(Recording + Free Digital Download) Imaged Documents: What to Keep, What to Destroy, What Holds Up in Court?

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Imaged documents are prevalent on both the deposit side and the credit side of your financial institution. Every day, your institution processes numerous imaged checks and deposit records. Image technology can make transactions more convenient, but it also can complicate matters. Do you know the legal requirements for imaged checks? Which original documents must be retained and which can be destroyed? Not all imaged documents are treated the same under the law. Understanding the rules can protect your institution from costly mistakes.

HIGHLIGHTS
Review of the Electronic Signatures in Global and National Commerce Act (E-SIGN Act)
What is the distinction between an imaged document and an electronic signature?
When is an imaged document legally enforceable?
When do courts require the original document?
When can the original be destroyed after the document or check is imaged?
Can a third party require you to keep the original document after it has been imaged?
How do you properly protect and destroy electronically stored information?

TAKE-AWAY TOOLKIT
Sample document retention policy language that authorizes use of imaged documents
Special provisions to obtain consent from consumers for the use of imaged documents
Employee training log
Quiz you can administer to measure staff learning and a separate answer key

Attendance verification for CE credits provided upon request.

WHO SHOULD ATTEND? Both the deposit and the credit sides of your institution, including deposit and loan operations, officers, managers, auditors, compliance personnel, and others involved in document imaging, storage, and retrieval.

ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, Spencer Fane LLP, a partner where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.