The final rule clarifies and simplifies the disclosure process for online transactions. The Electronic Signatures in Global and National Commerce Act (E-Sign Act) authorizes credit unions to provide disclosures electronically only after the member affirmatively consents to receiving the following disclosures; (1) the right to receive the information in writing; (2) the consent necessary to receive the disclosures electronically; (3) the procedures to withdraw consent; (4) procedures for receiving a paper copy of any electronic record and (5) the equipment needed to receive electronic notices.
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