Consumer Credit
US Congress 111th Congress
Credit Card Accountability Responsibility and Disclosure Act of 2009 [HB-627]
Credit Card Accountability Responsibility and Disclosure Act of 2009 or the Credit CARD Act of 2009 - (Sec. 2) Authorizes the Board of Governors of the Federal Reserve System (Federal Reserve Board) to issue rules and publish model forms to implement this Act. (Sec. 3) Makes this Act effective nine months after its enactment. Title I: Consumer Protection - (Sec. 101) Amends the Truth in Lending Act (TILA), with respect to credit card accounts under an open end consumer credit plan, to require a creditor to provide written notice not later than
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Restore Online Shoppers' Confidence Act [HB-5707]
Restore Online Shoppers' Confidence Act - Defines "post-transaction third party seller" as a person that: (1) sells, or offers for sale, any good or service on the Internet; (2) solicits purchases on the Internet through an initial merchant after the consumer has initiated a transaction with the initial merchant; and (3) is not a subsidiary or corporate affiliate of the initial merchant. Makes it unlawful for any post-transaction third party seller to charge or attempt to charge any consumer's credit card, debit card, bank account, or other financial
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Taxpayer Abuse Prevention Act [HB-5693]
Taxpayer Abuse Prevention Act - Amends the Internal Revenue Code to provide that advance payments of the earned income tax credit and the child tax credit are not transferable or assignable or subject to the claims of any creditors, except outstanding claims of the federal government. Prohibits: (1) the collection of a debt from a debtor's federal tax refund by means of a refund anticipation loan; and (2) mandatory arbitration as a condition of providing a refund anticipation loan. Terminates the Department of the Treasury Debt Indicator Program.
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Debt Settlement Consumer Protection Act of 2010 [HB-5387]
Debt Settlement Consumer Protection Act of 2010 - Amends the Consumer Credit Protection Act to prohibit debt settlement providers from providing a debt settlement service or receiving a fee from a consumer without a signed written contract meeting specified requirements. Prohibits debt settlement providers from engaging in certain acts or practices, including: (1) making loans or offering credit or soliciting or accepting any note, mortgage, or negotiable instrument other than a check signed by the consumer and dated no later than the date of signature;
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Electronic Check Parity Act of 2010 [HB-5199]
Electronic Check Parity Act of 2010 - Finds electronic debit transactions serve as a functional replacement for check transactions. Grants the Board of Governors of the Federal Reserve System authority to promulgate rules regarding any interchange transaction fee charged with respect to an electronic debit transaction. Permits the Board to exempt from such rules any financial institutions, including those regulated by the National Credit Union Administration (NCUA), that, together with affiliates, have assets of less than $1 billion. Amends the
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National Heroes Credit Protection Act [HB-5048]
National Heroes Credit Protection Act - Amends the Servicemembers Civil Relief Act to authorize a servicemember, after having served on active duty for more than 180 days, to request that a consumer reporting agency (CRA) include in that servicemember's file a military service deployment alert. Requires the CRA to: (1) provide the alert to each person who requests the credit score or consumer report of such servicemember; and (2) develop and maintain procedures for referral of such alert to other CRAs. Requires: (1) a reseller of credit reporting
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Home Star Energy Retrofit Act of 2010 [HB-5019]
Home Star Energy Retrofit Act of 2010 - Title I: Home Star Retrofit Rebate Program - (Sec. 101) Requires the Secretary of Energy (DOE) to: (1) establish the Home Star Retrofit Rebate Program to provide rebates to contractors to be passed through as discounts to homeowners who retrofit their homes to achieve energy savings; (2) establish a Federal Rebate Processing System to allow rebate aggregators to submit claims for reimbursement, quality assurance reports to be identified with the work for which rebates are claimed, and any Home Star loans to
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Credit Card Cosigner Protection Act of 2010 [HB-4659]
Credit Card Cosigner Protection Act of 2010 - Amends the Truth in Lending Act to require the creditor or lessor to provide to each obligor involved in a consumer credit transaction or consumer lease all disclosures required under such Act.
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Cash Back Reward Act of 2010 [HB-4562]
Cash Back Reward Act of 2010 - Amends the Internal Revenue Code to allow a tax deduction for interest paid on an unsecured credit card in 2010. Limits the amount of such deduction to $5,000 ($10,000 for married couples filing a joint tax return).
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To amend the Internal Revenue Code of 1986 to provide a limited exclusion from gross income for the discharge of indebtedness of individuals. [HB-4561]
Amends the Internal Revenue Code to allow a limited exclusion from gross income for income resulting from the discharge of qualified individual indebtedness. Defines "qualified individual indebtedness" as any indebtedness of an individual other than indebtedness which is discharged on account of services performed for the lender or held at any time by a person related to such individual.
