Consumer Credit
US Congress 111th Congress
Overdraft Protection Act of 2009 [HB-3904]
Overdraft Protection Act of 2009 - Amends the Truth in Lending Act to prohibit a depository institution from engaging in unfair or deceptive acts or practices in connection with overdraft coverage, or in acts designed to evade the provisions of this Act. Requires each depository institution that provides overdraft coverage for transaction accounts to clearly and conspicuously disclose overdraft coverage fees. Subjects overdraft coverage fees to the consumer's written, electronic, or other consent. Requires a depository institution to provide specified
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Sponsored by: Rep. Janice Schakowsky
Referred To The House Committee On Financial Services. on 10/22/2009
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TARP Accountability Act of 2009 [HB-387]
TARP Accountability Act of 2009 - Amends the Federal Deposit Insurance Act (FDIA) to require inclusion within each report of condition filed by an insured depository institution which received assistance under the Troubled Asset Relief Program (TARP) the amount of any increase in new lending during the period covered by the report (or the amount of any reduction in any decrease in new lending) that is attributable to TARP assistance. Requires, in the alternative, that if the institution cannot accurately quantify the effect such assistance has
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Sponsored by: Rep. Al Green
Referred To The House Committee On Financial Services. on 01/09/2009
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CAR Act of 2009 [HB-385]
Consumer Auto Relief Act of 2009 or the CAR Act of 2009 - Amends the Internal Revenue Code to allow individual taxpayers a tax deduction for: (1) up to $7,500 of the purchase price of a new passenger automobile or light truck that is purchased in 2009; (2) interest paid on any loan to purchase such vehicles; and (3) state and local sales taxes paid on a vehicle purchase. Excludes from the gross income of lenders 50% of the interest paid on any consumer loan for the purchase of a new passenger automobile or light truck.
Sponsored by: Rep. Don Young
Sponsor Introductory Remarks On Measure. (cr H94) on 01/09/2009
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USA PATRIOT Amendments Act of 2009 [HB-3845]
USA PATRIOT Act Amendments Act of 2009 - Title I: USA PATRIOT Act Related Amendments - (Sec. 101) Amends the Foreign Intelligence Surveillance Act of 1978 (FISA) to require an ex parte order for electronic surveillance to contain specific information as to whether a surveillance target is a foreign power, an agent of a foreign power, or a specific individual. (Sec. 102) Amends the USA PATRIOT Improvement and Reauthorization Act of 2005 to extend until December 31, 2013, provisions authorizing: (1) roving electronic surveillance; and (2) the production
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Sponsored by: Rep. Henry Johnson
Committee On Intelligence (permanent) Discharged. on 01/29/2010
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TARP Reform and Accountability Act of 2009 [HB-384]
TARP Reform and Accountability Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to direct the Secretary of the Treasury to require specified depository institutions under the Troubled Asset Relief Program (TARP) to report periodically on their use of TARP assistance.Requires the Secretary to incorporate within the TARP assistance agreement how the funds are to be used and the benchmarks an institution must meet in using such funds.Requires federal banking regulatory agencies to examine annually the use of TARP funds made
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Sponsored by: Rep. Barney Frank
Received In The Senate And Read Twice And Referred To The Committee On Finance. on 01/22/2009
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To amend the Fair Credit Reporting Act to provide for an exclusion from Red Flag Guidelines for certain businesses. [HB-3763]
