S. Amdt. 1058 - In the Nature of a Substitute.

111th Congress (2009-2010) View amendment details
Sponsor:
This is an amendment to H.R. 627 - Credit Card Accountability Responsibility and Disclosure Act of 2009
Senate Vote: Motion to Invoke Cloture on the Dodd Amdt. No. 1058

PASSED on May 19, 2009.

3/5 required to pass

voted YES: 92 voted NO: 2
5 voted present/not voting

Other Votes:

Credit Cardholders' Bill of Rights Act of 2009

H.R. 627 — 111th Congress (2009–2010)

Keywords
Credit, Consumers' Rights, Banking
Summary
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. (by CRS) (by CRS)
Learn More
At OpenCongress
Title
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.
Other Titles
  • Credit Cardholders' Bill of Rights Act of 2009
  • Credit Cardholders' Bill of Rights Act of 2009
  • Credit Cardholders' Bill of Rights Act of 2009
  • Credit Card Accountability Responsibility and Disclosure Act of 2009
  • Credit CARD Act of 2009
  • Credit Card Accountability Responsibility and Disclosure Act of 2009
  • Credit CARD Act of 2009
Sponsor
Carolyn B. Maloney
Co-Sponsors
Subjects
  • Finance and financial sector
  • Administrative law and regulatory procedures
  • Banking and financial institutions regulation
  • Consumer credit
  • Federal Reserve System
  • Government information and archives
  • Interest, dividends, interest rates
Related Bills
Major Actions
Introduced1/22/2009
Referred to Committee
Amendments (89 proposed)
Passed House4/30/2009
Passed Senate5/19/2009
Signed by President5/22/2009
Bill History
Chamber/CommitteeMotionDateResult
select this voteHouseOn agreeing to the Gutierrez amendment (A001) Agreed to by voice vote.4/30/2009PASSED by voice vote
select this voteHouseOn agreeing to the Frank (MA) amendment (A002) Agreed to by voice vote.4/30/2009PASSED by voice vote
select this voteHouseOn agreeing to the Gutierrez amendment (A004) Agreed to by voice vote.4/30/2009PASSED by voice vote
select this voteHouseOn agreeing to the Pingree (ME) amendment (A005) Agreed to by voice vote.4/30/2009PASSED by voice vote
select this voteHouseOn agreeing to the Polis (CO) amendment (A006) Agreed to by voice vote.4/30/2009PASSED by voice vote
select this voteHouseOn agreeing to the Jones amendment (A007) Agreed to by voice vote.4/30/2009PASSED by voice vote
select this voteHouseOn agreeing to the Hensarling amendment (A009) Failed by voice vote.4/30/2009DID NOT PASS by voice vote
select this voteHouseOn agreeing to the Hensarling amendment (A010) Failed by voice vote.4/30/2009DID NOT PASS by voice vote
select this voteHouseOn agreeing to the Minnick amendment (A011) Agreed to by voice vote.4/30/2009PASSED by voice vote
select this voteHouseOn agreeing to the Price (NC) amendment (A012) Agreed to by voice vote.4/30/2009PASSED by voice vote
select this voteHouseOn agreeing to the Gutierrez amendment (A013) Agreed to by voice vote.4/30/2009PASSED by voice vote
select this voteHouseOn agreeing to the Perriello amendment (A014) Agreed to by voice vote.4/30/2009PASSED by voice vote
select this voteHouseOn agreeing to the Schauer amendment (A015) Agreed to by voice vote.4/30/2009PASSED by voice vote
select this voteHouseOn agreeing to the Teague amendment (A016) Agreed to by voice vote.4/30/2009PASSED by voice vote
select this voteHouseOn agreeing to the Schock amendment (A017) Agreed to by voice vote.4/30/2009PASSED by voice vote
select this voteHouseAmendment 3 to H.R. 6274/30/2009This amendment PASSED the House
276 voted YES 154 voted NO 9 voted present/not voting
select this voteHouseAmendment 8 to H.R. 6274/30/2009This amendment PASSED the House
284 voted YES 149 voted NO 6 voted present/not voting
select this voteHouseOn Motion to Recommit with Instructions: H.R. 627 Credit Cardholders’ Bill of Rights Act of 20094/30/2009This motion DID NOT PASS the House
164 voted YES 263 voted NO 6 voted present/not voting
select this voteHouseOn Passage - House - H.R. 627 Credit Cardholders’ Bill of Rights Act of 20094/30/2009This bill PASSED the House
357 voted YES 70 voted NO 7 voted present/not voting
select this voteSenateCoburn Amdt. No. 10675/12/2009This amendment PASSED the Senate
67 voted YES 29 voted NO 3 voted present/not voting
select this voteSenateAmendment SA 1084 agreed to in Senate by Unanimous Consent.5/13/2009PASSED by voice vote
select this voteSenateAmendment SA 1104 agreed to in Senate by Unanimous Consent.5/13/2009PASSED by voice vote
select this voteSenateVitter Amdt. No. 10665/13/2009This amendment DID NOT PASS the Senate
28 voted YES 65 voted NO 6 voted present/not voting
select this voteSenateMotion to Waive CBA Sanders Amdt. No. 10625/13/2009This amendment DID NOT PASS the Senate
33 voted YES 60 voted NO 6 voted present/not voting
select this voteSenateMotion to Waive CBA Re: Gregg Amdt. No. 10855/13/2009This amendment DID NOT PASS the Senate
59 voted YES 35 voted NO 5 voted present/not voting
select this voteSenateAmendment SA 1058 agreed to in Senate by Unanimous Consent.5/19/2009PASSED by voice vote
select this voteSenateAmendment SA 1130 agreed to in Senate by Unanimous Consent.5/19/2009PASSED by voice vote
currently selectedSenateMotion to Invoke Cloture on the Dodd Amdt. No. 10585/19/2009This amendment PASSED the Senate
92 voted YES 2 voted NO 5 voted present/not voting
select this voteSenateOn Passage - Senate - H.R. 627 As Amended5/19/2009This bill PASSED the Senate
90 voted YES 5 voted NO 4 voted present/not voting
select this voteHouseConcur In All But Sec. 512 of Sen Amdt.: H.R. 627 Credit Cardholders’ Bill of Rights Act of 20095/20/2009This motion PASSED the House
361 voted YES 64 voted NO 8 voted present/not voting
select this voteHouseConcur In Sec. 512 of Sen Amdt.: H.R. 627 Credit Cardholders’ Bill of Rights Act of 20095/20/2009This motion PASSED the House
279 voted YES 147 voted NO 7 voted present/not voting
ActionDateDescription
Introduced1/22/2009
1/22/2009Sponsor introductory remarks on measure. (CR E122)
1/22/2009Referred to the House Committee on Financial Services.
3/19/2009Referred to the Subcommittee on Financial Institutions and Consumer Credit.
3/19/2009Subcommittee Hearings Held.
4/01/2009Subcommittee Consideration and Mark-up Session Held.
