Description
This course explains Regulation E’s requirements for authorizing a preauthorized electronic fund transfer from a consumer’s account. It also describes prohibitions on compulsory use of preauthorized transfers to pay loans and provisions related to consumer’s right to stop payment of a preauthorized electronic fund transfer.
What You’ll Learn
After completing this course, students will be able to:
- Define a preauthorized transfer
- Explain disclosure requirements
- Clarify stop payment rules
