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May 12, 2009, 12:00 am ET - Amendment SA 1066 proposed by Senator Vitter to Amendment SA 1058.
May 13, 2009, 12:00 am ET - Considered by Senate.
May 13, 2009, 3:56 pm ET - Vitter Amdt. No. 1066

Full Text of this Amendment

SA 1066. Mr. VITTER submitted an amendment intended to be proposed to amendment SA 1058 proposed by Mr. Dodd (for himself and Mr. Shelby) to the bill H.R. 627, 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; as follows:

At the end of the bill, add the following:
SEC. __. FORMS OF ACCEPTABLE IDENTIFICATION FOR CREDIT CARD ISSUERS.
(a) In General.--Chapter 2 of the Truth in Lending Act (15 U.S.C. 1601 et seq.) is amended by inserting after section 127A the following new section:
``SEC. 127B. IDENTIFICATION AND VERIFICATION OF ACCOUNTHOLDERS.
``(a) In General.--Subject to the requirements of this section, the Board shall prescribe regulations setting forth the minimum standards for card issuers under open end credit plans and cardholders regarding the identity of the consumer, that shall apply in connection with the opening of such a credit card account.
``(b) Minimum Requirements.--The regulations required under subsection (a) shall, at a minimum, require card issuers to implement, and cardholders (after being given adequate notice) to comply with, reasonable procedures for--
``(1) verifying the identity of any person seeking to open a credit card account, to the extent reasonable and practicable;
``(2) maintaining records of the information used to verify a person's identity, including name, address, and other identifying information; and
``(3) consulting lists of known or suspected terrorists or terrorist organizations provided to the card issuer by any government agency, to determine whether a person seeking to open a credit card account appears on any such list.
``(c) Forms of Acceptable Identification.--A card issuer may not accept, for the purpose of verifying the identity of an individual seeking to open an account in accordance with this subsection, any form of identification of the individual, other than--
``(1) a social security card, accompanied by a photo identification card issued by the Federal Government or a State government;
``(2) a driver's license or identification card issued by a State, in the case of a State that is in compliance with title II of the REAL ID Act of 2005 (49 U.S.C. 30301 note);
``(3) a passport issued by the United States or a foreign government; or
``(4) a photo identification card issued by the Secretary of Homeland Security (acting through the Director of the United States Citizenship and Immigration Service).''.
(b) Effective Date.--Section 127B of the Truth in Lending Act, as added by this section, shall become effective 6 months after the date of enactment of this Act.


(As printed in the Congressional Record for the Senate on May 12, 2009.)