4/02/2009Subcommittee Consideration and Mark-up Session Held.
4/02/2009Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote .
4/22/2009Committee Consideration and Mark-up Session Held.
Put on a legislative calendar4/22/2009Ordered to be Reported (Amended) by the Yeas and Nays: 48 - 19.
4/28/2009Reported (Amended) by the Committee on Financial Services. H. Rept. 111-88.
Put on a legislative calendar4/28/2009Placed on the Union Calendar, Calendar No. 41.
4/29/2009Consideration initiated pursuant to a previous order.
4/29/2009Considered pursuant to a previous order.
4/29/2009The House resolved into Committee of the Whole on the state of the Union pursuant to special order.
4/29/2009The Speaker designated the Honorable Henry Cuellar to act as Chairman of the Committee.
4/29/2009GENERAL DEBATE - Pursuant to a previous special order, the Committee of the Whole proceeded with one hour of general debate on H.R. 627.
4/29/2009Committee of the Whole House on the state of the Union rises leaving H.R. 627 as unfinished business.
4/29/2009Rules Committee Resolution H. Res. 379 Reported to House. Rule provides for consideration of H.R. 627. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill. All points of order against the committee amendment in the nature of a substitute are waived except those arising under clause 10 of rule XXI.
Put on a legislative calendar4/30/2009Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 55.
4/30/2009Rule H. Res. 379 passed House.
4/30/2009Considered as unfinished business.
4/30/2009The House resolved into Committee of the Whole House on the state of the Union for further consideration.
4/30/2009FURTHER CONSIDERATION OF H.R. 627 - Pursuant to the provisions of H.Res. 379, the Committee of the Whole resumed consideration of H.R. 627 and the amendments made in order thereto by the rule.
4/30/2009Amendment (A001) offered by Mr. Gutierrez.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 20 minutes of debate on the Gutierrez amendment number 1.
select this voteVote4/30/2009On agreeing to the Gutierrez amendment (A001) Agreed to by voice vote.
4/30/2009Amendment (A002) offered by Mr. Frank (MA).
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 10 minutes of debate on the Frank amendment.
select this voteVote4/30/2009On agreeing to the Frank (MA) amendment (A002) Agreed to by voice vote.
4/30/2009Amendment (A003) offered by Ms. Slaughter.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 10 minutes of debate on the Slaughter amendment.
4/30/2009POSTPONED PROCEEDINGS - At the conclusion of debate on the Slaughter amendment, the Chair put the question on adoption of the amendment and by voice vote, announced the ayes had prevailed. Mr. Neugebauer demanded a recorded vote and the Chair postponed further proceedings until later in the legislative day.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 10 minutes of debate on the Gutierrez amendment number 4.
4/30/2009Amendment (A004) offered by Mr. Gutierrez.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 10 minutes of debate on the Pingree(ME) amendment.
select this voteVote4/30/2009On agreeing to the Gutierrez amendment (A004) Agreed to by voice vote.
4/30/2009Amendment (A005) offered by Ms. Pingree (ME).
select this voteVote4/30/2009On agreeing to the Pingree (ME) amendment (A005) Agreed to by voice vote.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 10 minutes of debate on the Polis amendment.
4/30/2009Amendment (A006) offered by Mr. Polis (CO).
select this voteVote4/30/2009On agreeing to the Polis (CO) amendment (A006) Agreed to by voice vote.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 10 minutes of debate on the Jones amendment.
4/30/2009Amendment (A007) offered by Mr. Jones.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 10 minutes of debate on the Maloney amendment.
select this voteVote4/30/2009On agreeing to the Jones amendment (A007) Agreed to by voice vote.
4/30/2009Amendment (A008) offered by Mrs. Maloney.
4/30/2009POSTPONED PROCEEDINGS - At the conclusion of debate on the Maloney amendment, the Chair put the question on adoption of the amendment and by voice vote, announced the ayes had prevailed. Mr. Neugebauer demanded a recorded vote and the Chair postponed further proceedings until later in the legislative day.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 10 minutes of debate on the Hensarling amendment number 9.
4/30/2009Amendment (A009) offered by Mr. Hensarling.
select this voteVote4/30/2009On agreeing to the Hensarling amendment (A009) Failed by voice vote.
4/30/2009Amendment (A010) offered by Mr. Hensarling.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 10 minutes of debate on the Hensarling amendment number 10.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 10 minutes of debate on the Minnick amendment.
select this voteVote4/30/2009On agreeing to the Hensarling amendment (A010) Failed by voice vote.
4/30/2009Amendment (A011) offered by Mr. Minnick.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 10 minutes of debate on the Price(NC) amendment.
select this voteVote4/30/2009On agreeing to the Minnick amendment (A011) Agreed to by voice vote.
4/30/2009Amendment (A012) offered by Mr. Price (NC).
select this voteVote4/30/2009On agreeing to the Price (NC) amendment (A012) Agreed to by voice vote.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 10 minutes of debate on the Gutierrez amendment number 13.
4/30/2009Amendment (A013) offered by Mr. Gutierrez.
select this voteVote4/30/2009On agreeing to the Gutierrez amendment (A013) Agreed to by voice vote.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 10 minutes of debate on the Perriello amendment.
4/30/2009Amendment (A014) offered by Mr. Perriello.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee on the Whole proceeded with 10 minutes of debate on the Schauer amendment.
select this voteVote4/30/2009On agreeing to the Perriello amendment (A014) Agreed to by voice vote.
4/30/2009Amendment (A015) offered by Mr. Schauer.
select this voteVote4/30/2009On agreeing to the Schauer amendment (A015) Agreed to by voice vote.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 10 minutes of debate on the Teague amendment.
