PAPER Act

The PAPER Act would require banks and credit unions to offer consumers the option to receive paper copies of their monthly statements and prohibit them from making the use of their services conditional on consumers using only digital statements. It applies specifically to depository institutions and credit unions, ensuring consumers retain access to traditional paper statements if they prefer. The bill aims to protect consumer choice in how they receive financial communications, particularly for those who may lack reliable internet access or prefer physical records.

No official summary is available here. This one was written by AI from the bill’s text.