Posted By: Steve Doty
E-Sign and Fees - 06/15/09 03:41 PM
One of the requirements of an E-Sign disclosure is to:
Inform the consumer how the consumer may nonetheless request a paper copy of a
record and whether any fee will be charged for that copy.
Should this be stated as a specific dollar amount in the disclosure? or will "We may charge you a reasonable service for the delivery of paper copies...." be sufficient?
I believe most banks will use the hourly account research fee or the per copied item fee that is already on the account initial dislosure/fee shcedule. Therefore,disclosing as "a reasonable charge" will be ok.
Thanks for your input.
Inform the consumer how the consumer may nonetheless request a paper copy of a
record and whether any fee will be charged for that copy.
Should this be stated as a specific dollar amount in the disclosure? or will "We may charge you a reasonable service for the delivery of paper copies...." be sufficient?
I believe most banks will use the hourly account research fee or the per copied item fee that is already on the account initial dislosure/fee shcedule. Therefore,disclosing as "a reasonable charge" will be ok.
Thanks for your input.