Prohibits financial institutions and credit card issuers from charging fees for paper statements.
Prohibits financial institutions and credit card issuers from charging an additional fee when a customer chooses to receive a paper account statement. The bill allows institutions to offer incentives for choosing other methods of statement receipt. Violations are considered anticompetitive or deceptive practices and are subject to enforcement. This change aims to protect consumers by ensuring they are not penalized for preferring paper statements.
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