03/14/2021
Can a financial institution obtain consent for e-delivery of loan documents on bank hardware/software? In other words, electronic delivery of documents on a bank computer rather than the consumer's own computer?
10/06/2019
Do weblinking rules apply if a business has a link to us, and are we required to monitor this?
05/05/2019
We currently offer eStatements to our online customers but have a very low adoption rate. We seem to be running into issues with getting customers signed up because we cannot assist them at the bank unless it is on their own device. Being compliant with the E-Sign Act says the customer must "reasonably demonstrate that they can access information in the electronic form that will be used to provide the information that is the subject of the content". What is the way around this so that we can get them signed up at account opening or by utilizing a lobby computer? I know of other institutions that do this but am not finding how that is in compliance. Any help would be appreciated!
04/28/2019
Our customers who want e-disclosures click on an “Enroll Me” link. Is that good enough for compliance?
04/14/2019
Most consumers only use a mobile device these days to access their online banking. Is enrolling and accepting e-statements on a mobile device compliant with a consumer demonstrating consent?
04/07/2019
If we send e-statements are we required to monitor whether they are being read, and if the customer is not opening them, do we have to revert back to paper?
03/24/2019
We like having customers sign up for Internet banking when they open their accounts. Is this acceptable for E-SIGN, or is more needed?
11/11/2018
We have had an internet banking platform for several years and are preparing to roll out the mobile banking interface to internet banking customers. Through both the online platform and the mobile platform, customers are able to access account statements. We currently also provide paper statements to all customers, including those who are enrolled in internet banking. Customers are not able to choose between paper statements and electronic statements in the internet banking platforms (i.e. internet banking customers with access to electronic statements also receive a paper statement).
Are we required to be compliant with E-SIGN due to the internet banking customers being able to access account statements electronically, even though they are receiving paper statements?
05/06/2018
We like having customers sign up for Internet banking when they open their accounts. Is this acceptable for E-SIGN, or is more needed?
03/18/2018
We are in the beginning stages of implementing online account opening. We are working with the vendor regarding E-SIGN acknowledgment. Currently, the test environment is configured so that the customer receives a validation code in an email. All of the required disclosures are attached to this email as a pdf. I am of the opinion this does not comply with E-SIGN's demonstrable
consent requirement.
Their response to my concern is as follows:
Our other clients have concluded that by obtaining consumer consent to E-SIGN and confirming the consumer received the email (using the verification code) reasonably demonstrates that the consumer can access the information in the electronic form. The disclosures in the email are PDF files. PDF format is an ISO standard that enable users to exchange and view electronic documents, independent of the environment in which they were created or the environment in which they are viewed or printed, while preserving content and visual appearance. Adobe relinquished control of the PDF format in July 2008 to the International Organization for Standardization to encourage the propagation and dissemination of this common technology. Today all modern operating systems, including mobile, support display of PDF files. Adobe Acrobat Reader is not a requirement to open and view PDF files.
Thus, my question is would you deem this configuration to meet E-SIGN consent requirements?
