PAPER Act

Bill: 118-hr-6777
Sponsor: full_name: Rep. Turner, Michael R. [R-OH-10]
Introduced: 2023-12-13
Policy area: Finance and Financial Sector
Latest action: action_date: 2023-12-13
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2023-12-13
action_desc: Introduced in House
text: <p><strong>Protecting Against Paperless and Electronic Requirements Act or the PAPER Act</strong></p><p>This bill requires depository institutions and credit unions to offer customers the option of receiving monthly paper statements. Depository institutions and credit unions are prohibited from requiring monthly digital statements as a condition of any service.</p>

tv_txt: I 118th CONGRESS 1st Session H. R. 6777 IN THE HOUSE OF REPRESENTATIVES December 13, 2023 Mr. Turner introduced the following bill; which was referred to the Committee on Financial Services A BILL To prohibit covered entities from requiring consumers to solely use digital monthly statements, and for other purposes.

1. Short title This Act may be cited as the Protecting Against Paperless and Electronic Requirements Act or the PAPER Act . 2. Requirement (a) In general Each covered entity shall offer each consumer of such entity the option of receiving paper copies of their monthly statements. (b) Prohibition A covered entity may not condition the use of any services offered by such entity on the sole use of digital monthly statements by a consumer. (c) Definitions (1) Depository institution The term depository institution has the meaning given the term in section 3 of the Federal Deposit Act. (2) Credit union The term credit union has the meaning given the term in section 101 of the Federal Credit Union Act. (3) Covered entity The term covered entity means a depository institution or a credit union.