15-U.S.C.-1693I
§1693I – Issuance of Cards Or Other Means of Access
Pathway
Title 15 > Chapter 41 > Subchapter VI > Section 1693i
Details
- Reference: Section 1693i
- Legend: §1693I – Issuance of Cards Or Other Means of Access
- USCode Year: 2013
Provision Content
(a) Prohibition; proper issuance
No person may issue to a consumer any card, code, or other means of access to such consumers account for the purpose of initiating an electronic fund transfer other than—
(1) in response to a request or application therefor; or
(2) as a renewal of, or in substitution for, an accepted card, code, or other means of access, whether issued by the initial issuer or a successor.
(b) Exceptions
Notwithstanding the provisions of subsection (a) of this section, a person may distribute to a consumer on an unsolicited basis a card, code, or other means of access for use in initiating an electronic fund transfer from such consumers account, if—
(1) such card, code, or other means of access is not validated;
(2) such distribution is accompanied by a complete disclosure, in accordance with section 1693c of this title, of the consumers rights and liabilities which will apply if such card, code, or other means of access is validated;
(3) such distribution is accompanied by a clear explanation, in accordance with regulations of the Bureau, that such card, code, or other means of access is not validated and how the consumer may dispose of such code, card, or other means of access if validation is not desired; and
(4) such card, code, or other means of access is validated only in response to a request or application from the consumer, upon verification of the consumers identity.
(c) Validation
For the purpose of subsection (b) of this section, a card, code, or other means of access is validated when it may be used to initiate an electronic fund transfer.
(Pub. L. 90–321, title IX, §911, as added Pub. L. 95–630, title XX, §2001, Nov. 10, 1978, 92 Stat. 3736; amended Pub. L. 111–203, title X, §1084(1), July 21, 2010, 124 Stat. 2081.)
Amendments
2010—Subsec. (b)(3). Pub. L. 111–203 substituted Bureau for Board.
Effective Date of 2010 Amendment
Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
U.S. Encyclopedia of Law Coverage
15-U.S.C.-1693I in the Legal Encyclopedia: Trade Law
In this entry about 15-U.S.C.-1693I, find legal reference material, bibliographies and premiere content related to trade law in the American Encyclopedia of Law, presenting a comprehensive view of the United States trade law-specific issues, written by authorities in the field.
Subchapter VI – Electronic Fund Transfers in the Legal Encyclopedia: Consumer Credit Protection
In this entry about Subchapter VI – Electronic Fund Transfers, find legal reference material, bibliographies and premiere content related to consumer credit protection in the American Encyclopedia of Law, presenting a comprehensive view of the United States consumer credit protection-specific issues, written by authorities in the field.
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