House Approves Remote Notary Bill
The SECURE Act would establish nationwide standards and technical requirements for remote online notarization and allow a notary public commissioned under state law to remotely notarize electronic records and perform notarizations for remotely located individuals.
The bill would also require U.S. courts and states to recognize remote notarizations, including remote notarizations from notary publics commissioned in other states or U.S. territories, that occur in or affect interstate commerce.
Current law requires a signer to physically be in the presence of a notary. This requirement is often impractical, costly or even completely unworkable because of ongoing social distancing constraints in some communities resulting from COVID-19, as well as other barriers including military service or work travel that prevents face-to-face interactions.
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Latest Economic News
The percentage of new apartment units that were absorbed within three months after completion was down five percentage points in the first quarter, according to the Census Bureau’s latest release of the Survey of Market Absorption of New Multifamily Units (SOMA).
New single-family home size had been falling since 2015 in response to declining affordability conditions. An exception occurred in 2021, when new home size increased as interest rates reached historic lows.
The latest report shows the Federal Reserve’s preferred inflation gauge remains sticky in July, complicating the Fed’s path to its long-term 2% target. Meanwhile, consumer spending remains resilient but is showing signs of slowing, with real consumer spending unchanged in July. Households are pulling back on spending amid persistent inflation.