Consumer Credit Regulation: 9.2.5 Early Presentation of Post-Dated Checks
Many storefront payday lenders require a post-dated check as security for a loan. But most consumers do not realize that, under the UCC, a check is payable when it is presented to the bank, even if it is post-dated.144 This means, if a payday lender attempts to present the consumer’s check early, a bank will normally pay it regardless of the date.