When may Reg DD disclosures be provided electronically?

The correct answer is that Reg DD disclosures may be provided electronically after obtaining the consumer's consent. This aligns with the requirements of the Truth in Savings Act (TISA) and Regulation DD, which stipulates that financial institutions must secure a consumer's consent before offering electronic disclosures. This ensures that consumers are aware of and agree to receive information in a digital format, which is essential for maintaining transparency and fostering trust in the banking relationship.

By obtaining consent, the institution confirms that the consumer acknowledges the potential risks and benefits of electronic communication, such as the ability to access information conveniently while also understanding that they may need certain technologies or skills to do so. It is a customer-friendly approach that emphasizes informed consent, thereby enhancing the accountability and reliability of the disclosures made under TISA.

Regarding electronic statements, simply opting in may not cover all disclosure requirements set forth in Regulation DD, and without obtaining explicit consent, an institution cannot assume that a consumer is ready to receive disclosures in this format. Hence, consumer consent serves as a foundational element in the use of electronic disclosures under Reg DD.