12 C.F.R. § 213.6 Electronic communication.
Title 12 - Banks and Banking
(a) Definition. “Electronic communication” means a message transmitted electronically between a lessor and a lessee in a format that allows visual text to be displayed on equipment, for example, a personal computer monitor. (b) General rule. In accordance with the Electronic Signatures in Global and National Commerce Act (the E-Sign Act) (15 U.S.C. 7001 et seq.) and the rules of this part, a lessor may provide by electronic communication any disclosure required by this part to be in writing. (c) When consent is required. Under the E-Sign Act, a lessor is required to obtain a lessee's affirmative consent when providing disclosures related to a transaction. For purposes of this requirement, the disclosures required under §213.7 are deemed not to be related to a transaction. (d) Address or location to receive electronic communication. A lessor that uses electronic communication to provide disclosures required by this part shall: (1) Send the disclosure to the consumer's electronic address; or (2) Make the disclosure available at another location such as a web site; and (i) Alert the lessee of the disclosure's availability by sending a notice to the consumer's electronic address (or to a postal address, at the lessor's option). The notice shall identify the transaction involved and the address of the Internet web site or other location where the disclosure is available; and (ii) Make the disclosure available for at least 90 days from the date the disclosure first becomes available or from the date of the notice alerting the lessee of the disclosure, whichever comes later. (3) Exceptions. A lessor need not comply with paragraph (d)(2)(i) and (ii) of this section for the disclosures required under §213.7. (e) Redelivery. When a disclosure provided by electronic communication is returned to a lessor undelivered, the lessor shall take reasonable steps to attempt redelivery using information in its files. [Reg. M, 66 FR 17328, Mar. 30, 2001]
Title 12: Banks and Banking
PART 213—CONSUMER LEASING (REGULATION M)
§ 213.6 Electronic communication.
