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In Response To:
Thread Starter: Consumer Cop
Title: Re: Prohibition against requiring loan payment via ACH

I was sure there was a reg for this but Ive searched and searched and cant find it.

Isnt 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!