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#1784663 - 02/11/13 03:36 PM Electronic Records
Compliance Newbi Offline
Junior Member
Joined: Mar 2010
Posts: 39
Illinois
Since our bank is running out of storage room, we purchased a scanner to begin scanning files to keep electronic records versus paper records. We have decided to keep the titles, mortgages, and notes in paper form in files. Are there other things that we should be keeping in paper? Do we need to keep original signature cards for deposit accounts?

I've been looking for information on this, but I can't seem to find much. I would really appreciate any input.

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eBanking / Technology
#1785391 - 02/12/13 10:21 PM Re: Electronic Records Compliance Newbi
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,748
On the Net
I would really direct the question to counsel. I've been told by my bank attorney once that any good attorney can get an electronic version of a document submitted. But there are some things that make it much easier when you have the old wet signature.

If you go e-form, you need to be able to meet court requirements for submission as evidence and the records custodian needs to be able to discuss security of the documents, accuracy, the fact that they haven't been altered, are original, etc.
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#1785972 - 02/14/13 02:07 PM Re: Electronic Records Compliance Newbi
Compliance Newbi Offline
Junior Member
Joined: Mar 2010
Posts: 39
Illinois
Thanks for your input! Some of us were thinking along the same lines, but this may convince the others.

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