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Monday, November 21, 2016

ABA Supports Customer Data Collection Bill

ABA recently 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.

Read the letter.

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