Prohibits a request for subscriber information or financial or business records from: (1) containing any requirement that would be held unreasonable if contained in a subpoena issued by a U.S. court in aid of a grand jury investigation of espionage or international terrorism; or (2) requiring the production of documentary evidence that would be privileged from disclosure if demanded by such a subpoena.

Prohibits an electronic communication service provider, a financial institution, or a consumer reporting agency from disclosing that the FBI has sought access to telephone records for 90 days after receipt of such request, with exceptions (current law places no limits on nondisclosure). Authorizes the court to issue an ex parte order prohibiting disclosure for an additional period upon determining that there is reason to believe that disclosure sought by a government agency will result in: (1) endangering the life or physical safety of any person; (2) flight from prosecution; (3) destruction of or tampering with evidence; (4) intimidation of potential witnesses; or (5) otherwise seriously endangering U.S. national security by alerting a target, a target's associates, or the foreign power of which the target is an agent, of the government's interest in the target.

Sets forth provisions governing: (1) judicial review of requests for and disclosure or nondisclosure of information; and (2) use and disclosure of acquired information by federal officers, including requirements for advanced authorization by the Attorney General for its use in a criminal proceeding, advance notice to the aggrieved party of its use in a trial, hearing, or other government proceeding, and the right of such party to move to suppress evidence obtained.