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Legislation

ADDITIONAL RELEVANT LEGISLATION

Identity Theft and Assumption Deterrence Act – the Confirm™ service reduces the exposure to both fraudulent requests and fraudulent responses, thereby serving to protect the interests of your client.

Fraud and False Statements Act – Capital Confirmation’s patent-pending process reduces the exposure to both fraudulent requests and fraudulent responses within the confirmation process, protecting the interests of your client.

Gramm-Leach-Bliley Act – Enacted to protect your client’s privacy and the privacy of their information and to address the question of who should have legal access to that information. The intent of the legislation was focused on individual consumers, but many institutions also apply the principles of the Act to commercial clients as well. Where paper forms are easily lost, misplaced or delivered to the wrong person, Capital Confirmation’s secure process ensures that only client authorized individuals have access to their information.

Fair Credit Reporting Act (15 U.S.C. 1681 et seq.) – unlike the paper-based confirmation process, Confirm™ serves as a retraceable record, documenting all requests for and responses to private client information, ensuring that your interests are protected.

Electronic Signatures in Global and National Commerce Act (E-Sign Act) – Capital Confirmation’s service was recently strengthened by the E-Sign Act which determined that:

  • A signature, contract, or other record relating to such transaction may not be denied legal effect, validity, or enforceability solely because it is in electronic form; and
  • A contract relating to such transaction may not be denied legal effect, validity, or enforceability solely because an electronic signature or electronic record was used in its formation. 15 U.S.C. 7001(a).

Uniform Electronic Transaction Act ("UETA") - The E-Sign Act allows states to enact statutes governing the use of electronic records and signatures, and many have done so. Several have adopted the UETA, promulgated by the National Conference of Commissioners on Uniform State Laws. However, the adoption of state laws, whether they be versions of UETA or stand-alone statutes, cannot limit the basic thrust of the general provision of E-Sign giving effect to electronic signatures and records.