Federal legislation wouldn’t allow banks to ditch paper records

By Thomas Gnau
Dayton Daily News
July 25, 2025
Category: Wood, Paper & Green Building
Region: United States

If some banks or financial institutions have long been poised to abandon paper records, a representative to Congress is saying “Not so fast. US Rep. Mike Turner, R-Dayton, said he reintroduced his “Protecting Against Paperless and Electronic Requirement (PAPER) Act” recently. This legislation would prohibit financial institutions from abandoning paper records to use electronic bank statements. For many years, banks would print and mail monthly bank statements to all customers. For a while now, though, paper bank statements have been replaced by electronic statements. …The PAPER Act would bar financial institutions from restricting services based on a customer’s preference for paper statements, making certain that all Americans can participate in our banking system in a way that works best for them.” …In March, President Trump signed an executive order mandating that the federal government shift from paper-based payments to electronic payments.

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