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Fallback functions only work when a contract receives ether. Is there a way to write a fallback-style function that is automatically called when a contract receives an ERC20 token?

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There is a reference implementation in EIP 677 and also in ERC223

This function must transfer tokens and invoke the function tokenFallback (address, uint256, bytes) in _to, if _to is a contract.

The token fallback function, which will be called at the receiver contract, must be named tokenFallback and take the parameters:(address, uint256, bytes). It’s an analogue of the fallback function for ETH transactions and should be used to handle incoming transactions.

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