President Obama late Thursday vetoed a bill that was designed to facilitate electronic mortgages and e-commerce. The veto arose in the wake of fears that language in the legislation would make it easier for servicers to get foreclosures approved by the courts.

The bill (H.R. 3808) is called the Interstate Recognition of Notarizations Act and requires state and federal courts to recognize paper or electronic documents with seals from out-of-state notaries.

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