Venkat, Matzie and Mehaffie introduce legislation to eliminate print statement fees

Rep. Arvind Venkat, Rep. Robert F. Matzie    January 14, 2025 | 1:31 PM

HARRISBURG, Jan. 14 – State Reps. Arvind Venkat, Rob Matzie and Tom Mehaffie have introduced legislation that would ban entities from assessing an additional fee to customers who request a print version of a financial statement.

Such fees are as high as $5 per month, and H.B. 81 would also specify that any person or entity would still be allowed to create incentives for a consumer to select an alternative to a paper statement.

“In effect, penalizing consumers for a peace of mind measure such as a paper statement runs contrary to keeping a readily accessible means to one’s financial data for a variety of necessary purposes,” said Venkat, D-Allegheny. “Our bill would help keep more dollars in the pockets of Pennsylvanians and reward entities for pursuing options more beneficial to the health and livelihood of the environment.”

“No consumer should ever have to pay for a print copy of their bank or credit card statement. Tacking on fees for paper statements takes a simple business expense easily borne by the financial institution and shifts it unfairly onto consumers, where it can take a toll on those who are elderly, low-income, or simple lacking the needed access to technology,” said Matzie, D-Beaver. “By prohibiting these fees, our bill would ensure that any expenses remain with the party best able to bear them – the business that maintains the records.”

“Charging fees for consumers who want to use paper statements is an unnecessary, frustrating burden that becomes a tax on regular Pennsylvanians,” said Mehaffie, R-Dauphin. “Many people I know still prefer to sit down at the kitchen table with a paper statement, a pen and their checkbook.”

Federal law allows companies to switch customers to electronic statements, but consumers must give their explicit consent to do so. Federal law is silent on the issue of whether consumers can be asked to pay to continue paper statements.