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Full Text of this Amendment

SA 1074. Mr. MENENDEZ 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; which was ordered to lie on the table; as follows:

At the end of title III, add the following:
Section 140 of the Truth in Lending Act (15 U.S.C. 1650) is amended by adding at the end the following:
``(f) Gifts to Students Prohibited.--No card issuer or other creditor may offer any gift or other item to a student of a covered educational institution to induce such student to apply for or participate in an open end consumer credit plan offered by such card issuer or creditor.''.

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