Gov. Janet Mills (D) has signed a bipartisan bill into law prohibiting banks from charging customers a fee for opting to receive paper statements.
Originally sponsored by a bipartisan group of legislators, LD 580 was ultimately approved by substantial majorities in both the House and the Senate.
Although Maine state law currently prohibits businesses from penalizing customers who choose to receive paper statements, as opposed to electronic ones, depository institutions — including banks and credit unions — have until now been exempt.
In a single sentence, LD 580 repealed this exemption, meaning that 90 days after the Legislature adjourns for the session, these institutions will no longer be permitted to charge Mainers a fee for receiving their statements the old-fashioned way: on paper.
While the Legislature’s Health and Human Services Committee was divided over whether or not this bill should ultimately be approved, only a handful of lawmakers voted to reject the proposal.
This bill was eventually passed in the Senate with a roll call vote of 30-2 and in the House with a roll call vote of 117-27.
The version of this legislation signed into last this past week by Gov. Mills represented an amended version of the bill as drafted by the Health and Human Services Committee.
Initially, the bill sought to introduce new language explicitly prohibiting depository institutions from imposing a paper statement fee, but given the current structure of Maine’s law, this was not necessary.
Instead, the final version of LD 580 simply repeals the provision exempting these institutions from the existing ban on paper statement fees.
And they won’t up other charges to make up for it? Most working in government have never run or owned a business and don’t have a clue.
I essentially make about $9,000-$13,000 every month on the web. It’s sufficient to serenely supplant my old employments pay, particularly considering I just work around 10-13 hours every week from home. I was stunned how simple it was after I attempted it duplicate underneath web…..
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Smoke and Mirrors by Janet to take attention from the real issues in Maine.
Complete waste of her time! She is worried about a bank or credit union charging a customer a couple bucks for a provided service when she is stealing Millions!
Complete POS!
Why is the “State” mandating anything to do with private business? Trust me folks, this is shmoozing the public for votes, while funneling the public into digital banking. The banks are going to cry foul, as it (paper fee) is all part of doing business. Thus, digital. Problem reaction solution. Wash rinse and repeat.