Maine LD580 prohibits financial institutions and credit card issuers from charging fees for paper statements.
Maine LD580, passed in 2025, prohibits financial institutions and credit unions in Maine from charging customers additional fees for choosing to receive paper account statements. This law ensures consumers are not penalized for preferring paper over digital statements. Credit card issuers are also barred from imposing extra fees for paper statements, though they may still offer incentives for digital options. Violations are treated as anticompetitive or deceptive practices, subject to enforcement and penalties.
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- Critical Issues
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