Compliance program and record retention.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) (2)-(3) [Reserved] (4) (i) Leveraged payment mechanism(s) obtained by the lender from the consumer; (ii) Authorization of additional payment transfer, as described in § 1041.8(c)(3)(iii); and (iii) Underlying one-time electronic transfer authorization or underlying signature check, as described in § 1041.8(d)(2). (5) (i) History of payments received and attempted payment transfers, as defined in § 1041.8(a)(1), including: (A) Date of receipt of payment or attempted payment transfer; (B) Amount of payment due; (C) Amount of attempted payment transfer; (D) Amount of payment received or transferred; and (E) Payment channel used for attempted payment transfer. (ii) If an attempt to transfer funds from a consumer's account is subject to the prohibition in § 1041.8(b)(1), whether the lender or service provider obtained authorization to initiate a payment transfer from the consumer in accordance with the requirements in § 1041.8(c) or (d).

official document · source cfr-2024 · id 12:§ 1041.12