* Please note that the recording links will be delivered to you via a downloadable word document in your confirmation e-mail. The PowerPoint that corresponds with the recording will be automatically delivered upon purchasing via email from the website.
To protect their customers and employees during the COVID-19 pandemic, many financial institutions are encouraging their customers to conduct transactions electronically. In addition, many state and local government authorities have issued orders asking residents to practice social distancing and shelter-in-place, and to close businesses other than those that are considered essential services. While financial institutions are considered an essential service, many consumers may prefer conducting transactions electronically to reduce the risk of becoming infected. Before information related to a consumer transaction that is required to be in writing can be provided electronically, the E-Sign Act requires that a six-step consumer consent process be completed.
How do you balance the “new normal” of online applications, electronic disclosure delivery, electronic signatures, the requirements of E-Sign and regulatory disclosure requirements while managing identity theft risk and application fraud?
Learn the steps that must be followed to be in compliance with E-Sign. What additional steps should be taken to verify the customer’s identity in view of an increased risk of identity theft? Real-life examples from application to loan and deposit account-opening with digital signatures will be provided.
- What are the rules? Learn about Federal regulations for E-Sign
- Which lending and deposit regulations are related to E-Sign and have specific provisions for compliance?
- Learn the Six-Step Process for Consumer Consent
- Basic Steps for E-Sign Implementation
- Tips for cybersecurity and fraud detection of identity theft. Sample “out of wallet” questions.
- What are the risks for selecting a vendor for online applications and for digital signatures? What are “digital signatures”? What are the risks?
- Certain notices, including any notice of default, acceleration, repossession, foreclosure, or the right to cure for a mortgage or lease of a primary residence are excluded from E-Sign coverage.
- Common questions, resources, exam procedures
- Important DISCLAIMER – state laws will NOT be addressed in this session. It’s critical to involve YOUR legal counsel for state specific rules.
- BONUS – You’ll receive templates for sample policies and procedures for E-Sign.
This informative recording will be helpful to ensure compliance with e-banking and is targeted for Compliance officers, Lending and Loan operations, Deposit Operations, Branch Managers, customer service representatives and others responsible for managing online banking, E-SIGN compliance, e-statements, and e-disclosures.