This is a rebroadcast of a session that was recorded on the 13th of December 2016.
Are you confident your e-statement program is compliant with legal and regulatory guidelines? Many financial institutions have unwittingly established unlawful online banking programs that are in violation of the federal Electronic Signatures in Global and National Commerce (E-SIGN) Act. If you are caught operating a noncompliant program, every e-statement you’ve ever sent could be deemed legally invalid. Regulatory fines, defense costs, and legal settlements could far exceed the potential savings e-statements provide.
Financial institutions engaged in electronic banking are legally obligated to adhere to the E-SIGN Act. E-SIGN disclosure rules prohibit banks from implementing wholesale switchovers, in which all customers are automatically converted to e-statements. Instead, E-SIGN requires customers to “opt-in” before receiving e-statements, so paper statements must be available for those who lack the technology (or desire) to view statements electronically. Are you managing e-statements, e-disclosures, and other e-records effectively and compliantly? Join us for a review of the related compliance risks, rules, policies, and best practices. You’ll learn what it takes to help ensure that your E-SIGN program is compliant with legal, regulatory, and organizational guidelines.