ABA Supports Customer Data Collection Bill

ABA today wrote to Rep. Scott Tipton (R-Colo.) supporting a bipartisan bill that would allow banks — with a customer’s consent — to record personal information by swiping a customer’s driver’s license or personal identification card. Information could then be stored digitally by the bank and used to facilitate account openings or the addition of new products or services. The association noted that the bill, which is also co-sponsored by Rep. Terri Sewell (D-Ala.) and Rep. Randy Hultgren (R-Ill.), could help expand access to banking services for underbanked populations.


About Author

Monica C. Meinert is a senior editor at the ABA Banking Journal and VP for editorial strategy at the American Bankers Association, where she oversees ABA Daily Newsbytes.