What is the Electronic Signatures in Global and National Commerce Act?

The Electronic Signatures in Global and National Commerce Act, also known as the E-Sign Act, is a federal law passed in the United States in 2000. The E-Sign Act was designed to ensure that any transaction which requires a signature can be legally conducted over the internet. The law also makes sure that electronic records and signatures cannot be denied legal validity solely because they are in a digital format. The E-Sign Act applies to any type of transaction, including those in banking, finance, and retail. In Oregon, the E-Sign Act ensures that any banking transactions, such as opening up an account or applying for a loan, can be conducted online without the need for a physical signature. This means customers can easily manage their accounts from the comfort of their homes, and banks can expedite account processing. In addition to banking transactions, the E-Sign Act also applies to contracts, wills, and other documents that require a signature. The law states that electronic records and signatures can be used for most types of legal agreements, as long as the customer has provided informed consent. This means customers have the right to refuse to sign an agreement electronically and can choose instead to use a physical signature. Overall, the E-Sign Act provides both customers and banks with a way to conduct business transactions conveniently and securely online. This law has enabled Oregonians to effectively and confidently manage their finances remotely.

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What is the Electronic Signatures in Global and National Commerce Act?

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