide

The U.S. Right to Financial Privacy Act (RFPA) specifically prohibits the disclosure of an individual's financial information by financial institutions without the individual's consent. The purpose of this act is to protect the privacy of individuals in their financial dealings and ensure that any sharing of information occurs only when the individual grants permission. This legal framework reflects the idea that individuals have a right to control their financial information and to have that information kept private unless they allow otherwise.

In relation to the other options, financial institutions are indeed allowed to open accounts for citizens, and there are no broad prohibitions against banks lending money to customers within the RFPA. Furthermore, while unauthorized access to digital banking systems is a significant concern, such cybersecurity issues fall under different regulations, such as those pertaining to data breaches and user privacy, rather than the scope of the RFPA. Thus, the key aspect of the act centers on the consent requirement for the disclosure of financial information, which is accurately represented by the selected answer.