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#934529 - 04/02/08 02:32 PM eStatements
itsme Offline
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itsme
Joined: Dec 2003
Posts: 140
In the eStatement Agreement, does it have to indicate how the customer can get a hardcopy of their statement? Or, can we just say you're in or you're out and if you want a hardcopy you can rescind this agreement and get all your statements through the mail? What section of the Reg. would I find this?

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eBanking / Technology
#935151 - 04/02/08 09:30 PM Re: eStatements itsme
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Paragraph 101(c)(1)(B)(i) of the E-Sign Act states that you must inform the consumer of
Quote:
(I) any right or option of the consumer to have the record provided or made available on paper or in nonelectronic form, and (II) the right of the consumer to withdraw the consent to have the record provided or made available in an electronic form and of any conditions, consequences (which may include termination of the parties’ relationship), or fees in the event of such withdrawal; ... [emphasis added]


If there is no right to option in your service offering to receive a paper copy of the statement or other document, there is no requirement that you have to tell them how to get a paper copy. It would seem reasonable to me, however, that you would offer to provide a printed copy at a cost if the consumer isn't bailing out of the agreement. But my thinking it's reasonable doesn't mean it's a requirement!
Last edited by John Burnett; 04/02/08 09:31 PM.
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