We believe that a few additional items would have to be added to the Electronic Statement disclosures. The federal Electronic Signatures in Global and National Commerce (ESIGN) Act and the Illinois Financial Institutions Electronic Documents and Digital Signature Act require the following items of information in electronic statement disclosures (15 USC 7001(c)(1)205 ILCS 705/10(a)):

• The consumer’s affirmative consent
• Any right or option of the consumer to have the record provided or made available on paper or in nonelectronic form
• The right of the consumer to withdraw the consent to have the record provided or made available in an electronic form and of any conditions, consequences (which may include termination of the parties’ relationship), or fees in the event of such withdrawal
• Informing the consumer of whether the consent applies only to the particular transaction which gave rise to the obligation to provide the record, or to identified categories of records that may be provided or made available during the course of the parties’ relationship
• A description of the procedures the consumer must use to withdraw consent and to update information needed to contact the consumer electronically
• Information as to how the consumer, after consenting to electronic disclosures, may, upon request, obtain a paper copy of an electronic record, and whether any fee will be charged for such copy
• A statement of the hardware and software requirements for access to and retention of the electronic records
• The consumer’s electronic consent (or electronic confirmation of that consent) in a manner that reasonably demonstrates that the consumer can access information in the electronic form that will be used to provide the information that is the subject of the consent