I tried my best to find an answer and couldn't, so please let me know if I somehow missed this somewhere else.

My understanding is that we can't require existing consumer customers to start using e-statements. What about commercial customers? Specifically, customers that receive analysis statements?

The way I read the E-SIGN Act is that we can't force anyone, individual or business, to receive electronic records via e-statement (Section 7001). But analysis statements aren't really periodic statments... so now I am just a bundle of confusion.

Has anyone ever come across this before? I'd appreciate any feedback or experience. Thanks!

The concern should be about a record (which includes a statement, notice, report, disclosure, etc.) that is required by law to be in writing. E-SIGN requires that your customer agree to receipt of such notices electronically before you can legally provide them electronically, and consumers' consent has to be of a special "demonstrative" variety.

I see nothing in E-SIGN that would prevent you from requiring electronic delivery of account analysis statements, since there is no law I am aware of requiring them at all, let alone requiring them in written form. My only caveat is that you research your account or analysis agreement for language in which you say that you'll deliver the analysis in any particular format. If there is such a statement, consult with counsel to determine whether you can unilaterally change that provision, with or without notice to the depositor.

Okay I will pull out or agreements and take a look. Thank you!

That all depends on the definition of the word "person" in paragraph 7001(b)(2). ESIGN doesn't define the term, but maybe there's a definition upstream in the the code, or a general legal principle that applies. These are questions best answered by counsel.

I saw this in Section 7006:


(8) Person
The term “person” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, governmental agency, public corporation, or any other legal or commercial entity.

Yes, your initial conclusion is right on the mark. (I'm used to seeing definitions at the beginning of laws & regs.)

Can we require a consumer to consent to E-SIGN as a condition for enrolling in online banking or online bill pay?

If you so choose, I don't see why not.

Perhaps take the carrot vs. the stick approach, and charge them for paper vs. free estatements? Then maybe they'll make that leap on their own.