12 CFR 12.102 - National bank use of electronic communications as customer notifications.

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§ 12.102 National bank use of electronic communications as customer notifications.
Link to an amendment published at 82 FR 8107, Jan. 23, 2017.

(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.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

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United States Code

Title 12 published on 09-Jun-2018 03:57

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR Part 12 after this date.

  • 2018-06-07; vol. 83 # 110 - Thursday, June 7, 2018
    1. 83 FR 26347 - Securities Transaction Settlement Cycle
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, FEDERAL DEPOSIT INSURANCE CORPORATION, Office of the Comptroller of the Currency
      Final rule.
      This final rule is effective October 1, 2018.
      12 CFR Parts 12 and 151