What's New? Fee for Receiving Paper Statements is Constitutionally Protected

The United States District Court  for the Eastern District of New York has ruled that New York General Business Law Section 399-zzz is unconstitutional. This statute previously prohibited business entities from charging consumers an additional fee for receiving paper billing statements. Following this decision, banks have stronger legal grounds to defend the imposition of paper statement fees in New York, though operational caution is still advised due to the potential for appeals.

For more details, see our section in the Gold Book.