12 C.F.R. § 12.102 National bank use of electronic communications as customer notifications.
Title 12 - Banks and Banking
(a) In appropriate situations, a national bank may satisfy the “written” notification requirement under §§12.4 and 12.5 through electronic communications. Where a customer has a facsimile machine, a national bank may fulfill its notification delivery requirement by sending the notification by facsimile transmission. Similarly, a bank may satisfy the notification delivery requirement by other electronic communications when: (1) The parties agree to use electronic instead of hard-copy notifications; (2) The parties have the ability to print or download the notification; (3) The recipient affirms or rejects the trade through electronic notification; (4) The system cannot automatically delete the electronic notification; and (5) Both parties have the capacity to receive electronic messages. (b) The OCC would consider the permissibility of other situations using electronic notifications on a case-by-case basis.
Title 12: Banks and Banking
PART 12—RECORDKEEPING AND CONFIRMATION REQUIREMENTS FOR SECURITIES TRANSACTIONS
Interpretations
§ 12.102 National bank use of electronic communications as customer notifications.
