SB141 Alabama 2025 Session

Summary

Primary Sponsor

Tom ButlerSenator

Republican

Session

2025 Regular Session

Title

Financial Institutions; prohibit fee for periodic paper billing statements

Summary

The bill would ban charging fees for periodic paper billing statements by financial institutions and related entities in Alabama.

What This Bill Does

It would prohibit financial institutions, mortgage brokers, mortgage bankers, and credit card processors from charging customers a fee for periodic paper billing statements. The prohibition covers paper statements for accounts such as credit cards, bank accounts accessible by ATM or electronic transactions, and mortgage accounts. The entities affected are those under Chapter 5A of Title 5 of the Alabama Code. The law becomes effective on October 1, 2025.

Who It Affects

• Financial institutions and related entities (banks and banking organizations, mortgage brokers, mortgage bankers, and credit card processors) would be prohibited from charging a fee for periodic paper billing statements.
• Customers who receive periodic paper billing statements from these institutions would not have to pay a paper-statement fee.

Key Provisions

• Section 1: Prohibits charging a fee for periodic paper billing statements by financial institutions subject to Chapter 5A of Title 5, including banks, mortgage brokers, mortgage bankers, and credit card processors.
• Section 2: Effective date is October 1, 2025.

AI-generated summary using openai/gpt-5-nano on Feb 22, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Businesses & Financial Institutions