Financial institutions continue to manage the “new normal” of lending during a pandemic in 2021. One of the solutions typically offered is using technology to accept applications electronically. What steps must be followed to be in compliance with E-SIGN? What NEW steps should be taken to verify the customer’s identity in view of an increased risk of identity theft and application fraud? Attend this session and learn about the rules, challenges, and best practices for compliance with E-SIGN.
The world of electronic banking continues to evolve and bankers want to keep pace with technology and customer preferences. Recent surveys indicate that 51% of adults in the U.S. bank online and 32% bank with mobile phones. Customers expect more digital access at a time that cybersecurity has become a significant threat. The March 2019 “breach” of 106 million records from credit card applications and 140,000 Social Security numbers from a national financial institution has brought additional scrutiny to compliance with both cyber-security and consumer protection regulations. What steps must be followed to be in compliance with E-Sign? What NEW steps should be taken to verify the customer’s identity in view of an increased risk of identity theft?
- What are the rules? Learn about Federal regulations for E-Sign
- Which lending regulations are related to E-Sign and have specific provisions for compliance?
- Recent court cases and potential liability issues
- How do you comply with the “delivery” requirements of Integrated Disclosures for Loan Estimates and Closing Disclosures?
- What are “digital signatures”? What are some best practices?
- What are the retention requirements for loan documents
- Learn the Six-Step Process for Consumer Consent
- Basic Steps for E-Sign Implementation
- Tips for cyber-security and fraud detection of identity theft
Who Should Attend?
This informative session will be helpful to ensure compliance with e-banking and is targeted for Compliance officers, Lending staff and Loan operations, Operations Managers, and others responsible for managing online banking, E-SIGN compliance, e-statements, and e-disclosures.
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