Disclosure for Electronic Statements

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Question:

Our bank is soon going to provide customers with the option to receive electronic statements. When they sign up for this feature, we are required to provide a disclosure. What do I need to include on that disclosure to comply with all the regulations?

Answer:

E-delivery of written documents is complicated. You must understand several complex banking regulations, your state's Uniform Electronic Transactions Act, and the federal ESIGN Act before you start an e-delivery implementation project. Fortunately, BOL has presented a webinar on this broad topic and that presentation is still available on CD here in the Bankers Store.

First published on BankersOnline.com 7/19/10