To prohibit covered entities from requiring consumers to solely use digital monthly statements, and for other purposes.
Summary
What This Bill Does
The bill requires covered entities – depository institutions and credit unions – to offer consumers the option of receiving paper copies of their monthly statements and prohibits conditioning services on the sole use of digital and requires covered entities (depository institutions and credit unions) to offer paper statements and prohibits conditioning services on digital-only statements. It relies on definition changes and compliance mandates. The main policy areas are Finance.
Who Benefits and How
Consumers of depository institutions and credit unions could face fewer barriers.
Who Bears the Burden and How
Depository Institutions and Credit Unions would take on compliance duties.
Key Provisions
- Requires covered entities – depository institutions and credit unions – to offer consumers the option of receiving paper copies of their monthly statements and prohibits conditioning services on the sole use of digital...
- Requires covered entities (depository institutions and credit unions) to offer paper statements and prohibits conditioning services on digital-only statements.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill requires covered entities – depository institutions and credit unions – to offer consumers the option of receiving paper copies of their monthly statements and prohibits conditioning services on the sole use of digital and requires covered entities (depository institutions and credit unions) to offer paper statements and prohibits conditioning services on digital-only statements.
Key Policy Areas
Finance
Primary Purpose
The bill requires covered entities – depository institutions and credit unions – to offer consumers the option of receiving paper copies of their monthly statements and prohibits conditioning services on the sole use of digital and requires covered entities (depository institutions and credit unions) to offer paper statements and prohibits conditioning services on digital-only statements.
Policy Domains
Whole bill
Identified Gains
- Consumers of depository institutions and credit unions
Identified Costs
- Depository Institutions and Credit Unions
Legislative Progress
IntroducedMr. Turner of Ohio introduced the following bill; which was …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Consumers of depository institutions and credit unions, Depository institutions and credit unions
Positive-direction: Consumers of depository institutions and credit unions
Negative-direction: Depository institutions and credit unions
Consumers of depository institutions and credit unions
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology