Bill > ACR68

This Concurrent Resolution urges the President and Congress of the United States to pass a law that would require banks and other financial institutions regulated by the federal government to send paper account statements to older adults, also referred to as "elder adults," at no cost. This action is proposed because many financial institutions have stopped providing free paper statements, opting for electronic ones, which can be difficult for seniors who may not be comfortable using computers or electronic devices. The resolution highlights that while a state law was introduced to address this issue for state-regulated institutions, federal law currently allows these institutions to charge for paper statements, necessitating federal action to ensure all seniors can easily access their account information.