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15 U.S.C. § 1642 : Commerce And Trade — Consumer Credit Protection — Consumer Credit Cost Disclosure — Credit Transactions — Issuance Of Credit Cards

7 Mar 2017

No credit card shall be issued except in response to a request or application therefor. This prohibition does not apply to the issuance of a credit card in renewal of, or in substitution for, an accepted credit card.

(Pub. L. 90–321, title I, § 132, as added Pub. L. 91–508, title V, § 502(a), Oct. 26, 1970, 84 Stat. 1126.)


Effective Date

Pub. L. 91–508, title V, § 503(1), Oct. 26, 1970, 84 Stat. 1127, provided that:

“Section 132 of such Act [this section] takes effect on date of enactment of this title [Oct. 26, 1970].”