Senators introduce bill to update e-signature requirements

Sens. John Thune (R-S.D.), Jerry Moran (R-Kansas), Todd Young (R-Ind.), and Marsha Blackburn (R-Tenn.) introduced the CUNA and League-supported E-SIGN Modernization Act Tuesday.

The bill would remove the requirement in the Electronic Signatures in Global and National Commerce Act requiring consumers to reasonably demonstrate their ability to access information electronically prior to consenting to electronic records.

“Enhancing consumer access to online services will ensure financial institutions can continue to meet consumer needs while taking advantage of digital advances,” said President/CEO Jim Nussle. “We thank the Senators for their leadership on this bill, which would increase financial access. introducing this bill to help balancing community health with financial well-being.”

CUNA supported the bill in the previous Congress, where it was passed by the Senate Commerce Committee.