Answer by Richard Insley:
I am not aware of anything in print or online (other than a number of BOL threads on this topic), but your study must include ESIGN and the Fed's e-Regs (the 2001 amendments to Regs Z and DD). In order to switch to e-delivery of statements, you must implement both.
Answer by Mary Beth Guard:
I'm also not aware of any articles on e-statements. There's little clearcut guidance in this area. While the regulators promulgated the e-regs, they subsequently lifted the mandatory compliance deadline for them and requested further comments. Until they are withdrawn or amended, however, they provide useful insight into how to proceed. See our article Federal Reserve Adopts E-Disclosure Rules.
Periodic statements are regulatorily required on certain types of consumer accounts under Regulation E. If a law or reg (or even your contract) requires you to provide "written" statements, you can only substitute electronic ones if they are designed to meet the requirements of the ESIGN Act and are thus legally entitled to be treated as if they were written.
First published on BankersOnline.com 4/1/02