15 U.S.C. § 1693k

Compulsory use of electronic fund transfers

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No person may—(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.)
Notes of Decisions
Cited in 18 cases (6 in the last 5 years), 2011–2025 · leading case: Daye v. Cmty. Fin. Serv. Centers, LLC, 233 F. Supp. 3d 946 (D.N.M. 2017).
Daye v. Cmty. Fin. Serv. Centers, LLC, 233 F. Supp. 3d 946 (D.N.M. 2017). · cites it 3× “” Reply at 16-17 (quoting 15 U.S.C. § 1693k). Accordingly, Daye maintains, all loans within the EFTA’s one-year statute of limitations violated the EFTA.”
Daye v. Cmty. Fin. Serv. Centers, LLC, 313 F.R.D. 147 (D.N.M. 2016). · cites it 2× “” Brief at 9 (citing 15 U.S.C. § 1693k). Third, Daye alleges that Speedy Loan’s form contracts uniformly fail to disclose payment due dates, as the TILA requires.”
Fed. Trade Comm'n v. Payday Fin. LLC, 989 F. Supp. 2d 799 (D.S.D. 2013). · cites it 3× “10 (e)(1); 15 U.S.C. § 1693k(l). In turn, 12 C.F.R. § 205.”
de la Torre v. CashCall, Inc., 56 F. Supp. 3d 1073 (N.D. Cal. 2014). · cites it 4× “10 (e)(1); 15 U.S.C. § 1693k(1). The EFTA defines “preauthorized electronic fund transfer” as “an electronic fund transfer authorized in advance to recur at substantially regular intervals.”
Daye v. Cmty. Fin. Loan Serv. Centers, LLC, 280 F. Supp. 3d 1222 (D.N.M. 2017). “tatement regarding cash payments as references to borrowers’ ability to make individual payments in cash to avoid having money withdrawn from their bank account, see supra FOFs ¶ 21, and not to a supposed ability to avoid giving Speedy Loan an ACH authorization in the first…”
O'Donovan v. CashCall, Inc., 278 F.R.D. 479 (N.D. Cal. 2011). “Pursuant to 15 U.S.C. § 1693k(l), “No person may ... condition the extension of credit to a consumer on such consumer’s repayment by means of preauthorized electronic fund transfers.”
Charlessaint v. Persion Acceptance Corp., 110 F. Supp. 3d 303 (D. Mass. 2015). “15 U.S.C. § 1693k(l); Mass. Gen. Laws ch.”
Curtis v. Propel Prop. Tax Funding, LLC, 265 F. Supp. 3d 647 (E.D. Va. 2017). · cites it 2× “Specifically, the "briefs focused on the alleged violation of 15 U.S.C. § 1693k, which, like thé TILA claim in Count I, concerns the definition of the term “credit.”
Sims v. Opportunity Fin., LLC (N.D. Cal. 2021). · cites it 7× “21 Plaintiff cannot alter the above justifications for dismissal by amending his FAC.”
Kaschak v. Bankers Healthcare Grp., LLC (N.D. Ill. 2024). · cites it 5× “Count II is a claim under the Electronic Funds Transfer Act, 15 U.S.C. § 1693k. Id. at ¶¶ 44–47. Kaschak claims that the loan agreements required him to repay a consumer loan by electronic fund transfers, in violation of federal law.”
Sparano v. JLO Auto., Inc. (D. Conn. 2021). · cites it 3× “Sparano has moved for partial summary judgment on the alleged Truth in Lending Act violations.”
Consum. Fin. Prot. Bureau v. Snap Fin. (D. Utah 2024). · cites it 2× “(Claim Three) the Electronic Fund Transfer Act (“EFTA”), pursuant to 15 U.S.C. § 1693k, and its implementing regulation, Regulation E, pursuant to 12 C.”
— 15 U.S.C. § 1693k(1) — 6 cases
de la Torre v. CashCall, Inc., 56 F. Supp. 3d 1073 (N.D. Cal. 2014). “10 (e)(1); 15 U.S.C. § 1693k(1). The EFTA defines “preauthorized electronic fund transfer” as “an electronic fund transfer authorized in advance to recur at substantially regular intervals.”
Curtis v. Propel Prop. Tax Funding, LLC, 265 F. Supp. 3d 647 (E.D. Va. 2017). “Specifically, the "briefs focused on the alleged violation of 15 U.S.C. § 1693k, which, like thé TILA claim in Count I, concerns the definition of the term “credit.”
Sims v. Opportunity Fin., LLC (N.D. Cal. 2021). “21 Plaintiff cannot alter the above justifications for dismissal by amending his FAC.”
Kaschak v. Bankers Healthcare Grp., LLC (N.D. Ill. 2024). “Count II is a claim under the Electronic Funds Transfer Act, 15 U.S.C. § 1693k. Id. at ¶¶ 44–47. Kaschak claims that the loan agreements required him to repay a consumer loan by electronic fund transfers, in violation of federal law.”
Sparano v. JLO Auto., Inc. (D. Conn. 2021). “Sparano has moved for partial summary judgment on the alleged Truth in Lending Act violations.”
— 15 U.S.C. § 1693k(2) — 1 case
— 15 U.S.C. § 1693k(a) — 2 cases
Daye v. Cmty. Fin. Serv. Centers, LLC, 313 F.R.D. 147 (D.N.M. 2016). “” Brief at 9 (citing 15 U.S.C. § 1693k). Third, Daye alleges that Speedy Loan’s form contracts uniformly fail to disclose payment due dates, as the TILA requires.”
Consum. Fin. Prot. Bureau v. Snap Fin. (D. Utah 2024). “(Claim Three) the Electronic Fund Transfer Act (“EFTA”), pursuant to 15 U.S.C. § 1693k, and its implementing regulation, Regulation E, pursuant to 12 C.”
— 15 U.S.C. § 1693k(l) — 4 cases
Fed. Trade Comm'n v. Payday Fin. LLC, 989 F. Supp. 2d 799 (D.S.D. 2013). “10 (e)(1); 15 U.S.C. § 1693k(l). In turn, 12 C.F.R. § 205.”
de la Torre v. CashCall, Inc., 56 F. Supp. 3d 1073 (N.D. Cal. 2014). “10 (e)(1); 15 U.S.C. § 1693k(1). The EFTA defines “preauthorized electronic fund transfer” as “an electronic fund transfer authorized in advance to recur at substantially regular intervals.”
O'Donovan v. CashCall, Inc., 278 F.R.D. 479 (N.D. Cal. 2011). “Pursuant to 15 U.S.C. § 1693k(l), “No person may ... condition the extension of credit to a consumer on such consumer’s repayment by means of preauthorized electronic fund transfers.”
Charlessaint v. Persion Acceptance Corp., 110 F. Supp. 3d 303 (D. Mass. 2015). “15 U.S.C. § 1693k(l); Mass. Gen. Laws ch.”
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