Amends the Fair Credit Reporting Act with respect to the duties of users of consumer reports who take adverse actions on the basis of information contained in such reports. Excludes any health care practice, accounting practice, or legal practice with 20 or fewer employees from the meaning of creditor subject to Red Flag Guidelines regarding identity theft promulgated by the proper federal financial regulatory agency. Excludes any other business which the Federal Trade Commission (FTC) determines: (1) knows all its customers or clients individually;
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Sponsored by: Rep. Michael Simpson
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 10/21/2009
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Expedited CARD Reform for Consumers Act of 2009 [HB-3639]
Expedited CARD Reform for Consumers Act of 2009 - (Sec. 2) Amends the Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act of 2009) to: (1) make Title I: Consumer Protection, Title II: Enhanced Consumer Disclosures, and Title III: Protection of Young Consumers effective as of the date of enactment of this Act; and (2) make February 22, 2010, the effective date of such titles for a depository institution with fewer than two million credit cards in circulation on the date of the enactment of the Credit CARD Act of
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Sponsored by: Rep. Raul Grijalva
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 12/23/2009
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Credit CARD Technical Corrections Act of 2009 [HB-3606]
Credit CARD Technical Corrections Act of 2009 - Amends the Truth in Lending Act, as amended by the Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act of 2009), to make a technical amendment with respect to the timing of payments related to open end consumer credit plans. Adds the phrase "a credit card account under" to the timing requirement to specify that a creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose, unless the creditor has adopted
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Sponsored by: Sen. Peter Welch
Signed By President. on 11/06/2009
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Credit CARD Act Effective Date Change Act [HB-3601]
Amends the Credit Card Accountability Responsibility and Disclosure Act of 2009 (also known as the Credit CARD Act of 2009) to make it effective upon its date of enactment (May 22, 2009), instead of nine months after such date.
Sponsored by: Rep. Nita Lowey
Referred To The House Committee On Financial Services. on 09/17/2009
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Eliminate Privacy Notice Confusion Act [HB-3506]
Eliminate Privacy Notice Confusion Act - Amends the Gramm-Leach-Bliley Act to exempt from its annual privacy policy notice requirement any financial institution which: (1) provides nonpublic personal information only in accordance with specified requirements; and (2) has not changed its policies and practices with regard to disclosing nonpublic personal information from those disclosed in the most recent disclosure sent to consumers.
Sponsored by: Rep. Leonard Lance
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 04/15/2010
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Small Business Credit Card Act of 2009 [HB-3457]
Small Business Credit Card Act of 2009 - Amends the Truth in Lending Act to cover any qualified small business as a consumer with respect to a credit card account under an open end credit plan (thereby extending credit card protections under such Act to small businesses). Defines "qualified small business" under the Act as any business concern having 50 or fewer employees, whether or not: (1) the credit card account is in the name of an individual or a business entity; and (2) any credit transaction involving such account is for business or personal
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Sponsored by: Rep. Janice Schakowsky
Referred To The House Committee On Financial Services. on 07/31/2009
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Medical Debt Relief Act of 2010 [HB-3421]
Medical Debt Relief Act of 2010 - Amends the Fair Credit Reporting Act to prohibit a consumer reporting agency from making any report containing information related to a fully paid or settled medical debt that had been characterized as delinquent, charged off, or in collection for credit reporting purposes which, from the date of payment or settlement, antedates the report by more than 45 calendar days.
