Thank you! You have some very good points and you’re right – I may be warning about the wrong storm. I will remind the powers that be that we could be playing with fire….and why. If these same powers decide that it’s a risk they’re willing to take, then I might just have them put it in writing so later on they can’t come back to me and ask why I didn’t do anything about the issue because if it ever came down to it, I will be the one held accountable. Thanks again!

In fairness to your business people, it's impossible to manage an unknown risk. On the surface, ESIGN doesn't look very risky and no one's heard of a bank getting zapped. After you explain the danger that lies just below the surface, they can decide whether the savings of paper and postage are sufficient to gamble on multiple class action penalties.

We are having problems with deposit customers not following through and "consenting" with the email that we send them for the delivery of estatements. Another bank we talked to had tablets at the teller stations so that they could log-in to their email and consent immediately while opening the account or switching to estatements. Anyone heard of this? I would think that this is no different than someone that doesn't have a computer and gains access by way of a library computer, for example. Just trying to make this work with less headaches.

Also, as a side note-we just wrapped up our Compliance exam with the FDIC and they did request documentation verifying the consent.

Yes I have heard of it, and it's a futile attempt at an end run around the law. That practice has been discredited many times because it does not demonstrate that the customer can receive, read and retain electronic documents outside the bank.

Thanks John for confirming what I thought.

We've discussed this many times over the years. Here's a thread that seems to match your situation.

1. Then they are not ready for e-statements. Is it a lack of interest, incentive or a problem with the delivery? In any case, you can't force it and you can't assume customers will follow thru. They (consumers) must demonstrate acceptance/ability.
2. The robot is swinging his arms and yelling "danger Will Robinson." All you have to do is look back at 1 above.

That's a good point, Andy. Customer actions speak louder than words.