Public Policy Initiatives
VALUE STATEMENTS (EFFECT ON ESRA MISSION)
- BLOCKCHAIN: CONSISTENT POLICIES
Opportunity (future state): Focus on blockchain by Congress and legisaltures provides an OPPORTUNITY to create awareness of ESRA principles among decision-makers on issues involving
crypto currencies and smart contracts.
Threat (future state): State legislatures are considering bills that amend UETA and seek to redefine key components of technology neutrality.
- ELECTRONIC WILL LEGISLATION: SUPPORT UNIFORM STATUTES
Opportunity (future state): Introducing uniform, technology-neutral legislation to support electronically enabled will and codicil execution creates an OPPORTUNITY to advance the ESRA
mission of broader adoption and acceptance of electronic signatures and records, by adding a legal foundation for a use case that is not covered by ESIGN and UETA.
- E-ODOMETER: ENSURE REASONABLE FEDERAL STANDARDS
Opportunity (future state): Electronic processing of odometers, and eventually titles, will significantly decrease fraud and serve commerce as states adopt these programs.
- FEDERAL HOME LOAN BANKS: ACCEPT E-SIGNED LOANS AS COLLATERAL
Opportunity (future state): Opportunity for ESRA to advance its mission by gaining additional acceptance of eSignatures in Government / Banking
- E-NOTARY/RON: UNIFORM RULES, UNIVERSAL ACCEPTANCE
Opportunity (future state): Widespread adoption of electronic notarization among the states extends the use of electronic signatures in sectors where the use of notarized documents is either statutorily required or considered a best practice. For ESRA, it presents an OPPORTUNITY to advance its mission as the preeminent authority on electronic
Threatens (future state): While the recent activity surrounding remote online notary (RON) can be considered an opportunity to further promote the adoption of electronic
signatures and records, the current situation presents a THREAT to future adoption because it is likely to result in a patchwork of nonuniform laws
that will reduce acceptance of notarized documents between the states, and perhaps even create a two-tiered system that treats electronic notarial acts
as less reliable.
- IRS E-SIGNATURE POLICY: ENSURE REASONABLE STANDARDS
Threatens (future state): Recent pronouncements by Chief Counsel and ongoing work on in-house solutions THREATEN the adoption of electronic signatures and records by potentially
disallowing them in all instances other than those transactions initiated or supported by IRS information technology systems.
- FEDERAL RESERVE BANKS: ACCEPT OF E-SIGNED COMMERCIAL LOANS AS COLLATERAL
Weakens (current state): Lack of clarity in the FRBs’ policies toward electronic chattel paper means smaller lenders are less likely to adopt electronic processes for these kinds of transactions.
- VEHICLE TITLING AGENCIES (VTL): ACCEPTANCE OF E-SIGNED POWER OF ATTORNEY
Opportunity (future state): This opportunity falls within the ESRA Mission. This proposal requires educating state agencies that electronic signatures and electronic records will significantly
decrease fraud and serve commerce as states adopt these programs. E-POA is a subset of eOdometer and eTitle.