§ 1693k. Compulsory use of electronic fund transfers

Type Statute

Publication 2026-03-26

State In force

Department United States Congress

Source OLRC

§ 1693k. Compulsory use of electronic fund transfers

(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.)

This document does not substitute reading the official United States Code published by the Office of the Law Revision Counsel. We assume no responsibility for any inaccuracies resulting from the conversion to this format.