House Passes ABA-Advocated Bills on HOLA Flexibility, Mobile Account Opening

The House tonight approved two ABA-advocated bills. The bills are:

  • H.R. 1426, a bipartisan bill that would provide greater flexibility to banks chartered under the Home Owners’ Loan Act. The bill was introduced by Reps. Keith Rothfus (R-Pa.) and Jim Himes (D-Ct.).
  • H.R. 1457, which would facilitate mobile account opening and other digital account procedures requiring photo IDs. The bill was introduced by Reps. Scott Tipton (R-Colo.), Randy Hultgren (R-Ill.), Patrick McHenry (R-N.C.), Terri Sewell (D-Ala.), Kyrsten Sinema (D-Ariz.) and David Scott (D-Ga.).

Both of them cleared the House Financial Services Committee in unanimous votes over the past few months.