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Technology Stocks : INTERFACE SYSTEMS (INTF) GETTING INTO EBPP? -- Ignore unavailable to you. Want to Upgrade?

To: David H. Zimmer who wrote (173)	8/19/1999 12:13:00 PM
From: TLindt	Respond to of 1203

Fed OKs interim rule allowing electronic notices from banks Thursday, August 19, 1999 The Federal Reserve Board approved on Wednesday an interim rule that could put an end to the monthly bank statement that arrives in the mail, to be replaced by an electronic version. In a 5-0 vote, the Fed voted to allow banks to send periodic customer account statements in electronic form and proposed a framework for other disclosures to be delivered electronically as well. For banks, allowing the "fine print" of customer transactions to be delivered by e-mail or on the Web could save money and time. For consumers, electronic delivery could ease paperwork hassles but also raises questions of consumer awareness and possible abuse. Fed Governor Edward Gramlich described the proposed electronic disclosure rules as an attempt to tread a middle path between competing business and consumer interests. After the rules were originally proposed in March 1998, banking trade groups said they did not give enough guidance in allowing banks to substitute cheaper electronically delivered materials, and consumer advocacy groups worried about the potential for abuse. "Overall, the modified proposal tries to balance the various concerns," Gramlich said. The interim rule, to become effective when published in the Federal Register, broadens the authority for banks to electronically deliver routine periodic account statements and disclosures. Previously, electronic delivery had been limited to disclosures involving electronic fund transfers. "The board believes that, in addition to reducing paperwork and costs for institutions, the interim rule may benefit many consumers by allowing them to receive their periodic account statements, including required disclosures, more quickly and in a more convenient form," the Fed said. Other, less routine disclosures, such as account-opening notices and change-in-terms notices, would be addressed by the proposed rules issued for comment Wednesday. Under the proposal, banks could deliver disclosure information by sending it to an e-mail address specified by the customer or by making it available on the bank's Web site. Institutions would have to identify what types of disclosures would be affected and the address or location where the disclosures could be found and technical requirements for receiving and retaining the information. They'd also provide a means for customers to respond affirmatively that they've agreed to electronic delivery. Banks that post disclosure information on their Web sites would have to separately notify customers when the information was posted. Consumers signed up for electronic delivery would be able to respond in kind. For example, customers could give notice of an error in their account via e-mail, instead of having to send a paper notice. Some transactions usually done in person would still be required to be approved in writing, such as mortgage loan closings, auto loans and leases and door-to-door credit sales. The Fed seeks comments on the proposals by Oct. 29. While the Fed moves ahead with possible rules, Congress could still get involved in the process. accessatlanta.com Great time to start a Marketing Program I'd say.

To: David H. Zimmer who wrote (173)	8/20/1999 12:32:00 PM
From: vampire	Read Replies (1) \| Respond to of 1203

What would it take for this company to get some coverage by the street?

To: David H. Zimmer who wrote (173)	8/21/1999 12:48:00 AM
From: JTinker	Read Replies (1) \| Respond to of 1203

>>>> Give my best to your friend. Hope he beats the odds, regardless he and his family have you and your family as friends. I would be happy with that if it were me.<<<< Tell ya what Dave, I hope someday we can all meet. I've known TL nearly all my life and its small town here. We all look out for each other. Started back some 50 years ago with his Grandpa and my Dad. Can't let that go by the wayside. I learn from him.. He learns from me.. Just that we specialize in different areas. Ask him when you see him He'll tell ya. I must confess being a "hobby" investor aint easy. But if were not for TL and Auggie West I would not have gotten into this groove. Would be nice to go to NYC but will sit on the bench for a while..... Its for the best that way.