Senate Notarization Bill Could Simplify Digital Business
Financial services groups support retaining and expanding access to online notarizations. The Insured Retirement Institute, for example, put support for SECURE Notarization Act legislation in its 2023 Federal Retirement Security Blueprint.
SECURE Notarization Act
S. 1212 was introduced last month by Sen. Kevin Cramer, R-N.D., and co-sponsored by Sen. Mark Warner, D-Va. It’s similar to S. 3533, a bill introduced in the 116th Congress, and S. 1625, a bill introduced in the 117th Congress.
The bill would require every state to recognize notarizations conducted under other states’ rules, and it would keep a state from banning use of remote online notarizations in matters involving interstate commerce.
Security
Some groups, including the Electronic Frontier Foundation and the California League of Independent Notaries, say bills like S. 1212 could increase the risk of identity theft by limiting states’ ability to impose tough notary registration and oversight standards.
Financial services groups and companies such as DocuSign say modern identity verification technology can make online notarizations at least as secure as in-person notarizations.
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