To provide for the recognition of digital and other forms of authentication as an alternative to existing paperbased methods, to improve efficiency and soundness of the Nation's capital markets and the payment system, and to define and harmonize the practices, customs, and uses applicable to the conduct of electronic authentication, and for other purposes.
Electronic Financial Services Efficiency Act of 1997 - Provides that: (1) in any written communication with any Federal agency or instrumentality, or any U.S. court, which calls for a signature, any party to the communication may affix a digital signature with a certificate issued by a trusted third party; and (2) all forms of electronic communication that comport with the standards prescribed by this Act shall have standing equal to paper-based written signatures with respect to Federal agencies, courts, and instrumentalities, as well as in general.
Sets forth criteria for electronic authentication technology and other signature technologies.
Establishes the National Association of Certification Authorities (Association), of which any person wishing to provide electronic authentication services shall be a registered member. Prescribes membership guidelines. Requires the Association to establish the Electronic Authentication Standards Review Committee, with rulemaking and enforcement powers, which shall: (1) establish, develop, and refine criteria for application to the emerging electronic authentication industry; and (2) report biannually to the Secretary of the Treasury.
Requires the Secretary to oversee and review the Committee's activities.
Introduced in House
Introduced in House
Referred to the Committee on Commerce, and in addition to the Committees on Government Reform and Oversight, the Judiciary, Science, and Banking and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to House Commerce
Referred to House Government Reform
Referred to House Judiciary
Referred to House Science
Referred to House Banking and Financial Services
Sponsor introductory remarks on measure. (CR E2292-2293)
Referred to the Subcommittee on Technology.
Referred to the Subcommittee on Finance and Hazardous Materials.
Referred to the Subcommittee on Telecommunications, Trade, and Consumer Protection.
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Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Referred to the Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises.
Referred to the Subcommittee on Courts and Intellectual Property.