Compulsory use of electronic fund transfers

  1. Law
  2. USC 15
  3. Commerce And Trade
  4. CONSUMER CREDIT PROTECTION
  5. ELECTRONIC FUND TRANSFERS
  6. Compulsory use of electronic fund transfers

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§1693k. Compulsory use of electronic fund transfers

No person may-

(1) condition the extension of credit to a consumer on such consumer's repayment by means of preauthorized electronic fund transfers; or

(2) require a consumer to establish an account for receipt of electronic fund transfers with a particular financial institution as a condition of employment or receipt of a government benefit.

(Pub. L. 90–321, title IX, §913, as added Pub. L. 95–630, title XX, §2001, Nov. 10, 1978, 92 Stat. 3737 .)


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