New Jersey S2787 requires banks to mail paper account statements to elder adults unless they opt out.
New Jersey S2787 mandates that banks, savings banks, savings and loan associations, or credit unions must mail periodic paper account statements to elder adults without charge. An "elder adult" is defined as an individual who is at least 65 years of age. A "periodic account statement" is a written statement provided on a regular basis at the end of each periodic cycle by a depository institution to an account holder that reflects all debits and credits to an account held by the account holder during a periodic cycle.
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