NDBA, State Banking Associations Urge Congress to Modernize E-Sign Law

Posted: Aug 12 2020

NDBA joined 50 state banking associations on a letter last week asking Senate leaders to include a bill, S. 4159, to modernize the E-Sign law in the next COVID relief package. The legislation, which was originally filed by Sen. John Thune (R-SD), updates the process by which consumers consent to receiving electronic documents.

As the letter notes, the E-Sign Act is now 20 years old and there have been significant advances in technology during that period. To better reflect consumer behavior and preferences, S. 4159 eliminates the requirement that consumers demonstrate they can access documents electronically prior to receiving them. The letter also states that, “Because of temporary branch closures, concerns about postal mail, and other factors, more Americans are asking to use digital channels to work with their bank.”

To read more, visit: www.ndba.com/uploads/48/StateBankerAssociationLetterSupportingESignLegislation.pdf