This paper discusses issues of assessment, accountability, and preservice teacher preparation using electronic portfolios (e-portfolios). It discusses criteria for portfolio design and trends in e-portfolio use to collect evidence of the competencies of preservice teachers that are related to teaching standards. The paper also discusses the differences between e-portfolios and online assessment management systems designed for accountability purposes related to teaching standards. In addition, it describes efforts to create an online Clearinghouse on Electronic Portfolio and Performance Assessment in Teacher Education to disseminate promising practices. Data are presented about the advantages and disadvantages of selected e-portfolio models and the progress made in some e-portfolio programs. (SLD)