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Right to Paper Bank Statements: Ending Digital-Only Requirements

This new law ensures that banks and credit unions must offer customers the option of receiving paper monthly statements. This means financial institutions can no longer force customers to use only digital statements or make service access dependent on agreeing to paperless options. Citizens gain more freedom in choosing how they receive important financial information.
Key points
Banks and credit unions must offer paper monthly statements.
Services cannot be conditioned on digital-only statements.
Consumers have the right to choose their statement format.
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Expired
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Additional Information
Print number: 118_HR_6777
Sponsor: Rep. Turner, Michael R. [R-OH-10]
Process start date: 2023-12-13
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

PAPER Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6777.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-12-13.

What are the main provisions?

Key points include:

  • Banks and credit unions must offer paper monthly statements.
  • Services cannot be conditioned on digital-only statements.
  • Consumers have the right to choose their statement format.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Turner, Michael R. [R-OH-10].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy