No, you cannot impose such a requirement. First, Regulation E doesn't permit you to require that a consumer set up a preauthorized EFT for a loan payment. And if you aren't contemplating preauthorized EFTs, you'll still have a hard time refusing a timely check payment under Regulation Z section 1026.10 or 1026.36.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8