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House Proposal Could Streamline Banking
On Friday, March 10, 2017, CBA sent a letter of support to Reps. Scott Tipton (R-CO), Randy Hultgren (R-IL), Patrick McHenry (R-NC), Terri Sewell (D-AL), David Scott (D-GA) and Kyrsten Sinema (D-AZ). The lawmakers re-introduced H.R. 1457 – the Making Online Banking Initiation Legal and Easy (MOBILE) Act of 2017, which would provide the opportunity for consumers to open bank accounts in every state without having to visit a branch while also maintaining safety and soundness. In a press statement, CBA President and CEO Richard Hunt applauded the bill, touting it as another step in supporting banking innovation to the benefit of consumers.