E-Sign Act

What is the purpose of the E-Sign Act?

Governs the circumstances under which electronic signatures may be accepted on certain disclosures and documents.

What requirements must be met by a creditor/lender under the E-Sign Act?

- Affirmatively consent to electronic delivery and may not have withdrawn the consent - Be provided with a statement informing him or her of the right to have the information in paper form, to what transaction(s) the consent applies, and the right to withdraw the consent - Be provided with information on how to withdraw the consent - Be provided with information on how to obtain paper copies, and - Prior to consent, be provided with information regarding the hardware and software requirements for access to electronic records

What does the E-Sign Act stand for?

The Electronic Signatures in Global and National Commerce Act

Under the E-Sign Act what must the consent process demonstrate?

The consumer's ability to access the information.