Secure Online Fax for Michigan Financial Institutions
Michigan banks, credit unions, mortgage lenders, and investment firms keep a lot of their document flow on fax: loan applications, wire authorizations, account maintenance forms, and correspondence with regulators. A faxed document carries a dated record of delivery, which is useful when an examiner needs to trace exactly what was sent and when.
Regulations & Compliance
State-chartered banks and credit unions in Michigan are supervised by the Department of Insurance and Financial Services, while nationally chartered institutions report to the OCC and FDIC. The federal Gramm-Leach-Bliley Act sets the standard for safeguarding customer financial information, and Michigan adds its own consumer financial privacy requirements. Encrypted fax transmission with retained logs helps an institution show it protected nonpublic information while it was in transit.
Key Institutions
- • Michigan Department of Financial Institutions
- • Michigan Banking Association
- • Michigan Credit Union League
- • MI Division of Securities