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Fair Access to Credit Scores Act of 2010 [HB-4538]
Fair Access to Credit Scores Act of 2010 - Amends the Fair Credit Reporting Act to require consumer reporting agencies to disclose any information in the consumer's file concerning credit scores or other related risk scores or predictors when the consumer requests a free annual disclosure (credit report). Requires all consumer reporting agencies to maintain information in the consumer's file concerning such scores or predictors for at least one year from the date on which such information is placed in the file. Directs the Comptroller General to
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Reverse Mortgage Elder Protection Act [HB-4419]
Reverse Mortgage Elder Protection Act - Amends the Truth in Lending Act to prohibit a creditor from taking an application for a reverse mortgage unless the creditor has provided the applicant with: (1) a specified written cautionary statement before the applicant receives any counseling regarding reverse mortgages; (2) a specified written checklist before meeting with a counseling agency about reverse mortgages; and (3) a referral to a housing counseling agency for reverse mortgage counseling approved by the Department of Housing and Urban Development
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Freedom from Discrimination in Credit Act of 2009 [HB-4376]
Freedom from Discrimination in Credit Act of 2009 - Amends the Equal Credit Opportunity Act to prohibit discrimination on account of sexual orientation or gender identity when extending credit. Defines: (1) "gender identity" as the gender-related identity, appearance, or mannerisms or other gender-related characteristics of an individual with or without regard to the individual's designated sex at birth; (2) "person" as a natural person, corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association;
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Restoring America's Commitment to Consumers Act of 2009 [HB-4300]
Restoring America's Commitment to Consumers Act of 2009 - Amends the Truth in Lending Act to prohibit the annual percentage rate (APR) applicable to an extension of credit on a credit card account under an open end consumer credit plan from exceeding 16%. Includes in an APR any compensation fee (including a membership fee or an annual fee) for: (1) opening or maintaining the account; (2) granting an extension of credit; or (3) making available a line of credit. Authorizes the Board of Governors of the Federal Reserve System to make adjustments to
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Dodd-Frank Wall Street Reform and Consumer Protection Act [HB-4173]
Dodd-Frank Wall Street Reform and Consumer Protection Act - Title I: Financial Stability - Financial Stability Act of 2010 - Subtitle A: Financial Stability Oversight Council - (Sec. 111) Establishes the Financial Stability Oversight Council (Council), consisting of the heads of specified federal financial regulatory bodies and chaired by the Secretary of the Treasury. (Sec. 112) Requires the Council, among other things, to: (1) identify risks to U.S. financial stability that could arise from the material financial distress or failure, or ongoing
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Judicious Use of Surveillance Tools In Counterterrorism Efforts Act of 2009 [HB-4005]
Judicious Use of Surveillance Tools In Counterterrorism Efforts Act of 2009 or the JUSTICE Act - Revises requirements for the issuance of and public reporting on national security letters and for judicial review of requirements for nondisclosure of the receipt of a national security letter. Amends the Foreign Intelligence Surveillance Act of 1978 (FISA) to revise requirements for obtaining orders for business records in counterterrorism investigations. Amends the federal criminal code to reduce from 30 to 7 days the period for notifying the target
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Truth in Lending Clarification Act of 2009 [HB-4002]
Truth in Lending Clarification Act of 2009 - Amends the Truth in Lending Act concerning the mandatory 45-day advance notice of significant changes (including rate increases) under an open end consumer credit plan. Declares that such requirement does not prevent a creditor from putting into effect immediately any reduction in an annual percentage rate (APR), any decrease or elimination of any fee imposed upon a consumer, or any significant change in terms solely or primarily for the benefit of the consumer.
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Credit Card Fee Limitation and Accountability Act [HB-3977]
Credit Card Fee Limitation and Accountability Act - Amends the Truth in Lending Act, as amended by the Credit CARD Act of 2009, to prohibit a creditor from imposing upon an open-end consumer credit account any fee related to failure of the consumer to: (1) use the credit card to obtain an extension of credit; (2) carry an outstanding balance from any billing cycle to another; and (3) obtain a minimum amount of credit under such account during any specified period. Permits a consumer to: (1) cancel an account within 45 days of receiving notice of
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Credit Card Rate Freeze Act of 2009 [HB-3959]
Credit Card Rate Freeze Act of 2009 - Prohibits a creditor, during a specified nine-month period, from: (1) increasing any annual percentage rate (APR), fee, or finance charge applicable to any outstanding balance of any credit card account under an open end consumer credit plan; or (2) changing the terms governing repayment of any outstanding balance, except as permitted by the Credit Card Accountability Responsibility and Disclosure Act of 2009. Authorizes the Board of Governors of the Federal Reserve System to prescribe implementing regulations.
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Veterans' Small Business Assistance and Servicemembers Protection Act of 2009 [HB-3949]
Veterans' Small Business Assistance and Servicemembers Protection Act of 2009 - Title I: Small Business and Education Matters - Veterans Small Business Verification Act - (Sec. 101) Prohibits the Secretary of Veterans Affairs from including a small business in a Department of Veterans Affairs (VA)-maintained database of small businesses owned and controlled by veterans until the Secretary has verified that: (1) the small business is owned and controlled by veterans; and (2) if the small business owner claims to be a service-disabled veteran, that
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