Thread Starter: Consumer Cop
Title: Re: Prohibition against requiring loan payment via ACH
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I was sure there was a reg for this but I’ve searched and searched and can’t find it.
Isn’t there a regulation prohibiting requiring a consumer to pay a loan via ACH (as in, automated, prearranged draft/debit from checking, either at our bank or elsewhere)? We want to have it as a condition of granting an unsecured consumer loan.
Maybe I'm just making up regs!
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