4/30/2009Amendment (A016) offered by Mr. Teague.
4/30/2009DEBATE - Pursuant to the provisions of H.Res. 379, the Committee of the Whole proceeded with 10 minutes of debate on the Schock amendment.
select this voteVote4/30/2009On agreeing to the Teague amendment (A016) Agreed to by voice vote.
4/30/2009Amendment (A017) offered by Mr. Schock.
select this voteVote4/30/2009On agreeing to the Schock amendment (A017) Agreed to by voice vote.
select this voteVote4/30/2009Amendment 3 to H.R. 627
select this voteVote4/30/2009Amendment 8 to H.R. 627
4/30/2009The House rose from the Committee of the Whole House on the state of the Union to report H.R. 627.
4/30/2009The previous question was ordered pursuant to the rule.
4/30/2009The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.
4/30/2009Mr. Roskam moved to recommit with instructions to Financial Services.
4/30/2009Floor summary: DEBATE - The House proceeded with 10 minutes of debate on the Roskam motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to add a section entitled Trigger for Enactment.
4/30/2009The previous question on the motion to recommit with instructions was ordered without objection.
select this voteVote4/30/2009On Motion to Recommit with Instructions: H.R. 627 Credit Cardholders’ Bill of Rights Act of 2009
select this voteHouse Vote on Passage4/30/2009On Passage - House - H.R. 627 Credit Cardholders’ Bill of Rights Act of 2009
4/30/2009The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 627.
5/06/2009Motion to proceed to consideration of measure made in Senate.
5/06/2009Cloture motion on the motion to proceed to the measure presented in Senate.
5/06/2009Motion to proceed to consideration of measure withdrawn in Senate.
5/07/2009Cloture motion on the motion to proceed to the measure withdrawn by unanimous consent in Senate.
5/11/2009Measure laid before Senate by unanimous consent.
5/11/2009Amendment SA 1058 proposed by Senator Dodd.
5/12/2009Considered by Senate.
5/12/2009Considered by Senate.
5/12/2009Amendment SA 1062 proposed by Senator Sanders to Amendment SA 1058.
5/12/2009Amendment SA 1066 proposed by Senator Vitter to Amendment SA 1058.
5/12/2009Amendment SA 1068 proposed by Senator Coburn.
5/12/2009Proposed amendment SA 1068 withdrawn in Senate.
5/12/2009Amendment SA 1084 proposed by Senator Gillibrand to Amendment SA 1058.
5/12/2009Amendment SA 1085 proposed by Senator McConnell for Senator Gregg to Amendment SA 1058.
5/12/2009Amendment SA 1067 proposed by Senator Coburn to Amendment SA 1058.
select this voteVote5/12/2009Coburn Amdt. No. 1067
5/13/2009Considered by Senate.
5/13/2009Cloture motion on the bill presented in Senate.
5/13/2009Cloture motion on amendment SA 1058 presented in Senate.
5/13/2009Amendment SA 1062 ruled out of order by the chair.
5/13/2009Considered by Senate.
5/13/2009Amendment SA 1079 proposed by Senator Landrieu to Amendment SA 1058.
5/13/2009Considered by Senate.
select this voteVote5/13/2009Amendment SA 1084 agreed to in Senate by Unanimous Consent.
5/13/2009Amendment SA 1085 ruled out of order by the chair.
5/13/2009Amendment SA 1104 proposed by Senator Isakson to Amendment SA 1084.
select this voteVote5/13/2009Amendment SA 1104 agreed to in Senate by Unanimous Consent.
5/13/2009Amendment SA 1107 proposed by Senator Collins to Amendment SA 1058.
5/13/2009Considered by Senate.
5/13/2009Considered by Senate.
5/13/2009Point of order raised in Senate with respect to amendment SA 1062.
5/13/2009Considered by Senate.
5/13/2009Point of order raised in Senate with respect to amendment SA 1085.
select this voteVote5/13/2009Vitter Amdt. No. 1066
select this voteVote5/13/2009Motion to Waive CBA Sanders Amdt. No. 1062
select this voteVote5/13/2009Motion to Waive CBA Re: Gregg Amdt. No. 1085
5/14/2009Considered by Senate.
5/14/2009Cloture motion on the bill withdrawn by unanimous consent in Senate.
5/14/2009Considered by Senate.
5/14/2009Considered by Senate.
5/14/2009Considered by Senate.
5/14/2009Amendment SA 1126 proposed by Senator Lincoln to Amendment SA 1107.
5/19/2009Considered by Senate.
5/19/2009Message on Senate action sent to the House.
select this voteVote5/19/2009Amendment SA 1058 agreed to in Senate by Unanimous Consent.
5/19/2009Amendment SA 1079 ruled non-germane by the chair.
5/19/2009Amendment SA 1107 ruled non-germane by the chair.
5/19/2009SA 1126 fell when SA 1107 was ruled non-germane.
5/19/2009Amendment SA 1130 proposed by Senator Dodd to Amendment SA 1058.
select this voteVote5/19/2009Amendment SA 1130 agreed to in Senate by Unanimous Consent.
5/19/2009Considered by Senate.
5/19/2009Considered by Senate.
5/19/2009Point of order raised in Senate with respect to amendment SA 1079.
5/19/2009Considered by Senate.
5/19/2009Point of order raised in Senate with respect to amendment SA 1107.
5/19/2009Considered by Senate.
currently selectedVote5/19/2009Motion to Invoke Cloture on the Dodd Amdt. No. 1058
select this voteSenate Vote on Passage5/19/2009On Passage - Senate - H.R. 627 As Amended
Presented to President5/20/2009Cleared for White House.
5/20/2009Mr. Frank (MA) moved that the House agree to the Senate amendment.
5/20/2009DEBATE - Puruant to the provisions of H. Res. 456, the House proceeded with one hour of debate on the motion to agree to the Senate amendment to H.R. 627. Pursuant to the provisions of H. Res. 456 and at the conclusion of debate on the motion, the Chair will put the question in divided portions.
5/20/2009The previous question was ordered pursuant to the rule.
select this voteVote5/20/2009Concur In All But Sec. 512 of Sen Amdt.: H.R. 627 Credit Cardholders’ Bill of Rights Act of 2009
select this voteVote5/20/2009Concur In Sec. 512 of Sen Amdt.: H.R. 627 Credit Cardholders’ Bill of Rights Act of 2009
5/20/2009Pursuant to the provisions of H. Res. 456, the House is considered to have agreed to the Senate amendment.
Presented to President5/21/2009Presented to President.
Signed5/22/2009Signed by President.
Enacted5/22/2009Became Public Law No: 111-24.
NumberSponsorDate OfferedStatus
select this voteH. Amdt. 90Gutiérrez, Luis [D-IL4]April 30, 2009Passed by voice vote on April 30, 2009.

