Bill > ACR71

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 started charging fees for paper statements, and while some customers can easily access their information online, many seniors do not use computers or electronic devices regularly and therefore struggle to obtain their statements. The resolution highlights that while a New Jersey state bill aimed to address this issue for state-regulated institutions, federal law currently allows these fees, necessitating federal legislative action to ensure seniors can receive their important financial information in a paper format without being charged.