SF 2144

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to consumer protection; regulating credit
card offers and solicitations; requiring address
corrections; proposing coding for new law in Minnesota
Statutes, chapter 325G.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [325G.052] CREDIT CARD OFFERS AND
SOLICITATIONS; ADDRESS VERIFICATIONS.
new text end

new text begin (a) A credit card issuer that mails an offer or
solicitation to receive a credit card and, in response, receives
a completed application for a credit card that lists an address
that is different from the address on the offer or solicitation
shall verify the change of address by contacting the person to
whom the solicitation or offer was mailed.
new text end

new text begin (b) Notwithstanding any other provision of law, a person to
whom an offer or solicitation to receive a credit card is made
is not liable for the unauthorized use of a credit card issued
in response to that offer or solicitation if the credit card
issuer does not verify the change of address pursuant to
paragraph (a) before the issuance of the credit card, unless the
credit card issuer proves that this person actually incurred the
charge on the credit card.
new text end

new text begin (c) When a credit card issuer receives a written or oral
request for a change of the cardholder's billing address and
then receives a written or oral request for an additional credit
card within ten days after the requested address change, the
credit card issuer shall not mail the requested additional
credit card to the new address or, alternatively, activate the
requested additional credit card, unless the credit card issuer
has verified the change of address.
new text end