Website Disclosures Implementing E-SIGN

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Question:

What disclosures need to be posted on our website for customers to receive their statements electronically and be in compliance with E-SIGN?

Answer:

Website disclosures have nothing to do with the core requirements of E-SIGN. You must make the 101(c) E-SIGN disclosures and obtain demonstrable consent. Your website may assist you in that process, but there is no single disclosure on your site that will make you E-SIGN compliant. The demonstration is also necessary.

First published on BankersOnline.com 4/06/09