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Bank regulation needed: require online up to date statement plus optional (with fee) paper account [1]

['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']

Date: 2024-01-23  

Open Letter to Senator Elizabeth Warren

For the last few years I have been paying a $1 monthly fee to TD Bank for getting paper statements of my bank account, while also being able to get on my computer and see my transactions online over the past 60 days.

Today I opened my online account and found that all of a sudden my transactions over the past 60 days were no longer available… all I could see was my current balance, along with a notice saying I had a choice between going paperless and having online access, or else staying with paper statements each month, presumably with a monthly fee.

I want both! I want paper statements because they offer unalterable proof of actual transactions. And I want online to see the most current information. I want paper statements because online information can possibly be compromised by fraudsters or just by accident. Of course either source can contain errors. But having both sources is better than just having one. Redundancy!

I do not want to be forced to choose between the two. I want both!

Dear Senator Warren, I ask you to push for banking regulations that force all banks to offer both online and paper accounting, with the bank charging an “at cost” fee for mailing me a paper statement, where “at cost” is monitored by the feds, to make sure it is honest and not inflated.

By the way, another thing I would like you to push: until today my bank gave me unfettered online access to the last 60 days transactions (today I was not offered any access). I would like banks to offer unfettered access much further back in time.

In the interest of protecting consumers from fraud, and giving them full information on their banking transactions, I would greatly appreciate if you would push for these things.

I voted for you in the 2020 primaries. I believe you would have been a great president!

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[1] Url: https://www.dailykos.com/stories/2024/1/23/2219066/-Bank-regulation-needed-require-online-up-to-date-statement-plus-optional-with-fee-paper-account?pm_campaign=front_page&pm_source=more_community&pm_medium=web

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