Current credit card laws?

Question

Does anyone know the current laws and banking regulations regading this matter:
I have a question regarding proper merchant policy when accepting a card. Years ago merchants would slide a customer's card, then check to see if the signature on the receipt and the signature on the back of the card matched. This, to my understanding, is why cards read "not valid until signed." Recently merchants have been asking for my driver's license match the printed name on the ID and the stamped name on the credit/debit card. What is the current law. I'm not looking for speculation or what people think is best. Only written law, thank you.

Answer 1

Actual it not a law in the U.S. except for California. However, merchants willing violate the credit card merchant policy by asking for ID. They are not supposed to unless the do a code 10 request. Then they can ask for id after the authorization center request the merchant to do this.

In California there is a law which is under debate that they can ask for id for a credit card purchases.

I have notice at the post office. Some one came with a card that said "See id" they made the person sign the card and show two ids. Which this is allowed. Just read some of the pdf files on that web page.

Merchants can as for id if a debit card is ran as a pin purchase as long as it does not go through the Visa interlink, Visa plus or Maestro debit network.

Answer 2

I never sign the back of my card. I wrote see ID. The store is the one that does the ID rule. It is another means of making sure the card is yours. If card is reported stolen and its used at a store the credit card company does not pay the store. If the store clerk follows the rules they verify the sig on the back of card then looks at the ID to make sure the name matches. just so they don't give something away free.