The National Defense Authorization Act for Fiscal Year 2021 (“NDAA”)  dramatically expanded the government’s power to use Patriot Act subpoenas to obtain records from banks.  Foreign banks and U.S. banks that provide correspondent accounts to foreign banks should prepare now for the increased use of these subpoenas. In the video, Jeffrey Alberts, co-chair of Pryor Cashman's Financial Institutions Group, discusses the NDAA and shares a few thoughts on what banks should do now to prepare.