---
kind: "section"
citation: "12 C.F.R. § 1005.5"
title: "12"
number: "1005.5"
heading: "Issuance of access devices."
url: "https://uscodex.org/cfr/12/1005.5"
---

# §1005.5. Issuance of access devices.

- (a) **Solicited issuance.** Except as provided in [paragraph (b)](#b) of this section, a financial institution may issue an access device to a consumer only:
  - (1) In response to an oral or written request for the device; or
  - (2) As a renewal of, or in substitution for, an accepted access device whether issued by the institution or a successor.
- (b) **Unsolicited issuance.** A financial institution may distribute an access device to a consumer on an unsolicited basis if the access device is:
  - (1) Not validated, meaning that the institution has not yet performed all the procedures that would enable a consumer to initiate an electronic fund transfer using the access device;
  - (2) Accompanied by a clear explanation that the access device is not validated and how the consumer may dispose of it if validation is not desired;
  - (3) Accompanied by the disclosures required by [§ 1005.7](/cfr/12/1005.7.md), of the consumer's rights and liabilities that will apply if the access device is validated; and
  - (4) Validated only in response to the consumer's oral or written request for validation, after the institution has verified the consumer's identity by a reasonable means.

## Notes

### Authority

Authority: 12 U.S.C. 5512, 5581; 15 U.S.C. 1693b. Subpart B is also issued under 12 U.S.C. 5601 and 15 U.S.C. 1693o-1.

### Source

Source: 76 FR 81023, Dec. 27, 2011, unless otherwise noted.