CONGRESSWOMAN ELISE STEFANIK
On Monday, September 12, 2016, the House will consider H.Res.835, Expressing the sense of the House of Representatives that the United States should adopt a national policy for technology to promote consumers’ access to financial tools and online commerce to promote economic growth and consumer empowerment, under suspension of the rules. The resolution was introduced on July 14, 2016 by Rep. Adam Kinzinger (R-IL) and was referred to the Committee on Energy and Commerce.
H.Res. 835 includes the following resolved clauses:
The United States is the world leader in software development and technology creation. New technology solutions have the potential to improve consumers’ ability to control their economic well-being, encourage financial literacy, and improve their knowledge base and increase their options to manage their finances and engage in commerce.
While financial technology has created new opportunities for 24.8 million underbanked households in the United States and the growth in use of mobile devices and deployment of broadband access has increased commerce and job growth, challenges have arisen. Identify theft is a developing concern for millions of Americans and cyberattacks against domestic and international financial institutions are continuing at an alarming pace.
Emerging payment options and blockchain technology have the potential to improve security and fundamentally change the manner in which trust and security are established in online transactions.
A Congressional Budget Office cost estimate is not available at this time.
For questions about amendments or further information on the bill, contact Jake Vreeburg with the House Republican Policy Committee by email or at 5-0190.