Hultgren Sponsors Bipartisan Bill to Expand Banking Access in Rural Illinois
Washington, DC — U.S. Representative Randy Hultgren (IL-14) has again cosponsored the Making Online Banking Initiation Legal and Easy (MOBILE) Act of 2017 (H.R. 1457), aiming to improve access to banking services for families in rural Illinois and America.
“As the needs of banking customers change in the 21st Century, hardworking Americans—especially those with low and moderate incomes—need access to traditional banking services that may not be easily accessible in their communities,” said Rep. Hultgren. “I am proud to cosponsor the MOBILE Act, which will make it easier for my constituents to open a bank account from their mobile device.”
Opening a checking or savings account can be a complicated process for the many Americans who do not live near a bank. However, technology exists that would allow one to open a bank account by using a mobile device. The MOBILE Act would clarify existing federal law and solidify a uniform standard of compliance for mobile banking services. Banks would thereby be allowed to use a photograph of a state issued ID in order to verify a costumer’s identity and prevent fraud and other criminal activity.
The MOBILE Act has been referred to the House Committee on Financial Services, of which Hultgren is a member.