H.R.627 - Credit Cardholders' Bill of Rights Act of 2009 Sponsor: Carolyn Maloney / 111th Congress

Title
111th Congress - To amend the Truth in Lending Act to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan, and for other purposes. hidemore...
Summary
To amend the Truth in Lending Act to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan, and for other purposes. (by CRS) (by MAPLight.org)
Status
The bill has become law.

Customize

Customize the interests supporting and opposing this bill

To remove an interest, click the Remove button next to its name below this box.

To add an interest, choose one from this list:

To add an interest, click Support or Oppose.

You can share your customized pages with other people by sending them the URL for pages about this bill. Other MAPLight.org users will not see your customizations unless they use the URL you send them. To save your customizations for your next visit, create a free New Account, then Sign In.

Done

Interests who did want this bill to become law included these interests and specific groups:

Interests who did not want this bill to become law included these interests and specific groups:

Contribution data provided by the Center for Responsive Politics (OpenSecrets.org)

Comments RSS feed

Making planning for the future easier by Emily Derenthal, Mar 23, 2009 (10:24pm)

The Credit Cardholders’ Bill of Rights (H.R. 627) will protect credit cardholders from unexpected and unanticipated changes in their credit card policies. Small business as well as individuals ought to expect a certain level of stability as well as clear communication from lending institutions so they can make informed financial decisions. In the current economic climate, this is more important than ever.

Reply to this comment
Reply to this comment close
[ Tags ]
[ Tags ] close
[ Spam ]
[ Spam ] close

Mixed Interpretations by Anonymous, Aug 26, 2009 (10:32pm)

I like “Money Near Vote” feature, but one needs to be careful interpreting reports. As your list with the “Credit Card Holders Bill of Rights” shows, banks and credit unions donated to representatives in both parties. I doubt seriously the donors expected favorable votes for their contributions or they wouldn’t have donated to Democrats. However, I could see how an opponent of an incumbent during a campaign could infer the incumbent’s vote was for sale. That may not always be the case.

Reply to this comment
Reply to this comment close
[ Tags ]
[ Tags ] close
[ Spam ]
[ Spam ] close

vote seems to depend on party, not so much on money by Anonymous, Aug 30, 2009 (12:27pm)

I used contributions from up to 30 days back, the max allowed by the tool. First I summed contributions by Legislator. There were 115 Dems all voted Yes. 108 Republicans, 57 voted Yes, 48 voted No. Average contribution to the Dems was a little less than $2,000, while the average contribution to the Repubs was a little more than $2,500.

So there seems to be a big party effect. If the Banks figured there was no point in trying to influence the Dems, maybe the strategy was to throw money at the Repubs and hope to get some to vote No. That is possible I’m not sure how to test that.

One thing you can look at is to see whether on average within the Repub group more money was given to No votes than Yes votes.

Using the tool we see that avg contribution to the Repub No votes was about $2,820, and to the Repub Yes votes was $2,460. The standard deviations and all that give a t-stat of .78, or a one tailed p-value of .22 (I used an online t-stat calculator).

This does not suggest a significant money effect.

However, the tool says there were 357 Yes votes and 70 No votes, but our data with contributions only include 223 votes total. This suggests there were a lot of votes not associated with Bank contributions. These “zero” money votes were not included in the calculation of the averages or t-stats. They need to be included in the tool in order to analyze the effect of money.

Reply to this comment
Reply to this comment close
[ Tags ]
[ Tags ] close
[ Spam ]
[ Spam ] close