A debit card is an ancillary product to a checking account. It is the Bank's decision if and when it provides this service to a customer. If a customer requests a debit card and the Bank denies the request based on information obtained from a consumer report, the Bank must provide an adverse action notice as required by the Fair Credit Reporting Act.
Guidance on Timeline for Issuing Debit Card
Is there language in any regulation or even industry guidance on the timeline for issuing a debit card once a customer has requested one? I suspect one of my bank's branches is waiting 90 days to issue every single card. At minimum, I want to streamline the process so that cards are issued on the same schedule across all branches, and just want to be able to defend whatever timeline we use.
First published on 02/17/2019