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Locating Banking Laws

Where can I find the federal law that states that banks must terminate automatic payments/deductions from my checking account to companies when I tell them to do so?


Banking Regulation E requires the bank to tell you a summary of your rights and the procedures necessary to affect certain stop payment requests. You can find that requirement under §205.7(b)(7). If your dispute is how it was done, be certain you followed their rules to make the request.

Published on BankingQuestions.com 7/11/07