Question: Marketing is working on our E-SIGN promotions and wants to know what the E-SIGN agreement will include. Is it just lending, deposits, or can it include both?
Answer: Your agreement itself should disclose all of the disclosures you will be making electronically, such as loan contracts, security agreements, deposit agreements, change in terms notices, etc., but those items do not have to be disclosed in promotion piece. There is no requirement that this in-depth list of what you will disclose is advertised, although it should be disclosed in your actual agreement so both parties understand what will be in bits and bytes in the future, and was on paper in the past.
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
Print Friendly!
Email This Article!
Discuss NOW!
