Consumers can check their balances, transfer funds and pay bills without leaving home.
Congress should provide uniform standards so that disclosures will be delivered to consumers under the same set of rules by all financial services providers. This legislation is a first step toward making on-line financial transactions practical. It puts Congress on record as committed to playing a leadership role in promoting electronic commerce while preserving and, indeed, enhancing consumer protections. Roukema, the bill's sponsor and chairwoman of the House Subcommittee on Financial Institutions, noted that the Federal Reserve and some other agencies have attempted to address electronic disclosure. Roukema said she supports such efforts and that they should be encouraged.