Gov. Janet Mills (D) has signed a bill clarifying what constitutes a “billing statement” under state law.
Last year, Maine prohibited banks from charging customers a fee for opting to receive paper statements, but concerns were raised in the interim that the language was too broad.
Credit unions brought up to lawmakers that this change not only eliminated fees for regular monthly statements, but also prevented them from charging to fulfill labor-intensive requests, such as those that encompass years’ worth of records.
Under the new law, “billing statement” would be defined as a monthly account statement, allowing Mainers to receive their regular recurring statements at no charge while opening the door for banks and credit unions to impose fees for non-routine requests.
The clarifying definition would also specify that the fee charged for non-routine statements must be “reasonable.”
It would also be required that any fees be “fully disclosed” and “authorized by the customer” prior to the requested statements being provided.
“To be clear, this bill would not create new fees, and it would not weaken consumer protections,” said sponsor Sen. Donna Bailey (D-York). “It would simply clarify the law, restoring clarity to my original intent.”
Because LD 2061 was marked as an emergency piece of legislation, it took effect immediately after it was signed into law by the governor.
Typically, bills are only enacted ninety days after the Legislature adjourns at the end of their current session. Emergency bills are able to bypass this waiting period, provided they receive support from at least two-thirds of lawmakers in both chambers.
LD 2061 was unanimously recommended for passage by the Health Coverage, Insurance and Financial Services (HCIFS) Committee and was approved by voice vote in the House and Senate.
Gov. Mills signed the measure into law on March 19, 2026.
