Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Loan Payments topic
No spam. Unsubscribe anytime.
DCRLF board approves ACH payments for loans; attorney review of new agreements ordered
Summary
The board approved implementation of Automatic Clearing House (ACH) payments for all loans, noting an approximate vendor cost of $22 per month; staff was directed to draft new loan agreements for attorney review. The minutes record the motion and that it carried; no roll-call tallies were provided.
Directors voted to implement Automatic Clearing House (ACH) payment options for borrowers and to update loan agreements to incorporate the new payment method.
The agenda packet included an ACH review noting an "approximate cost of $22 monthly." The minutes state: "ACTION: Motion by Perfetti, second Holt, to approve implementation of ACH payments for all loans, and to draft new agreements to incorporate use of ACH payments with review by attorney. Motion carried." The minutes record the motion and that it carried but do not provide a roll-call vote tally.
