PAPER Act

This bill says banks and credit unions must offer customers the option to get paper monthly statements. They cannot force you to use only digital statements to keep using their services.

“Covered entities” in this bill are depository institutions and credit unions. The text does not list penalties or an effective date; it simply requires offering paper statements and bans “digital-only” requirements.

• Who is affected: Customers of banks and credit unions, and those institutions themselves.
• What changes: You must be given a paper-statement option, and services can’t depend on digital-only statements.
• When: The provided text does not state when this would take effect.