Legal and Compliance Issues
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.
Business Continuity Controls
Trade Names on the Internet