§ 1693i. — Issuance of cards or other means of access.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC1693i]
TITLE 15--COMMERCE AND TRADE
CHAPTER 41--CONSUMER CREDIT PROTECTION
SUBCHAPTER VI--ELECTRONIC FUND TRANSFERS
Sec. 1693i. Issuance of cards or other means of access
(a) Prohibition; proper issuance
No person may issue to a consumer any card, code, or other means of
access to such consumer's 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 consumer's 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 consumer's
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 Board, 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 consumer's 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, Sec. 911, as added Pub. L. 95-630, title XX,
Sec. 2001, Nov. 10, 1978, 92 Stat. 3736.)
