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Can You Email Adverse Action Notices?

Recently, several dealers have reached out to TIADA through the Compliance Consultation Services to ask whether or not they can send them electronically. In this blog post, guest author Donald Gould from the law firm Johnson, DeLuca, Kurisky & Gould addresses the question. 

By Donald W. Gould II
Johnson, DeLuca, Kurisky & Gould

Providing adverse action notices in writing in the mail can be both time consuming and expensive.  Adverse action notices can be provided electronically via email as long as the consumer provides consents to receiving electronic notices that complies with the ESIGN Act.  The ESIGN Act disclosure has a number of requirements and must be signed by the consumer before the consumer receives the electronic notices.  Dealers using email to provide adverse action notices also need to consult with their IT professional to make sure they have sufficient data security to provide consumer financial information via email.

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