ID Theft Red Flags FAQ IIIA2 – Do the address validation requirements of the Card Issuers’ Rules apply to corporate credit or debit cards?

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Q:  Do the address validation requirements of the Card Issuers’ Rules apply to corporate credit or debit cards?
 
A:  There are many types of corporate credit and debit cards with many possible combinations of features.  For example, a card may be in the name of a corporation or an individual employee, and the corporation or individual employee may be responsible for payment.
 
The address validation requirements in the Card Issuers’ Rules apply when a card issuer receives a “notification of a change of address for a consumer’s debit or credit card account” followed by a request for an additional or replacement card.” (Emphasis added). Identity theft in connection with a card that a consumer uses for a business purpose may affect the consumer’s personal credit standing.  Therefore, the address validation requirements of the Card Issuers’ Rules extend to debit and credit cards that are in an individual employee’s name and for which the employee is responsible for payment.
 
 
ADDITIONAL INFORMATION:
This information was obtained from the Interagency FAQs for Identity Theft Red Flags and Address Discrepancies - https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20090611a1.pdf
 

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