|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!
CHAPTER FORUM, RECEPTION ENGAGES CUs updated
10/27/14 06:55 PM
Networking and Awards after 'REACH'
Credit union chapter members from across California and Nevada gathered Oct. 23 at the JW Marriott (L.A. Live) in downtown Los Angeles to attend the 2014 Chapter Forum, which offered a full day of valuable networking and educational sessions for attendees who were eager to share individual stories about the work their chapters are accomplishing.
NEEN JAMES CHALLENGES CUs AT 'REACH' updated
10/27/14 04:17 PM
'Time is the New Currency'
By Wednesday afternoon, nearly 700 credit union CEOs, professionals, industry vendors, and guests had attended REACH 2014, the California and Nevada Credit Union Leagues’ Annual Meeting and Convention from Oct. 20-22 at the JW Marriott (L.A. LIVE) in downtown Los Angeles.
CFPB, FTC HOST DEBT COLLECTION FORUM updated
10/27/14 03:31 PM
Latino Consumers Discussed
The Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB) recently hosted an all-day forum on “Debt Collection and the Latino Community,” which brought together consumer advocates, industry professionals, and regulators to discuss how debt collection issues affect Latino consumers, especially those with limited English proficiency (LEP).
FinCEN: QUARTERLY UPDATE ON 'SARs' updated
10/27/14 03:09 PM
Also, Mortgage Service Transfer Guidance
The Financial Crimes Enforcement Network (FinCEN) has issued its SAR Stats quarterly update, which provides information on Suspicious Activity Reports (SARs) filed through Sept. 30, 2014.