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May 13, 2009, 12:00 am ET - Amendment SA 1079 proposed by Senator Landrieu to Amendment SA 1058.
May 14, 2009, 12:00 am ET - Considered by Senate.
May 19, 2009, 12:00 am ET - Considered by Senate.
May 19, 2009, 12:00 am ET - Point of order raised in Senate with respect to amendment SA 1079.
May 19, 2009, 12:00 am ET - Amendment SA 1079 ruled non-germane by the chair.

Full Text of this Amendment

SA 1079. Ms. LANDRIEU (for herself, Ms. SNOWE, Mr. CARDIN, Mrs. SHAHEEN, and Mr. BROWN) 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 V, add the following:
SEC. 503. EXTENDING TILA CREDIT CARD PROTECTIONS TO SMALL BUSINESSES.
(a) Definition of Consumer.--Section 103(h) of the Truth in Lending Act (15 U.S.C. 1602(h)) is amended--
(1) by inserting ``(1)'' after ``(h)''; and
(2) by adding at the end the following:
``(2) For purposes of any provision of this title relating to a credit card account under an open end credit plan, the term `consumer' includes any business concern having 50 or fewer employees, whether or not the credit account is in the name of the business entity or an individual, or whether or not a subject credit transaction is for business or personal purposes.''.
(b) Amendment to Exemptions.--
(1) IN GENERAL.--Section 104 of the Truth in Lending Act (15 U.S.C. 1603) is amended--
(A) in paragraph (1), by inserting after ``agricultural purposes'' the following: ``(other than a credit transaction under an open end credit plan in which the consumer is a small business having 50 or fewer employees)''; and
(B) in paragraph (4), by striking ``$25,000'' and inserting ``$50,000''.
(2) BUSINESS CREDIT CARD PROVISION.--Section 135 of the Truth in Lending Act (15 U.S.C. 1645) is amended by inserting after ``does not apply'' the following: ``with respect to any provision of this title relating to a credit card account under an open end credit plan in which the consumer is a small business having 50 or fewer employees or''.


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