---
kind: "section"
citation: "15 U.S.C. § 1693k"
title: "15"
title_heading: "Commerce and Trade"
number: "1693k"
heading: "Compulsory use of electronic fund transfers"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/15/1693k"
units:
  - "Chapter 41 — Consumer Credit Protection"
  - "Subchapter VI — Electronic Fund Transfers"
---

# §1693k. Compulsory use of electronic fund transfers


No [person](/usc/15/1602.md?p=e) may—

- (1) condition the extension of [credit](/usc/15/1602.md?p=f) to a [consumer](/usc/15/1692a.md?p=3) on such [consumer](/usc/15/1692a.md?p=3)’s repayment by means of [preauthorized electronic fund transfers](/usc/15/1693a.md?p=10); or
- (2) require a [consumer](/usc/15/1692a.md?p=3) to establish an [account](/usc/15/1693a.md?p=2) for receipt of [electronic fund transfers](/usc/15/1693a.md?p=7) with a particular [financial institution](/usc/15/1693a.md?p=9) as a condition of employment or receipt of a government benefit.

## Source credit

(Pub. L. 90–321, title IX, § 913, as added Pub. L. 95–630, title XX, § 2001, Nov. 10, 1978, 92 Stat. 3737.)