Amendment allows issuers to charge consumers for expedited payments by telephone when consumers request such an expedited payment; makes technical corrections; requires that all credit card offers notify prospective applicants that excessive credit applications can adversely affect their credit rating; directs the Board of Governors of the Federal Reserve to suggest appropriate guidelines for creditors to supply cardholders with information regarding the availability of legitimate and accredited credit counseling services; requires all written information, provisions, and terms in or on any application, solicitation, contract, or agreement for any credit card account under an open end consumer credit to appear in no less than 12 point font; and requires that stores who are self-issuers of credit cards display a large visible sign at counters with the same information that is required to be disclosed on the application itself.

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select this voteH. Amdt. 91Frank, Barney [D-MA4]April 30, 2009Passed by voice vote on April 30, 2009.

Amendment requires the Federal Reserve 1) to review the consumer credit card market, including through solicitation of public comment, and report to Congress every two years; 2) publish a summary of this review in the Federal Register, along with proposed regulatory changes (or an explanation for why no such changes are proposed). The amendment also requires the Federal banking agencies and the FTC to submit to the Federal Reserve, for inclusion in the Federal Reserve's annual report to Congress, information about the agencies' supervisory and enforcement activities related to credit card issuers' compliance with consumer protection laws.

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select this voteH. Amdt. 92Slaughter, Louise [D-NY25]April 30, 2009Passed by roll call vote on April 30, 2009.

Amendment sets underwriting standards for student credit cards, including limiting credit lines to the greater of 20 percent of a students' annual income or $500 without a co-signer and requiring creditors to obtain a proof of income, income history, and credit history from college students before approving credit applications.

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select this voteH. Amdt. 93Gutiérrez, Luis [D-IL4]April 30, 2009Passed by voice vote on April 30, 2009.

Amendment requires credit card issuers to allocate payments in excess of the minimum payment to the portion of the remaining balance with the highest outstanding APR first, and then to any remaining balances in descending order, eliminating the pro rata option.

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select this voteH. Amdt. 94Pingree, Chellie [D-ME1]April 30, 2009Passed by voice vote on April 30, 2009.

Amendment requires the Chair of the Federal Reserve to submit a report on the level of implementation of this bill every 90 days until the Chair can report full industry implementation.

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select this voteH. Amdt. 95Polis, Jared [D-CO2]April 30, 2009Passed by voice vote on April 30, 2009.

Amendment clarifies that minors are allowed to have a credit card in their name on their parent or legal guardian's account.

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select this voteH. Amdt. 96Jones, Walter [R-NC3]April 30, 2009Passed by voice vote on April 30, 2009.

Amendment requires the Federal Reserve Board, in consultation with the Federal Trade Commission and other agencies, to establish regulations that would allow estate administrators to resolve outstanding credit balances in a timely manner.

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select this voteH. Amdt. 97Maloney, Carolyn [D-NY12]April 30, 2009Passed by roll call vote on April 30, 2009.

Amendment requires credit cardholders to opt in to receive over-the-limit protection on their credit card in order for a credit card company to charge an over-the-limit fee. The amendment also allows for transactions that go over the limit to be completed for operational reasons as long as they are of a small amount. Lastly, the credit card company is not allowed to charge a fee.

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select this voteH. Amdt. 98Hensarling, Jeb [R-TX5]April 30, 2009Failed by voice vote on April 30, 2009.

Amendment sought to allow issuers to raise rates on existing balances if they provided consumers clear notification 90 days in advance, provided that the issuer had previously specified this ability to consumers in their contract and at least once every year thereafter.

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select this voteH. Amdt. 99Hensarling, Jeb [R-TX5]April 30, 2009Failed by voice vote on April 30, 2009.

Amendment sought to allow creditors to use retroactive rate increases, universal default, and "double cycle billing" practices as long as they offer at least one card option that does not have those billing features to all of their existing customers.

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select this voteH. Amdt. 100Minnick, Walter [D-ID1]April 30, 2009Passed by voice vote on April 30, 2009.

Amendment provides that the amount of a balance following a notice of a rate increase would be protected from the rate of increase as of the 7-day mark instead of the 14-day mark.

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select this voteH. Amdt. 101Price, David [D-NC4]April 30, 2009Passed by voice vote on April 30, 2009.

Amendment requires credit card issuers to provide enhanced disclosure to consumers regarding minimum payments, including a written Minimum Payment Warning statement on all monthly statements as well as information regarding the monthly payment amount and total cost that would be required for the consumer to eliminate the outstanding balance in 12, 24 and 36 months; and requires credit card issuers to provide a toll-free telephone number at which the consumer may receive information about accessing credit counseling and debt management services.

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select this voteH. Amdt. 102Gutiérrez, Luis [D-IL4]April 30, 2009Passed by voice vote on April 30, 2009.

Amendment requires card issuers to notify cardholders 30 days in advance before closing their accounts; provide the reason for the account closure; provide options for keeping the account open; make programs available to repay the balance; and provide the resulting impact on cardholders credit scores.

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select this voteH. Amdt. 103Perriello, Thomas [D-VA5]April 30, 2009Passed by voice vote on April 30, 2009.

Amendment requires a 6-month period for a promotional rate for credit cards before the standard rate may be increased.

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select this voteH. Amdt. 104Schauer, Mark [D-MI7]April 30, 2009Passed by voice vote on April 30, 2009.

Amendment requires creditors to post their credit card written agreements on their websites and requires the Federal Reserve Board to compile and report those agreements on its website.

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select this voteH. Amdt. 105Teague, Harry [D-NM2]April 30, 2009Passed by voice vote on April 30, 2009.

Amendment restricts credit card issuers from making adverse reports to credit rating agencies regarding deployed military service members and disabled veterans during the first two years of their disability.

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select this voteH. Amdt. 106Schock, Aaron [R-IL18]April 30, 2009Passed by voice vote on April 30, 2009.

Amendment allows consumers who have not activated an issued credit card within 45 days, to contact the issuing institution to cancel the card and have it removed from their credit report entirely. If, after 45 days, the card has not been activated, it will be automatically removed from any such report.

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currently selectedS. Amdt. 1058Dodd, Christopher [D-CT]May 11, 2009Passed by roll call vote on May 19, 2009.

In the nature of a substitute.

