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I wanted to gather some thoughts from this community regarding Regulation E and recurring autopay.
Abundantly aware a bank cannot require borrowers to set up recurring autopay on a loan.
However, Reg E does not contemplate collections well if the borrower does not honor the payment agreement and goes into a collection status, where the original agreement is modified.
What are the various opinions about a bank that might have a "settlement" program where the original loan is discounted, accruing interest is stopped, but borrowers are required to opt into autopay to take advantage of the offer?