|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!
MCWATTERS DISSENTS ON BUDGET VOTE updated
11/22/14 06:37 AM
Also, Revised RBC Rule Coming
National Credit Union Administration (NCUA) Board Member J. “Mark” McWatters was the only one to vote “no” on the board’s 2015 proposed budget, which will increase 4.2 percent over last year. The vote was 2 to 1.
ANNUAL FED WEBINAR ON REGS, GUIDANCE updated
11/21/14 10:32 AM
Also, FinCEN Issues Advisories
Senior staff at the Federal Reserve will host an annual webinar to provide a recap of recent regulatory changes and highlight various inter-agency guidance. The webinar will also discuss current hot topics in the financial services industry and give a glimpse of future regulatory changes.
NEW EMPLOYMENT LAWS FOR 2015 updated
11/21/14 04:33 PM
Also, TIPs Bulletin Posted
The California Chamber of Commerce has released a list of new employment laws scheduled to take effect in 2015 or earlier that will have an impact on businesses in California.
DIANA DYKSTRA RECEIVES 'EAGLE AWARD' updated
11/20/14 10:41 AM
Outstanding Record of Achievement
Diana Dykstra, president and CEO of the California and Nevada Credit Union Leagues, was presented with the American Association of Credit Union Leagues’ highest honor—the Eagle Award—this week during AACUL’s winter meeting in Hawaii.