House Passes Notarization Bill by Voice Vote

Members of the U.S. House approved a remote online notarization bill Monday by a voice vote.

H.R. 1059, the Securing and Enabling Commerce Using Remote and Electronic Notarization Act bill, will now face consideration in the Senate.

The bill would set national standards for online notarizations and let consumers in one state use notaries in another state for transactions that involve interstate commerce.

Critics at groups such as the Electronic Frontier Foundation had argued that antifraud provisions in the bill are too weak.

The Insured Retirement Institute and many other financial services groups have backed the measure.

Today, consumers often have to use in-person notary services to complete transactions such as changing life insurance, annuity or retirement plan beneficiaries.

Paul Richman, an IRI executive, said the bill would ensure that a notary could use existing identity verification tools.

“The bill will ensure businesses can continue to engage in interstate commerce, to provide individuals with access to the financial products and services needed to provide security in retirement,” Richman said.

(Photo: Diego M. Radzinschi/ALM)