Actions

May 11, 2009, 12:00 am ET - Amendment SA 1058 proposed by Senator Dodd.
May 12, 2009, 12:00 am ET - Considered by Senate.
May 13, 2009, 12:00 am ET - Considered by Senate.
May 13, 2009, 12:00 am ET - Cloture motion on amendment SA 1058 presented in Senate.
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 - Amendment SA 1058 agreed to in Senate by Unanimous Consent.
May 19, 2009, 12:18 pm ET - Motion to Invoke Cloture on the Dodd Amdt. No. 1058

Full Text of this Amendment

SA 1058. Mr. DODD (for himself and Mr. SHELBY) proposed an amendment 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:

Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``Credit Card Accountability Responsibility and Disclosure Act of 2009'' or the ``Credit CARD Act of 2009''.
(b) Table of Contents.--
The table of contents for this Act is as follows:

Sec..1..Short title; table of contents.
Sec..2..Regulatory authority.
Sec..3..Effective date.
TITLE I--CONSUMER PROTECTION

Sec..101..Protection of credit cardholders.
Sec..102..Limits on fees and interest charges.
Sec..103..Use of terms clarified.
Sec..104..Application of card payments.
Sec..105..Standards applicable to initial issuance of subprime or ``fee harvester'' cards.
Sec..106..Rules regarding periodic statements.
Sec..107..Enhanced penalties.
Sec..108..Clerical amendments.
TITLE II--ENHANCED CONSUMER DISCLOSURES

Sec..201..Payoff timing disclosures.
Sec..202..Requirements relating to late payment deadlines and penalties.
Sec..203..Renewal disclosures.
Sec..204..Internet posting of credit card agreements.
TITLE III--PROTECTION OF YOUNG CONSUMERS

Sec..301..Extensions of credit to underage consumers.
Sec..302..Protection of young consumers from prescreened credit offers.
Sec..303..Issuance of credit cards to certain college students.
TITLE IV--GIFT CARDS

Sec..401..General-use prepaid cards, gift certificates, and store gift cards.
Sec..402..Relation to State laws.
Sec..403..Effective date.
TITLE V--MISCELLANEOUS PROVISIONS

Sec..501..Study and report on interchange fees.
Sec..502..Board review of consumer credit plans and regulations.
SEC. 2. REGULATORY AUTHORITY.
The Board of Governors of the Federal Reserve System (in this Act referred to as the ``Board'') may issue such rules and publish such model forms as it considers necessary to carry out this Act and the amendments made by this Act.
SEC. 3. EFFECTIVE DATE.
This Act and the amendments made by this Act shall become effective 9 months after the date of enactment of this Act, except as otherwise specifically provided in this Act.
TITLE I--CONSUMER PROTECTION


SEC. 101. PROTECTION OF CREDIT CARDHOLDERS.
(a) Advance Notice of Rate Increase and Other Changes Required.--
(1) AMENDMENT TO TILA.--Section 127 of the Truth in Lending Act (15 U.S.C. 1637) is amended by adding at the end the following:
``(i) Advance Notice of Rate Increase and Other Changes Required.--
``(1) ADVANCE NOTICE OF INCREASE IN INTEREST RATE REQUIRED.--In the case of any credit card account under an open end consumer credit plan, a creditor shall provide a written notice of an increase in an annual percentage rate (other than an increase due to the expiration of an introductory annual percentage rate, or due solely to a change in another rate of interest to which such rate is indexed) not later than 45 days prior to the effective date of the increase.
``(2) ADVANCE NOTICE OF OTHER SIGNIFICANT CHANGES REQUIRED.--In the case of any credit card account under an open end consumer credit plan, a creditor shall provide a written notice of any significant change, as determined by rule of the Board, in the terms (including an increase in any fee or finance charge, other than as provided in paragraph (1)) of the cardholder agreement between the creditor and the obligor, not later than 45 days prior to the effective date of the change.
``(3) NOTICE OF RIGHT TO CANCEL.--Each notice required by paragraph (1) or (2) shall be made in a clear and conspicuous manner, and shall contain a brief statement of the right of the obligor to cancel the account pursuant to rules established by the Board before the effective date of the subject rate increase or other change.
``(4) RULE OF CONSTRUCTION.--Closure or cancellation of an account by the obligor shall not constitute a default under an existing cardholder agreement, and shall not trigger an obligation to immediately repay the obligation in full or through a method that is less beneficial to the obligor than one of the methods described in section 171(c)(2), or the imposition of any other penalty or fee.''.
(2) EFFECTIVE DATE.--Notwithstanding section 3, section 127(i) of the Truth in Lending Act, as added by this subsection, shall become effective 90 days after the date of enactment of this Act.
(b) Retroactive Increase and Universal Default Prohibited.--Chapter 4 of the Truth in Lending Act (15 U.S.C. 1666 et seq.) is amended--
(1) by redesignating section 171 as section 173; and
(2) by inserting after section 170 the following:
``SEC. 171. LIMITS ON INTEREST RATE, FEE, AND FINANCE CHARGE INCREASES APPLICABLE TO OUTSTANDING BALANCES.
``(a) In General.--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 any outstanding balance, except as permitted under subsection (b).
``(b) Exceptions.--The prohibition under subsection (a) shall not apply to--
``(1) an increase in an annual percentage rate upon the expiration of a specified period of time, provided that--
``(A) prior to commencement of that period, the creditor disclosed to the consumer, in a clear and conspicuous manner, the length of the period and the annual percentage rate that would apply after expiration of the period;
``(B) the increased annual percentage rate does not exceed the rate disclosed pursuant to subparagraph (A); and
``(C) the increased annual percentage rate is not applied to transactions that occurred prior to commencement of the period;
``(2) an increase in a variable annual percentage rate, fee, or finance charge in accordance with a credit card agreement that provides for changes according to an index or formula;
``(3) an increase due to the failure of the obligor to comply with the terms of a workout or temporary hardship arrangement, provided that the annual percentage rate, fee, or finance charge applicable to a category of transactions following any such increase does not exceed the rate, fee, or finance charge that applied to that category of transactions prior to commencement of the arrangement; or
``(4) an increase due solely to the fact that a minimum payment by the obligor has not been received by the creditor within 60 days after the due date for such payment, provided that the creditor shall--
``(A) include, together with the notice of such increase required under section 127(i), a clear and conspicuous written statement of the reason for the increase and that the increase will terminate not later than 6 months after the date on which it is imposed, if the creditor receives the required minimum payments from the obligor during that period; and
``(B) terminate such increase not later than 6 months after the date on which it is imposed, if the creditor receives the required minimum payments during that period.
``(c) Repayment of Outstanding Balance.--
``(1) IN GENERAL.--The creditor shall not change the terms governing the repayment of any outstanding balance, except that the creditor may provide the obligor with one of the methods described in paragraph (2) of repaying any outstanding balance, or a method that is no less beneficial to the obligor than one of those methods.
``(2) METHODS.--The methods described in this paragraph are--
``(A) an amortization period of not less than 5 years, beginning on the effective date of the increase set forth in the notice required under section 127(i); or
``(B) a required minimum periodic payment that includes a percentage of the outstanding balance that is equal to not more than twice the percentage required before the effective date of the increase set forth in the notice required under section 127(i).
``(d) Outstanding Balance Defined.--For purposes of this section, the term `outstanding balance' means the amount owed on a credit card account under an open end consumer credit plan as of the end of the 14th day after the date on which the creditor provides notice of an increase in the annual percentage rate, fee, or finance charge in accordance with section 127(i).''.
(c) Interest Rate Reduction on Open End Consumer Credit Plans.--Chapter 3 of the Truth in Lending Act (15 U.S.C. 1661 et seq.) is amended by adding at the end the following:
``SEC. 148. INTEREST RATE REDUCTION ON OPEN END CONSUMER CREDIT PLANS.
``(a) In General.--If a creditor increases the annual percentage rate applicable to a credit card account under an open end consumer credit plan, based on factors including the credit risk of the obligor, market conditions, or other factors, the creditor shall consider changes in such factors in subsequently determining whether to reduce the annual percentage rate for such obligor.
``(b) Requirements.--With respect to any credit card account under an open end consumer credit plan, the creditor shall--
``(1) maintain reasonable methodologies for assessing the factors described in subsection (a);
``(2) not less frequently than once every 6 months, review accounts as to which the annual percentage rate has been increased since January 1, 2009, to assess whether such factors have changed (including whether any risk has declined);
``(3) reduce the annual percentage rate previously increased when a reduction is indicated by the review; and
``(4) in the event of an increase in the annual percentage rate, provide in the written notice required under section 127(i) a statement of the reasons for the increase.
``(c) Rule of Construction.--This section shall not be construed to require a reduction in any specific amount.
``(d) Rulemaking.--The Board shall issue final rules not later than 9 months after the date of enactment of this section to implement the requirements of and evaluate compliance with this section, and subsections (a), (b), and (c) shall become effective 15 months after that date of enactment.''.
(d) Introductory and Promotional Rates.--Chapter 4 of the Truth in Lending Act (15 U.S.C. 1666 et seq.) is amended by inserting after section 171, as amended by this Act, the following:
``SEC. 172. ADDITIONAL LIMITS ON INTEREST RATE INCREASES.
``(a) Limitation on Increases Within First Year.--Except in the case of an increase described in paragraph (1) or (2) of section 171(b), no increase in any annual percentage rate, fee, or finance charge on any credit card account under an open end consumer credit plan shall be effective before the end of the 1-year period beginning on the date on which the account is opened.
``(b) Promotional Rate Minimum Term.--No increase in any annual percentage rate applicable to a credit card account under an open end consumer credit plan that is a promotional rate (as that term is defined by the Board) shall be effective before the end of the 6-month period beginning on the date on which the promotional rate takes effect, subject to such reasonable exceptions as the Board may establish, by rule.''.
(e) Clerical Amendment.--The table of sections for chapter 4 of the Truth in Lending Act is amended by striking the item relating to section 171 and inserting the following:

