American Financial Services Association

AFSA Writes to Congress in Support of E-SIGN

Blog Posts

AFSA Writes to Congress in Support of E-SIGN

This week, AFSA wrote a letter to Congress in support of the E-SIGN Modernization Act (S. 4159). This piece of legislation would streamline how consumers consent to receiving electronic documents like billing statements, account information, and contracts. As we witness significant advancements in technology such as smart phones and computers, it is important to expand consumer access to online and mobile financial services.

The E-SIGN Act currently requires consumers to reasonably demonstrate that they can access documents electronically before they can receive an electronic version. The E-SIGN Modernization Act would remove this outdated requirement, so once consumers are provided with disclosure information and consents to receiving documents electronically, they can obtain them through those means.

July 11th, 2020 by