Digital Signature and Electronic Authentication Law (SEAL) of 1998

Summary

Digital Signature and Electronic Authentication Law (SEAL) of 1998 - Amends the Bank Protection Act of 1968 to authorize a financial institution to use electronic authentication in business transactions if it has entered into an agreement to do so with a counterparty, or has established a banking, financial or transactional system using electronic authentication. Empowers the appropriate Federal or State bank supervisor to preclude the use of electronic authentication if it determines that such use is inconsistent with or threatens the safety and soundness of the institution. Prohibits a State government, agency, or instrumentality from acting as digital certification authority or imposing fees with respect to electronic authentication services. Requires the Board of Governors of the Federal Reserve System to report to the Congress on the use of electronic authentication, including certain considerations regarding consumer protections, and the international use of electronic authentication by financial institutions.

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Timeline

1. 2 February 1998

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

2. 2 February 1998

   Introduced

   Sponsor introductory remarks on measure. (CR S271)

   Source: IntroReferral

3. 2 February 1998

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 11 March 1998

   Committee

   Subcommittee on Finance and Technology. Hearings held.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 2 February 1998 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 2 February 1998

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 2 February 1998

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 2 February 1998

  Open at official source

Sponsors

• Sen. Bennett, Robert F. [R-UT] · R · Sponsor
• Sen. McCain, John [R-AZ] · R · Cosponsor
• · ssbk00 · Standing

Related records

• related to → Digital Signature and Electronic Authentication Law (SEAL) of 1998