What best describes the relationship between debit authorization and assent?

The relationship between debit authorization and assent is effectively captured by noting that both are necessary for transaction completion in Automated Clearing House (ACH) transactions. Debit authorization refers to the process where a financial institution obtains permission from a consumer to withdraw funds from their account. This authorization is crucial in ensuring that transactions are conducted securely and with the consumer's knowledge and agreement.

Assent, on the other hand, is about the consumer's agreement or consent to the terms and conditions surrounding the transaction, which includes understanding the implications of allowing their funds to be accessed. In the context of ACH transactions, having both a defined debit authorization and the consumer's assent ensures that the transaction can be processed without legal or operational issues. This combination protects both the interests of the consumer and the financial institutions involved, ensuring compliance with regulatory frameworks and minimizing the risk of unauthorized transactions.

Thus, the necessity of both elements highlights the importance of obtaining formalized consent and understanding in transactions, especially in electronic payment systems.