01/12/2025
We are thinking about placing the Annual Escrow Analysis statements on customers' online banking portal (same place where monthly statements reside). In looking at 1024.17 (and its subpart under RESPA), there doesn't appear to be any call out eliminating the need to deliver via USPS. If we went to electronic delivery (within compliance under the ESIGN Act), would we
then still have to deliver a physical copy of the annual escrow analysis statement (when required under the same citation)?
04/23/2023
While the Fed has revoked Reg D, when it comes to excessive withdrawals individual banks are still able to charge fees after a predefined number of debits or withdrawals. The question I have is when a bank charges a fee, should that fee be counted toward that withdrawal number? I am concerned that this is a UDAAP risk.
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?