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Full Text of this Amendment

SA 1102. 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:

On page 10, line 25, strike ``rule.''.'' and insert ``rule.
``(c) Universal Default.--In the case of any credit card account under an open end consumer credit plan, no creditor may increase any annual percentage rate, fee, or finance charge applicable to that account, based solely on a change in the credit risk of the consumer due to a single event relating to another account or other obligation of the consumer.''.

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