Statute · United States Code
15 U.S.C. § 1693k — Compulsory use of electronic fund transfers
15 U.S.C. § 1693k
- Type
- Statute
- Source
- United States Code
- Jurisdiction
- Federal
- Date
- 2025-01-06
- Topic
- employee-benefits-and-executive-compensation
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.
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.