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Full Text of this Amendment

SA 1093. Mr. LEVIN (for himself and Mrs. McCaskill) 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:

On page 14, lines 20 and 21, after ``creditor.'' insert the following:
``(m) No Interest Charges on Fees.--With respect to a credit card account under an open end consumer credit plan, if the creditor imposes a transaction fee on the obligor, including a cash advance fee, late fee, over-the-limit fee, or balance transfer fee, the creditor may not impose or collect interest with respect to such fee amount.''.


(As printed in the Congressional Record for the Senate on May 13, 2009.)