``171. Limits on interest rate, fee, and finance charge increases applicable to outstanding balances.
``172. Additional limits on interest rate increases.
``173. Applicability of State laws.''.
SEC. 102. LIMITS ON FEES AND INTEREST CHARGES.
(a) In General.--Section 127 of the Truth in Lending Act (15 U.S.C. 1637) is amended by adding at the end the following:
``(j) Prohibition on Penalties for On-Time Payments.--
``(1) PROHIBITION ON DOUBLE-CYCLE BILLING AND PENALTIES FOR ON-TIME PAYMENTS.--Except as provided in paragraph (2), a creditor may not impose any finance charge on a credit card account under an open end consumer credit plan as a result of the loss of any time period provided by the creditor within which the obligor may repay any portion of the credit extended without incurring a finance charge, with respect to--
``(A) any balances for days in billing cycles that precede the most recent billing cycle; or
``(B) any balances or portions thereof in the current billing cycle that were repaid within such time period.
``(2) EXCEPTIONS.--Paragraph (1) does not apply to--
``(A) any adjustment to a finance charge as a result of the resolution of a dispute; or
``(B) any adjustment to a finance charge as a result of the return of a payment for insufficient funds.
``(k) Opt-in Required for Over-the-Limit Transactions if Fees Are Imposed.--
``(1) IN GENERAL.--In the case of any credit card account under an open end consumer credit plan under which an over-the-limit-fee may be imposed by the creditor for any extension of credit in excess of the amount of credit authorized to be extended under such account, no such fee shall be charged, unless the consumer has expressly elected to permit the creditor, with respect to such account, to complete transactions involving the extension of credit under such account in excess of the
amount of credit authorized.
``(2) DISCLOSURE BY CREDITOR.--No election by a consumer under paragraph (1) shall take effect unless the consumer, before making such election, received a notice from the creditor of any over-the-limit fee in the form and manner, and at the time, determined by the Board. If the consumer makes the election referred to in paragraph (1), the creditor shall provide notice to the consumer of the right to revoke the election, in the form prescribed by the Board, in any periodic statement that
includes notice of the imposition of an over-the-limit fee during the period covered by the statement.
``(3) FORM OF ELECTION.--A consumer may make or revoke the election referred to in paragraph (1) orally, electronically, or in writing, pursuant to regulations prescribed by the Board. The Board shall prescribe regulations to ensure that the same options are available for both making and revoking such election.
``(4) TIME OF ELECTION.--A consumer may make the election referred to in paragraph (1) at any time, and such election shall be effective until the election is revoked in the manner prescribed under paragraph (3).
``(5) REGULATIONS.--The Board shall prescribe regulations--
``(A) governing disclosures under this subsection; and
``(B) that prevent unfair or deceptive acts or practices in connection with the manipulation of credit limits designed to increase over-the-limit fees or other penalty fees.
``(6) RULE OF CONSTRUCTION.--Nothing in this subsection shall be construed to prohibit a creditor from completing an over-the-limit transaction, provided that a consumer who has not made a valid election under paragraph (1) is not charged an over-the-limit fee for such transaction.
``(l) Limit on Fees Related to Method of Payment.--With respect to a credit card account under an open end consumer credit plan, the creditor may not impose a separate fee to allow the obligor to repay an extension of credit or finance charge, whether such repayment is made by mail, electronic transfer, telephone authorization, or other means, unless such payment involves an expedited service by a service representative of the creditor.''.
(b) Reasonable Penalty Fees.--
(1) IN GENERAL.--Chapter 3 of the Truth in Lending Act (15 U.S.C. 1661 et seq.), as amended by this Act, is amended by adding at the end the following:
``SEC. 149. REASONABLE PENALTY FEES ON OPEN END CONSUMER CREDIT PLANS.
``(a) In General.--The amount of any penalty fee or charge that a card issuer may impose with respect to a credit card account under an open end consumer credit plan in connection with any omission with respect to, or violation of, the cardholder agreement, including any late payment fee, over the limit fee, or any other penalty fee or charge, shall be reasonable and proportional to such omission or violation.
``(b) Rulemaking Required.--The Board, in consultation with the Comptroller of the Currency, the Board of Directors of the Federal Deposit Insurance Corporation, the Director of the Office of Thrift Supervision, and the National Credit Union Administration Board, shall issue final rules not later than 9 months after the date of enactment of this section, to establish standards for assessing whether the amount of any penalty fee or charge described under subsection (a) is reasonable
and proportional to the omission or violation to which the fee or charge relates. Subsection (a) shall become effective 15 months after the date of enactment of this section.
``(c) Considerations.--In issuing rules required by this section, the Board shall consider--
``(1) the cost incurred by the creditor from such omission or violation;
``(2) the deterrence of such omission or violation by the cardholder;
``(3) the conduct of the cardholder; and
``(4) such other factors as the Board may deem necessary or appropriate.
``(d) Differentiation Permitted.--In issuing rules required by this subsection, the Board may establish different standards for different types of fees and charges, as appropriate.
``(e) Safe Harbor Rule Authorized.--The Board, in consultation with the Comptroller of the Currency, the Board of Directors of the Federal Deposit Insurance Corporation, the Director of the Office of Thrift Supervision, and the National Credit Union Administration Board, may issue rules to provide an amount for any penalty fee or charge described under subsection (a) that is presumed to be reasonable and proportional to the omission or violation to which the fee or charge relates.''.
(2) CLERICAL AMENDMENTS.--Chapter 3 of the Truth in Lending Act (15 U.S.C. 1661 et seq.) is amended--
(A) in the chapter heading, by inserting ``
AND LIMITS ON CREDIT CARD FEES'' after ``ADVERTISING''; and
(B) in the table of sections for the chapter, by adding at the end the following:

