discussionIndustry Verticals · FinTech & BankingsituationalFintechB2C

Bank auto-withdrawing from hardship accounts without customer consent

A customer on an informal hardship payment arrangement with a bank had funds automatically withdrawn without authorization. The bank invoked an automatic collection system as the reason, bypassing the agreed arrangement. Hardship borrowers have no way to prevent automatic withdrawals even when informal arrangements exist.

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4.15

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