Common use of No person may Clause in Contracts

No person may. require you to use a preauthorized electronic funds transfer as a condition for the extension of credit unless the credit is being extended in connection with an overdraft checking plan or is being extended to maintain a specified minimum balance in your account, or • require you either to accept an electronic funds transfer service or to establish an account which is assessed electronically as a condition of employment or receipt of a government benefit, or • require you to pay electronically for the purchase of goods or services. If your account is to be credited by a preauthorized electronic funds transfer, you may choose the financial institution to which the transfer will be made, if the institution is technically capable of receiving the transfer.