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#1996121 - 02/13/15 09:14 PM Signature of Credit Card App?
Compli(cated) Offline
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Wisconsin
Our credit card department is wanting to forego the signature requirement on credit card applications. In other words, if you give us your information, we will do the underwriting and give you a credit card - no need to sign anything at all.
One issue I see with this is Reg B and the intent to apply for joint credit (if it is a joint app). Another issue - we want a signature authorizing a credit check. Anything else that I am not thinking of?
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Lending Compliance
#1996153 - 02/13/15 09:51 PM Re: Signature of Credit Card App? Compli(cated)
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
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How is the application made? Paper? Online?
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#2003262 - 03/23/15 02:36 PM Re: Signature of Credit Card App? Compli(cated)
Compli(cated) Offline
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Wisconsin
These would be the applications made at a branch (the person is right in front of you) and applications that are part of our brochures, which members can complete and drop off or mail in.

The phone apps are recorded so we get the consent on record and the interned apps have an acknowledgement checkbox so we are covered there.
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#2003850 - 03/25/15 01:31 PM Re: Signature of Credit Card App? Compli(cated)
Indy Banker Offline
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We don't do credit cards, but I thought I read that the CARD Act made it mandatory for young adults (under 21?) to sign an application for a credit card.

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#2290880 - 11/17/23 05:21 PM Re: Signature of Credit Card App? Indy Banker
ComplyGuy Offline
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Originally Posted by Indy Banker
We don't do credit cards, but I thought I read that the CARD Act made it mandatory for young adults (under 21?) to sign an application for a credit card.
Does anyone know if this is true? I can't find anything that says under 21 has to sign a written application.

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#2290889 - 11/18/23 07:38 AM Re: Signature of Credit Card App? Compli(cated)
rlcarey Offline
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Galveston, TX
Why would an application from someone under 21 be any different than any other application. Without a signature, how can you prove who actually applied for the loan in a dispute?
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#2290890 - 11/18/23 12:43 PM Re: Signature of Credit Card App? Compli(cated)
Rocky P Offline
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Florida
. . . . . and, without a signature (written or electronic), you have no contract
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#2290905 - 11/20/23 07:45 PM Re: Signature of Credit Card App? rlcarey
ComplyGuy Offline
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Originally Posted by rlcarey
Why would an application from someone under 21 be any different than any other application. Without a signature, how can you prove who actually applied for the loan in a dispute?
Don't people take verbal/online apps?

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#2290906 - 11/20/23 07:50 PM Re: Signature of Credit Card App? Rocky P
ComplyGuy Offline
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Originally Posted by Rocky P
. . . . . and, without a signature (written or electronic), you have no contract
Use of the card binds them in the agreement.

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#2290916 - 11/21/23 09:05 AM Re: Signature of Credit Card App? Compli(cated)
rlcarey Offline
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Galveston, TX
If you can prove "them" is "them" smile
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