Requires anyone engaged in the sale of goods or services, and who offers a discount to its customers’ for utilizing automatic payment systems, via ACH or EFT or similar payment systems, provide the same discount to any person who is sixty-five (65).

Plain-English Summary: Rhode Island Senior Savings Protection Act

This bill would require businesses in Rhode Island that offer discounts to customers who use automatic payment systems — such as automatic bank transfers or electronic fund transfers — to offer those same discounts to customers who are 65 years old or older, even if those seniors don't use the automatic payment method. In other words, if a company gives you a lower price for signing up for autopay, they would also have to give that same lower price to seniors who prefer to pay a different way.

The bill is designed to address a real-world challenge many older adults face: some seniors are uncomfortable with, lack access to, or are unable to use automatic electronic payment systems. Currently, businesses can legally offer autopay discounts without extending them to anyone who doesn't enroll, which means seniors who opt out of autopay may end up paying more for the same goods or services. This legislation would make it so that simply being 65 or older qualifies a person for that discount, regardless of how they choose to pay.

This bill would affect any business in Rhode Island that sells goods or services and currently offers autopay discounts — this could include utility companies, subscription services, insurance providers, and others. Seniors would benefit by gaining access to savings they might otherwise miss out on, while businesses would be required to update their discount policies to include this age group. The bill has been introduced and referred to the Rhode Island Senate Commerce Committee, where it will be reviewed before any further action is taken.