12 C.F.R. Subpart B—Requirements Applicable to All Savings Associations
Title 12 - Banks and Banking
(a) General. A savings association (“you”) are not required to inform OTS before you use electronic means or facilities, except as provided in paragraphs (b) and (c) of this section. However, OTS encourages you to consult with your Regional Office before you engage in any activities using electronic means or facilities. (b) Activities requiring advance notice. You must file a written notice as described in §555.310 before you establish a transactional web site. A transactional web site is an Internet site that enables users to conduct financial transactions such as accessing an account, obtaining an account balance, transferring funds, processing bill payments, opening an account, applying for or obtaining a loan, or purchasing other authorized products or services. (c) Other procedures. If the OTS Regional Office informs you of any supervisory or compliance concerns that may affect your use of electronic means or facilities, you must follow any procedures it imposes in writing. (a) Notice requirement. You must file a written notice with the appropriate Regional Office listed at §516.40(a) of this chapter at least 30 days before you establish a transactional website. The notice must do three things: (1) Describe the transactional web site. (2) Indicate the date the transactional web site will become operational. (3) List a contact familiar with the deployment, operation, and security of the transactional web site. (b) Transition provision. If you established a transactional web site after the date of your last regular onsite OTS safety and soundness examination but before January 1, 1999, you must file a notice describing your activity by February 1, 1999. [63 FR 65682, Nov. 30, 1998, as amended at 66 FR 13006, Mar. 2, 2001]
Title 12: Banks and Banking
PART 555—ELECTRONIC OPERATIONS
Subpart B—Requirements Applicable to All Savings Associations
§ 555.300 Must I inform OTS before I use electronic means or facilities?
§ 555.310 How do I notify OTS?