``148. Interest rate reduction on open end consumer credit plans.
``149. Reasonable penalty fees on open end consumer credit plans.''.
SEC. 103. USE OF TERMS CLARIFIED.
Section 127 of the Truth in Lending Act (15 U.S.C. 1637) is amended by adding at the end the following:
``(m) Use of Term `Fixed Rate'.--With respect to the terms of any credit card account under an open end consumer credit plan, the term `fixed', when appearing in conjunction with a reference to the annual percentage rate or interest rate applicable with respect to such account, may only be used to refer to an annual percentage rate or interest rate that will not change or vary for any reason over the period specified clearly and conspicuously in the terms of the account.''.
SEC. 104. APPLICATION OF CARD PAYMENTS.
Section 164 of the Truth in Lending Act (15 U.S.C. 1666c) is amended--
(1) by striking the section heading and all that follows through ``Payments'' and inserting the following:``§164. Prompt and fair crediting of payments

``(a) In General.--Payments'';

(2) by inserting ``, by 5:00 p.m. on the date on which such payment is due,'' after ``in readily identifiable form'';
(3) by striking ``manner, location, and time'' and inserting ``manner, and location''; and
(4) by adding at the end the following:
``(b) Application of Payments.--
``(1) IN GENERAL.--Upon receipt of a payment from a cardholder, the card issuer shall apply amounts in excess of the minimum payment amount first to the card balance bearing the highest rate of interest, and then to each successive balance bearing the next highest rate of interest, until the payment is exhausted.
``(2) CLARIFICATION RELATING TO CERTAIN DEFERRED INTEREST ARRANGEMENTS.--A creditor shall allocate the entire amount paid by the consumer in excess of the minimum payment amount to a balance on which interest is deferred during the last 2 billing cycles immediately preceding the expiration of the period during which interest is deferred.
``(c) Changes by Card Issuer.--If a card issuer makes a material change in the mailing address, office, or procedures for handling cardholder payments, and such change causes a material delay in the crediting of a cardholder payment made during the 60-day period following the date on which such change took effect, the card issuer may not impose any late fee or finance charge for a late payment on the credit card account to which such payment was credited.''.
SEC. 105. STANDARDS APPLICABLE TO INITIAL ISSUANCE OF SUBPRIME OR ``FEE HARVESTER'' CARDS.
Section 127 of the Truth in Lending Act (15 U.S.C. 1637), as amended by this Act, is amended by adding at the end the following new subsection:
``(n) Standards Applicable to Initial Issuance of Subprime or `Fee Harvester' Cards.--
``(1) IN GENERAL.--If the terms of a credit card account under an open end consumer credit plan require the payment of any fees (other than any late fee, over-the-limit fee, or fee for a payment returned for insufficient funds) by the consumer in the first year during which the account is opened in an aggregate amount in excess of 25 percent of the total amount of credit authorized under the account when the account is opened, no payment of any fees (other than any late fee, over-the-limit
fee, or fee for a payment returned for insufficient funds) may be made from the credit made available under the terms of the account.
``(2) RULE OF CONSTRUCTION.--No provision of this subsection may be construed as authorizing any imposition or payment of advance fees otherwise prohibited by any provision of law.''.
SEC. 106. RULES REGARDING PERIODIC STATEMENTS.
(a) In General.--Section 127 of the Truth in Lending Act (15 U.S.C. 1637) is amended by adding at the end the following:
``(o) Due Dates for Credit Card Accounts.--
``(1) IN GENERAL.--The payment due date for a credit card account under an open end consumer credit plan shall be the same day each month.
``(2) WEEKEND OR HOLIDAY DUE DATES.--If the payment due date for a credit card account under an open end consumer credit plan is a day on which the creditor does not receive or accept payments by mail (including weekends and holidays), the creditor may not treat a payment received on the next business day as late for any purpose.''.
(b) Length of Billing Period.--
(1) IN GENERAL.--Section 163 of the Truth in Lending Act (15 U.S.C. 1666b) is amended to read as follows:
``SEC. 163. TIMING OF PAYMENTS.
``(a) Time to Make Payments.--A creditor may not treat a payment on an open end consumer credit plan as late for any purpose, unless the creditor has adopted reasonable procedures designed to ensure that each periodic statement including the information required by section 127(b) is mailed or delivered to the consumer not later than 21 days before the payment due date.
``(b) Grace Period.--If an open end consumer credit plan provides a time period within which an obligor may repay any portion of the credit extended without incurring an additional finance charge, such additional finance charge may not be imposed with respect to such portion of the credit extended for the billing cycle of which such period is a part, unless a statement which includes the amount upon which the finance charge for the period is based was mailed or delivered to the consumer
not later than 21 days before the date specified in the statement by which payment must be made in order to avoid imposition of that finance charge.''.
(2) EFFECTIVE DATE.--Notwithstanding section 3, section 163 of the Truth in Lending Act, as amended by this subsection, shall become effective 90 days after the date of enactment of this Act.
(c) Clerical Amendments.--The table of sections for chapter 4 of the Truth in Lending Act is amended--
(1) by striking the item relating to section 163 and inserting the following:

