We have a question concerning the E-Sign Act. If we scan our initial loan disclosures and e-mail them to our customers, they sign them and send back, do we need to comply with E-Sign?? They are physically signing the papers, didn't know if this might be an issue for us. Please help!!

If you are going to email a disclosure to a customer, you MUST comply with E-SIGN. Otherwise, they didn't officially receive it in compliance with the regulation or the E-SIGN Act.

I'd want to study that some. Because you are sending them the whole package, they have no obligation until they are received, signed and returned to you. This is like a fax. It isn't optimal, but it isn't a digital signature.

If we do have to comply with the E-Sign, can the notice that we give the customers just be something that the bank types up & gives at application? Or is there a standard form that we use?

ESIGN requires you to disclose a number of things about your method of e-delivery of documents. These disclosures can be provided on paper or electronically. After you make these disclosures, you must obtain each customer's consent for electronic delivery of any document that otherwise must be delivered "in writing." The customer's consent must be electronic and it must demonstrate that the customer has mastered the technology that supports the e-delivery.

If this all sounds FAR more complicated than you expected, then you are beginning to understand ESIGN.