e-Delivery:
Going paperless without violating ESIGN
 Presented by:
Richard Insley, APR Systems, Inc.

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Materials (only available to registered users)

Cost reduction is a major goal for every financial institution. Due to their investments in online banking systems, many institutions have acquired the ability to reduce costs in a new way. They can transmit "written" communications to their customers electronically instead of on paper through the U.S. Mail. Savings can be substantial, including the cost of forms, envelopes, printing and postage.

Account statements (deposits, credit cards, HELOCs, etc.) are prime targets, offering enormous potential for savings. Countless millions of account statements flow through the U. S. Mail each month. By converting even a small percentage of these paper communications to e-delivery, your institution stands to save serious amounts of money.

Why aren't more financial institutions switching to e-delivery? Simple--compliance problems. Regulations DD, E, and Z require that periodic disclosures (statements) must be "written." Unless your institution's e-delivery system meets the difficult and confusing standards set by these regulations and the federal ESIGN Act, you may face enforcement actions and civil penalties.

This presentation will outline the e-delivery compliance issues and provide an action plan leading to cost savings. We will explore the rules, common violations and enforcement, including:
  • ESIGN and UETA
  • The "e-Regs" (amendments to Fed Regs. B, E, M, Z, and DD)
  • The new SpeRS standards (to be released August 2003)
  • e-Delivery enforcement actions and penalty potential
We will also review some of the popular e-delivery models used by financial institutions, including:
  • "Push" delivery
  • "Pull" delivery
  • Hybrid systems
Finally, we will walk through an action plan identifying the major tasks leading to a risk-free implementation of e-delivery savings at your institution.

About the speaker:  
Richard Insley
Richard is an Internet content developer, frequent speaker on e-compliance topics, and 33-year veteran in the regulatory compliance business.

His career began at the Federal Reserve Bank of Richmond. After 11 years as a bank examiner and supervisor he became the lead compliance officer for a regional banking company where he handled a wide range of regulatory issues for 16 years, including creation of one of the earliest transactional web sites in the industry (1996).

Thousands of bankers from coast to coast have attended Richard's innovative "Click Here to Violate the Law" and "Wired for Compliance" seminars during the past 8 years. Since the 1970's he has served on the faculties of FFIEC and Federal Reserve examiner training schools, ABA's National Compliance Schools (Basic and Graduate), the Stonier Graduate School of Banking and the schools of banking of Georgia, Maryland, South Carolina, Virginia and West Virginia. He is a frequent participant in compliance conferences sponsored by state, regional and national trade associations.

Richard develops, maintains and audits web sites for banks and their trade associations and is an active developer of online training and calculation devices. In 1999 he created "The Checkers Bank," the Federal Reserve's online simulation for e-compliance examiner training.

About the seminar:
One registration is required per location. If the complete broadcast is received via the computer the AUDIO and VIDEO COMPONENTS can be connected to a A/V projector to allow multiple participants to view the conference. If the audio portion of the broadcast is received via the telephone the AUDIO portion can be placed on speaker phone to allow multiple participants. Interactive components delivered via Web include slides, online polls and Interactive Q&A via chat.

Each registration also comes with one ARCHIVED viewing of the event. This will enable you to participate in the LIVE event as well as train additional staff from the ARCHIVED event.

Handouts will be provided and we welcome questions during and after the seminar, as well as in advance. Questions received after the seminar will be posted on a special Web page for later viewing by seminar attendees.

Contact Information: Billing questions can be directed to Carin Eisenhauer, carin@bankersonline.com. All other questions may be directed to mpetry@bankersonline.com

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