Introduced
by
To require financial institutions to provide consumers with an opt out of electronic presentment of checks and certain other instruments. According to the sponsor, some customers paying their cell phone bill by check have found that in so doing they authorized the cell phone provider to electronically remove money from their checking accounts without any further authorization. The bill would require written notice alerting consumers of their right to opt-out of this type of future payment.
Referred to the Committee on Commerce
