16 CFR 681.2 - Duties of card issuers regarding changes of address.

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§ 681.2 Duties of card issuers regarding changes of address.

(a)Scope. This section applies to a person described in § 681.1(a) that issues a debit or credit card (card issuer).

(b)Definitions. For purposes of this section:

(1)Cardholder means a consumer who has been issued a credit or debit card.

(2)Clear and conspicuous means reasonably understandable and designed to call attention to the nature and significance of the information presented.

(c)Address validation requirements. A card issuer must establish and implement reasonable policies and procedures to assess the validity of a change of address if it receives notification of a change of address for a consumer's debit or credit card account and, within a short period of time afterwards (during at least the first 30 days after it receives such notification), the card issuer receives a request for an additional or replacement card for the same account. Under these circumstances, the card issuer may not issue an additional or replacement card, until, in accordance with its reasonable policies and procedures and for the purpose of assessing the validity of the change of address, the card issuer:


(i) Notifies the cardholder of the request:

(A) At the cardholder's former address; or

(B) By any other means of communication that the card issuer and the cardholder have previously agreed to use; and

(ii) Provides to the cardholder a reasonable means of promptly reporting incorrect address changes; or

(2) Otherwise assesses the validity of the change of address in accordance with the policies and procedures the card issuer has established pursuant to § 681.1 of this part.

(d)Alternative timing of address validation. A card issuer may satisfy the requirements of paragraph (c) of this section if it validates an address pursuant to the methods in paragraph (c)(1) or (c)(2) of this section when it receives an address change notification, before it receives a request for an additional or replacement card.

(e)Form of notice. Any written or electronic notice that the card issuer provides under this paragraph must be clear and conspicuous and provided separately from its regular correspondence with the cardholder.

[ 74 FR 22645, May 14, 2009]

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United States Code
Public Laws

Title 16 published on 14-Jul-2017 03:43

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 16 CFR Part 681 after this date.

  • 2012-12-06; vol. 77 # 235 - Thursday, December 6, 2012
    1. 77 FR 72712 - Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003, as Amended by the Red Flag Program Clarification Act of 2010
      GPO FDSys XML | Text
      Interim final rule; request for comment.
      The interim final rule is effective on February 11, 2013. Written comments must be received on or before February 11, 2013.
      16 CFR Part 681