We do not do e-statements. Since employees can access any of their account information while at work is there a way we can eliminate printing and distributing employee statements? I'm thinking that answer is probably "no" but I told those asking that I would get other opinions.

As customers, they are just like other customers. No shortcut.

The question is being asked again and this time it is if we can send an email notifying employees that their statements were generated today and can be found electronically at ........

In reading in Reg. E concerning statements it says "must send" so I'm guessing that short of doing e-statements for employees we will still be required to print.

Any other opinions?

Can we do e-statements for employees only and not to our regular customers?

you can offer e-statements, but as I understand it, the customer (and this would include employees as well) would have the option of opting out of paper and going with e-statement. If they choose to stay with paper, then you must deliver paper.

Your employees are consumer customers, and they don't give up any consumer rights when they join your organization. They are entitled to the same written statements the rest of your customers are. And you can't mandate e-statements unless they do the "E-Sign dance" that other consumers would have to do.

Once we would go through the e-sign requirements then does that mean we actually email the statement electronically or can we just send an email stating that the statement is ready for them to access and then they have to go further to view/print?

It is your choice. Part of the E-SIGN dance is that you inform the consumer on how the disclosures, statements, etc. will be delivered. You essentially have three options -- Push delivery, in which you send the applicable document (we have to assume you can do it securely); pull deliver with notice, in which you notify the consumer via email that the document is available for download (usually it's behind your internet banking security); or pull delivery without notice for statements, with notice for unscheduled items.

Based only on discussions here in the threads, I believe most banks use pull delivery systems.

Many of your questions will be answered in my upcoming E-SIGN webinar, if you're interested.

http://calendar.bollearningconnect.com/main.php?view=event&eventid=1363274948825