|Clarissa Martin, Research and Information Consultant for the California and Nevada Credit Union Leagues|
DIGEST LOOKS AT 'ESIGN' COMPLIANCE
updated 05/10/13 10:54 AM
Expert Provides Useful Tips
What steps do credit unions need to follow for members to receive documents electronically under the Electronic Signatures in Global and National Commerce (ESIGN) Act?
The ESIGN Act established the legitimacy of signing contracts and documents online. These electronic signatures and records have the same legal validity and enforceability as paper records and handwritten signatures.
Under ESIGN, consumers must affirmatively consent to receive records in electronic form. Prior to consenting, consumers must be provided with a clear and conspicuous statement of rights regarding the transaction, as well as a statement of hardware and software requirements for access and retention of electronic records.
Once disclosure requirements are met, a consumer must consent electronically, or confirm his or her electronic consent, in order to demonstrate he or she can access information in the electronic form used by parties to conduct the transaction.
Click here to continue reading, and discover six steps to complying with ESIGN within the latest Asked & Answered column on page 18 in the April/May edition of Credit Union Digest!
CUs ENGAGE LAWMAKERS ON CAPITOL HILL updated
03/03/14 12:29 PM
New Legislators Show Support
As Congress considers tax reform, data security, regulatory relief, and other vital credit union issues, this year’s 2014 Governmental Affairs Conference (GAC) in Washington D.C. was a pivotal event for credit union executives and board members who advocated face to face with legislators on behalf of their members and the movement.
LEAGUES PRESIDENT RECAPS GAC updated
02/28/14 01:41 PM
'Attendees Were Encouraged,' She Says
The highly-anticipated annual Governmental Affairs Conference (GAC) in Washington, D.C. has come to an end. From Feb. 23-26, attendees had the chance to hear from influential legislators and credit union experts on the political landscape, attend breakout sessions on the hottest issues, and network with peers.
CO-OP COMMENTS ON VISA, FIRST DATA updated
02/27/14 03:08 PM
Thinks it’s an Industry Win-Win
CO-OP Financial Services’ business partners—Visa and First Data (STAR Network)—announced an agreement to share Visa’s common debit solution offering issuers, acquirers, and merchants an approach for debit EMV chip adoption.
ROYCE: NEXT STEP FOR MBL LEGISLATION updated
02/25/14 12:37 PM
'We Still Have Work to Do'
Representative Ed Royce, R-CA, announced today during the Credit Union National Association's 2014 Governmental Affairs Conference (GAC) that he will introduce legislation giving parity for credit unions with respect to standing law for banks.