Skip to content

Creditor use of ACH to obtain payments

Answered by: 

Is a creditor subject to the Payday Lending Rule permitted to receive payments by ACH transfer?

Yes, provided, of course, the consumer has authorized such transfers. There are also restrictions on creditor attempts to complete any form of payment transfer after a second consecutive failure to withdraw payments due to insufficient funds.


Learn more about John Burnett’s webinar The Payday Lending Rule – Update and status check

First published on 11/22/2020

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics