Legal and Compliance Issues

Action Summary

Because e-banking limits face-to-face interaction and the paper-based exchange of information with customers, e-banking introduces new compliance or legal risks. Institutions should:

  • Clearly identify the official name of the financial institution providing the e-banking services;
  • Properly disclose their customer privacy and security policies on their websites; and
  • Ensure that advertisements, notices, and disclosures are in compliance with applicable statutes and regulations, including the E-Sign Act.


Financial institutions should comply with all legal requirements relating to e-banking, including the responsibility to provide their e-banking customers with appropriate disclosures and to protect customer data. Failure to comply with these responsibilities could result in significant compliance, legal, or reputation risk for the financial institution.


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