Sponsored by: Rep. Raul Grijalva
Considered As Unfinished Business. (consideration: Cr H7274-7275) on 09/29/2010
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Consumer Protection and Regulatory Enhancement Act [HB-3310]
Consumer Protection and Regulatory Enhancement Act - Amends the Judicial Code to prescribe the venue for cases involving non-bank financial institutions. Amends federal bankruptcy law to prescribe procedures for the adjustment of the debts of a non-bank financial institution. Establishes the Market Stability and Capital Adequacy Board (Board) to: (1) monitor the interactions of various sectors of the financial system; and (2) identify risks that could endanger the stability and soundness of the system. Establishes in the executive branch the Financial
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Sponsored by: Rep. Steve Scalise
Referred To The Subcommittee On General Farm Commodities And Risk Management. on 06/22/2010
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Equal Employment for All Act [HB-3149]
Equal Employment for All Act - Amends the Fair Credit Reporting Act to prohibit a current or prospective employer from using a consumer report or an investigative consumer report, or from causing one to be procured, for either employment purposes or for making an adverse action, if the report contains information that bears upon the consumer's creditworthiness, credit standing, or credit capacity. Makes exceptions to such prohibition for employment: (1) which requires a national security or Federal Deposit Insurance Corporation (FDIC) clearance;
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Sponsored by: Rep. Raul Grijalva
Hearings Held By The Subcommittee On Financial Institutions And Consumer Credit Prior To Referral. on 09/23/2010
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Consumer Financial Protection Agency Act of 2009 [HB-3126]
Consumer Financial Protection Agency Act of 2009 - Establishes the Consumer Financial Protection Agency as an independent executive agency to regulate the provision of consumer financial products or services (products or services) under: (1) this Act; (2) consumer finance laws including the Electronic Funds Transfer Act, the Equal Credit Opportunity Act, provisions of the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Home Mortgage Disclosure Act, the Real Estate Settlement Procedures Act, the Truth in Lending Act, and the
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Sponsored by: Rep. Henry Johnson
Reported (amended) By The Committee On Energy And Commerce. H. Rept. 111-367, Part I. on 12/09/2009
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Promoting Mortgage Responsibility Act [HB-2794]
Promoting Mortgage Responsibility Act - Amends the Truth in Lending Act to prohibit prepayment fees or penalties under any consumer credit transaction secured by the consumer's owner-occupied principal dwelling. Makes any prepayment penalty in violation of this prohibition unenforceable.
Sponsored by: Rep. Barbara Lee
Referred To The House Committee On Financial Services. on 06/10/2009
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Credit Card Fair Fee Act of 2009 [HB-2695]
Credit Card Fair Fee Act of 2009 - Sets forth a limited antitrust immunity to providers of covered electronic payment systems and merchants for negotiation of access rates and terms. Authorizes providers of a single covered electronic payment system (e.g. credit cards and/or debit cards) and merchants to jointly negotiate and agree upon rates and terms for access to such system. Provides immunity exceptions. Requires the rates and terms of a voluntarily negotiated access agreement to be the same for all merchants and participating providers, regardless
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Sponsored by: Rep. Mike Quigley
Committee Hearings Held. on 04/28/2010
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Payday Lending Reform Act of 2009 [HB-2563]
Payday Lending Reform Act of 2009 - Amends the Truth in Lending Act to require a creditor to make specified disclosures when making a payday loan to a consumer. Prohibits a creditor from making a payday loan to any consumer unless: (1) specified notices are posted conspicuously in the creditor's public lending area, or, if the loan is made using the Internet, fax or other means, posted conspicuously on the creditor's public internet site relating to any such payday loan; and (2) the creditor offers the consumer an extended repayment plan that meets
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Sponsored by: Rep. Alcee Hastings
Referred To The House Committee On Financial Services. on 05/21/2009
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To amend the Internal Revenue Code of 1986 to exclude from gross income discharges of personal indebtedness outside of bankruptcy. [HB-2445]
Amends the Internal Revenue Code to exclude from gross income qualified personal indebtedness. Defines "qualified personal indebtedness" as any indebtedness of an individual other than trade or business debts, student loans, mortgages, or debts discharged in bankruptcy.
Sponsored by: Rep. Ron Paul
Sponsor Introductory Remarks On Measure. (cr E1161) on 05/14/2009
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Credit Card Interchange Fees Act of 2009 [HB-2382]
Credit Card Interchange Fees Act of 2009 - Amends the Truth in Lending Act to prohibit specified electronic payment system network practices, including the imposition of: (1) additional charges on merchants and consumers for premium payment cards; (2) certain restrictions on merchants, including chargebacks for transactions on point of sale terminals that exceed the allowable amount on such devices; (3) restrictions upon network routing; (4) any requirement to meet a minimum number of transactions in any period; or (5) fees or a related adverse
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Sponsored by: Rep. James McGovern
Committee Hearings Held. on 10/08/2009