Farm Credit Administration Guidelines for Electronic Signatures
FARM CREDIT ADMINISTRATION (FCA)
The Farm Credit Administration (FCA or Agency) is an independent agency
in the executive branch of the U.S. Government. It is responsible for
regulating and examining the banks, associations, and related entities
of the Farm Credit System (FCS or System), including the Federal
Agricultural Mortgage Corporation (Farmer Mac). Originally created in
1933 by an Executive order of President Franklin D. Roosevelt, the
Agency derives its powers and authorities from the Farm Credit Act of
1971, as amended (Act).
12 CFR PART 609—ELECTRONIC COMMERCE (available here)
Sec. 609.905 Background. The Farm Credit Administration
(FCA) wants to create a flexible regulatory environment that
facilitates electronic commerce (E-commerce) and allows Farm Credit
System (System) institutions and their customers to use new
technologies. System institutions may use E-commerce but must establish
good business practices that ensure safety and soundness while doing so.
Sec. 609.910 Compliance with the Electronic Signatures in Global and National Commerce Act (Public Law 106-229) (E-SIGN).
Information is available online here.
§ 609.925 Definitions. (e) Electronic signature means an
electronic sound, symbol, or process, attached to or logically
associated with a contract or other record and executed or adopted by a
person with the intent to sign the record. Electronic signature describes a category of electronic processes that can be substituted for a handwritten signature.
Sec. 609.945 Records retention. Records stored electronically
must be accurate, accessible, and reproducible for later reference.
Sec. 609.950 Electronic communications. (a) Agreement. In accordance with E-SIGN, System institutions may communicate electronically in business, consumer, or commercial transactions. E-commerce transactions require the agreement of all
parties when you do business.