What is a requirement for banks when using electronic disclosures?

When banks use electronic disclosures, one core requirement is to keep a record of consumer consent. This means that banks must obtain permission from consumers to send them disclosures electronically instead of through traditional paper methods. This consent must be documented to ensure compliance with the regulations and to protect consumer rights.

Maintaining a record of consent is important because it not only serves as proof that the consumer agreed to receive disclosures electronically but also ensures that the bank can demonstrate compliance with the Truth in Savings Act and other relevant regulations. This step is critical in the event of disputes regarding the delivery of information or changes in terms that were communicated digitally.

The other options pertain to different aspects of electronic disclosures but are not requirements under the Truth in Savings Act. For example, while having internet access is beneficial, it is not a mandated requirement for all recipients. Similarly, prior warnings before changes are not specified, and delivering changes in person is contrary to the electronic disclosure approach. These distinctions help clarify why keeping a record of consumer consent is the correct answer.