More than 100,000 Americans have submitted comments opposing a Securities and Exchange Commission proposal to make electronic delivery the default for financial disclosures, according to the Protect Paper Choice Coalition (PPCC). American Recycler reported that the coalition, which includes the American Forest & Paper Association (AF&PA) and the Envelope Manufacturers Association (EMA), is seeking to preserve paper delivery as the standard method for these communications.
The proposed Regulation E-Delivery would require people who want paper financial documents to opt into that service rather than receive them by default. The industry groups argue that the change would create additional obstacles for people who depend on printed statements and notices. Their opposition focuses on access to sensitive financial information and concerns about the security of electronic communications.
Mark Pitts, AF&PA vice president of industry affairs, highlighted the importance of paper delivery for older Americans, rural communities and people lacking dependable internet access. He noted that consumers can already select digital delivery and argued that those who rely on paper should not face additional barriers. Pitts characterised the response to the proposal as evidence of support for paper communications across different age groups and backgrounds.
EMA president Marie Clarke also pointed to the number of opposing comments as a sign of public confidence in paper mail for critical financial information. She warned that making electronic delivery the default could give online fraudsters more opportunities to target vulnerable people. The report described criminals impersonating bank statements and other official notices to obtain access to financial accounts; that risk was presented as an argument against the proposed change.
American Recycler also cited polling indicating that 80% of US consumers want to choose how they receive important communications, while 65% worry about electronic data being compromised. The report put annual losses to online scams at $148.2 billion, although it did not identify the source of that estimate or name the polling provider.