As mentioned in the "ESI Trends" report by Kroll Ontrack (resources), there is a severe lack of understanding, preparedness, and enforcement by organizations regarding how to manage their ESI and the need for an electronic evidence strategy. Less than half of companies have a policy in place on how to deal with ESI in litigation, investigations, and regulatory matters.
We designed our ESI Compliance for Credit Unions program following the Kroll Ontrack guidelines. In this program, we address the specific credits unions' needs, which includes HIPAA, Fair Credit Reporting Act, and rule 748 .
Our program addresses both the technical and the legal aspects of ESI compliance. It achieves the following goals:
- establish an overall ESI policy;
- clarify roles: who establishes policy, who implements it, and who is accountable in case of failures;
- help the general counsel to keep up-to-date with all relevant regulations;
- educate and assist the technical personnel with policy implementation.