Automated Electronic Checking

The FTC is mailing 34,859 refund checks to consumers whose bank accounts were debited, allegedly without their consent, by Nevada-based payment processor Automated Electronic Checking Inc. (AEC). Using a relatively new payment method called “remotely created payment orders” to give merchants access to consumer bank accounts, AEC debited many consumers who had never heard of AEC or its client merchants, some of whom included online discount shopping clubs and payday loan sites.  Under a settlement, AEC was banned from payment processing and required to pay a monetary judgment.

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