An Act To Protect Maine Consumers By Prohibiting Fees Charged For Receiving Paper Statements From Financial Institutions And Credit Card Issuers

LD 580 prohibits Maine financial institutions and credit card issuers from charging customers an extra fee for choosing to receive paper account statements instead of digital ones. It directly affects all Maine consumers who use bank accounts or credit cards issued by entities authorized to operate in the state. The bill allows institutions to offer incentives (like rewards or discounts) for selecting digital statements but bans fees specifically tied to paper statement delivery. This policy change applies immediately to all covered financial institutions and credit card issuers operating within Maine.