OCC Advisory Letter on Banks and Electronic Records Retention

by Sabrina I. Pacifici on June 23, 2004

OCC Advisory Letter on Electronic Record Keeping, June 21, 2004:

  • “This advisory letter highlights issues regarding bank electronic record systems in light of the E-SIGN Act. 15 USC 7001, et seq. The letter provides a basic framework that bank management can use to assess and address key issues posed by electronic record keeping systems.”
  • “…For example, the Act does not ensure admissibility of electronic records in litigation. This is important because the practical effect of having electronic records that are not admissible into evidence in judicial proceedings may be to render the electronic contract or record effectively unenforceable.”
  • Posted in E-Records

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