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AL SB141

Bill

Official Source

Status

Introduced

2/11/2025

Primary Sponsor

Tom Butler

Click for details

Origin

Senate

2025 Regular Session

AI Summary

  • Prohibits financial institutions subject to Chapter 5A of Title 5, Code of Alabama 1975, including banking organizations, mortgage brokers, mortgage bankers, and credit card processors from charging customers a fee for periodic paper billing statements.

  • Applies to all accounts provided by covered financial institutions, addressing a practice currently permitted under federal law.

  • Becomes effective on October 1, 2025.

Legislative Description

Financial Institutions; prohibit fee for periodic paper billing statements

Businesses & Financial Institutions

Last Action

Pending Senate State Governmental Affairs

2/11/2025

Committee Referrals

State Governmental Affairs2/11/2025

Full Bill Text

No bill text available