This is an outrage. Who wants to stop a rule that would save money, paper, trees, and transportation costs by permitting the required mutual fund disclosures to be delivered digitally?
The paper industry, of course.
[L]ast year, regulators proposed what to them was an obvious adaptation to the age of Venmo, bitcoin and mobile banking: make it easier for funds to provide certain records electronically.
But what was logical progress to some loomed as a menace to others—notably the American Forest & Paper Association and the Envelope Manufacturers Association. The two industries’ jointly funded group Consumers for Paper Options rallied retiree and consumer groups to join their campaign, decrying what they call the government’s “rush to digitize.” They persuaded a bipartisan coalition of politicians—especially from the paper-heavy state of Maine—to threaten legislation blocking the rule.