Document Scanning Compliance

The Check Clearing for the 21st Century Act (Check 21) or regulation CC (12 C.F.R. Part 229)

was enacted by the Federal Reserve System to foster the transition from paper-based to image-based check processing to improve the efficiency of the nation’s payment system. The capabilities of having secure digital documents help banks comply with Check 21.

   The Family Educational Rights and Privacy Act (FERPA) is a Federal law that protects the privacy of
  student educational records, providing parents and adult students certain rights and control over the
  disclosure of the information. The capabilities of secure digital documents facilitate FERPA compliance
  while enabling schools to reduce records management costs.

  The Federal Rules of Civil Procedure (FRCP) govern all civil actions and proceedings in the U.S. district
  courts. Effective as of December 2006, FRCP amendments make every company involved in lawsuits and
  federal litigation legally responsible for preserving and recovering electronic documents and email
  messages as part of legal discovery. Companies of every size and across any industry can use document scanning solutions to reduce the time, cost and burden of locating and reproducing electronically stored information, while at the same time improve operational efficiency and employee productivity.

The Financial Modernization Act of 1999, also known as the Gramm-Leach-Bliley Act (GLBA), opened competition among financial institutions, including banks, securities companies and insurance providers. It allows commercial and investment banks to consolidate and includes provisions that govern the collection, disclosure and protection of consumers’ nonpublic or personally identifiable information. Secure digital documents capabilities enable financial institutions to fulfill GLBA requirements and protect customer information.

The Health Insurance Portability and Accountability Act (HIPAA), issued in 1996 by the United States federal
government, sets standards for the electronic exchange of healthcare data, regulates the security and privacy of
personally identifiable information and requires providers to use national identification systems for patients,
providers, payers and employers. Healthcare providers use secure digital records to improve the security and
efficiency of their healthcare system while saving time and money.

The Payment Card Industry Data Security Standard (PCI DSS), a cohesive policy designed to help merchants
protect credit card account information and prevent credit card fraud. Today, businesses leverage the capabilities
of document scanning to assist in building and maintaining compliant practices.

The Sarbanes-Oxley Act of 2002 (SOX or Sarbox), is a U.S. federal law designed to combat accounting fraud, improve financial disclosures and increase corporate responsibility. Companies leverage the extensive security settings, disclosure tracking and system auditing capabilities of scanning technology to build confidence in their SOX compliance strategy.

The U.S. Securities and Exchange Commission (SEC) Rules 17a-3, 17a-4 and 17ad-7 were implemented under the Securities Exchange Act of 1934 and outline records archiving rules for the securities industry. In years past, these SEC rules covered only paper records, but today, they include electronic documents as well. Businesses use the extensive features of document scanning to enhance their SEC 17 compliance strategy and gain competitive advantage.