15 U.S.C. § 1693k – Compulsory use of electronic fund transfers | Midpage
§ 1693k
15 U.S.C. § 1693k
Compulsory use of electronic fund transfers
(Pub. L. 90–321, title IX, § 913, as added Pub. L. 95–630, title XX, § 2001, Nov. 10, 1978, 92 Stat. 3737.)
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.