Because some elements of the required content of such a disclosure is unique to your institution, you'll definitely need to do some customization. Here are the required elements for E-SIGN compliance:
• The consumer has to affirmatively consent to receive the disclosures electronically, and have not withdrawn that consent
• The consumer, prior to consenting, must be provided with a clear and conspicuous statement that:
• informs the consumer of any right or option to have the document provided in paper format (if such option exists)
• informs the consumer of their right to withdraw their consent to receive the document electronically and of any consequences (which may include termination of the relationship) or fees in the event of such withdrawal
• informs the consumer of whether the consent applies only to the particular transaction which gave rise to the obligation to provide the document or to all identified categories of documents that may be provided during the course of the account relationship
• informs the consumer of the procedures that must be followed to withdraw consent as stipulated above and of procedures to update information needed to contact the consumer electronically
• informs the consumer of how, after the consent, the consumer may, upon request, obtain a paper copy of an electronic document and whether any fee will be charged for such copy
• The consumer, prior to consenting, is provided with a statement of the hardware and software requirements for access to and retention of the electronic disclosures
• The consumer consents electronically, or confirms his or her consent electronically, in a manner that demonstrates that the consumer can access information in the electronic form that will be used to provide the information that is the subject of the consent.
• After the consent of a consumer, if a material change in the hardware or software requirements needed to access or retain electronic disclosures:
• informs the consumer of the new requirements
• provides an opportunity to withdraw consent without the imposition of fees and without the imposition of any condition or consequence of such withdrawal not previously disclosed
• the consumer, again, consents electronically, or confirms his or her consent electronically, in a manner that demonstrates that the consumer can access information in the electronic form that will be used to provide the information that is the subject of the consent
• The timing of the provision of the electronic disclosures complies with applicable timing requirements for written disclosures
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Jim Bedsole, CRCM, CBA, CFSA, CAFP
My posts - my opinions