``163. Timing of payments.''; and
(2) by striking the item relating to section 171 and inserting the following:

``171. Universal defaults prohibited.
``172. Unilateral changes in credit card agreement prohibited.
``173. Applicability of State laws.''.
SEC. 107. ENHANCED PENALTIES.
Section 130(a)(2)(A) of the Truth in Lending Act (15 U.S.C. 1640(a)(2)(A)) is amended by striking ``or (iii) in the'' and inserting the following: ``(iii) in the case of an individual action relating to an open end consumer credit plan that is not secured by real property or a dwelling, twice the amount of any finance charge in connection with the transaction, with a minimum of $500 and a maximum of $5,000, or such higher amount as may be appropriate in the case of an established pattern or
practice of such failures; or (iv) in the''.
SEC. 108. CLERICAL AMENDMENTS.
Section 103(i) of the Truth in Lending Act (15 U.S.C. 1602(i)) is amended--
(1) by striking ``term'' and all that follows through ``means'' and inserting the following: ``terms `open end credit plan' and `open end consumer credit plan' mean''; and
(2) in the second sentence, by inserting ``or open end consumer credit plan'' after ``credit plan'' each place that term appears.
TITLE II--ENHANCED CONSUMER DISCLOSURES


SEC. 201. PAYOFF TIMING DISCLOSURES.
(a) In General.--Section 127(b)(11) of the Truth in Lending Act (15 U.S.C. 1637(b)(11)) is amended to read as follows:
``(11)(A) A written statement in the following form: `Minimum Payment Warning: Making only the minimum payment will increase the amount of interest you pay and the time it takes to repay your balance.', or such similar statement as is established by the Board pursuant to consumer testing.
``(B) Repayment information that would apply to the outstanding balance of the consumer under the credit plan, including--
``(i) the number of months (rounded to the nearest month) that it would take to pay the entire amount of that balance, if the consumer pays only the required minimum monthly payments and if no further advances are made;
``(ii) the total cost to the consumer, including interest and principal payments, of paying that balance in full, if the consumer pays only the required minimum monthly payments and if no further advances are made;
``(iii) the monthly payment amount that would be required for the consumer to eliminate the outstanding balance in 36 months, if no further advances are made, and the total cost to the consumer, including interest and principal payments, of paying that balance in full if the consumer pays the balance over 36 months; and
``(iv) a toll-free telephone number at which the consumer may receive information about accessing credit counseling and debt management services.
``(C)(i) Subject to clause (ii), in making the disclosures under subparagraph (B), the creditor shall apply the interest rate or rates in effect on the date on which the disclosure is made until the date on which the balance would be paid in full.
``(ii) If the interest rate in effect on the date on which the disclosure is made is a temporary rate that will change under a contractual provision applying an index or formula for subsequent interest rate adjustment, the creditor shall apply the interest rate in effect on the date on which the disclosure is made for as long as that interest rate will apply under that contractual provision, and then apply an interest rate based on the index or formula in effect on the applicable billing date.
``(D) All of the information described in subparagraph (B) shall--
``(i) be disclosed in the form and manner which the Board shall prescribe, by regulation, and in a manner that avoids duplication; and
``(ii) be placed in a conspicuous and prominent location on the billing statement.
``(E) In the regulations prescribed under subparagraph (D), the Board shall require that the disclosure of such information shall be in the form of a table that--
``(i) contains clear and concise headings for each item of such information; and
``(ii) provides a clear and concise form stating each item of information required to be disclosed under each such heading.
``(F) In prescribing the form of the table under subparagraph (E), the Board shall require that--
``(i) all of the information in the table, and not just a reference to the table, be placed on the billing statement, as required by this paragraph; and
``(ii) the items required to be included in the table shall be listed in the order in which such items are set forth in subparagraph (B).
``(G) In prescribing the form of the table under subparagraph (D), the Board shall employ terminology which is different than the terminology which is employed in subparagraph (B), if such terminology is more easily understood and conveys substantially the same meaning.''.
(b) Civil Liability.--Section 130(a) of the Truth in Lending Act (15 U.S.C. 1640(a)) is amended, in the undesignated paragraph following paragraph (4), by striking the second sentence and inserting the following: ``In connection with the disclosures referred to in subsections (a) and (b) of section 127, a creditor shall have a liability determined under paragraph (2) only for failing to comply with the requirements of section 125, 127(a), or any of paragraphs (4) through (13) of section
127(b), or for failing to comply with disclosure requirements under State law for any term or item that the Board has determined to be substantially the same in meaning under section 111(a)(2) as any of the terms or items referred to in section 127(a), or any of paragraphs (4) through (13) of section 127(b).''.
(c) Guidelines Required.--
(1) IN GENERAL.--Not later than 6 months after the date of enactment of this Act, the Secretary of the Treasury (in this section referred to as the ``Secretary'') through the Office of Finance Education, in consultation with the Board, shall, by rule, regulation, or order, issue guidelines for the establishment and maintenance by creditors of a toll-free telephone number for purposes of the disclosures required under section 127(b)(11)(B)(iv) of the Truth in Lending Act, as added by this
section.
(2) APPROVED AGENCIES.--Guidelines issued under this subsection shall ensure that referrals provided by the toll-free number referred to in paragraph (1) include only those agencies certified by the Secretary as meeting the criteria under this section.
(3) CRITERIA.--The Secretary shall only certify a nonprofit budget and credit counseling agency for purposes of this subsection that--
(A) demonstrates that it will provide qualified counselors, maintain adequate provision for safekeeping and payment of client funds, provide adequate counseling with respect to client credit problems, and deal responsibly and effectively with other matters relating to the quality, effectiveness, and financial security of the services it provides; and
(B) at a minimum--
(i) is registered as a nonprofit entity under section 501(c) of the Internal Revenue Code of 1986;
(ii) has a board of directors, the majority of the members of which--
(I) are not employed by such agency; and
(II) will not directly or indirectly benefit financially from the outcome of the counseling services provided by such agency;
(iii) if a fee is charged for counseling services, charges a reasonable and fair fee, and provides services without regard to ability to pay the fee;
(iv) provides for safekeeping and payment of client funds, including an annual audit of the trust accounts and appropriate employee bonding;
(v) provides full disclosures to clients, including funding sources, counselor qualifications, possible impact on credit reports, any costs of such program that will be paid by the client, and how such costs will be paid;
(vi) provides adequate counseling with respect to the credit problems of the client, including an analysis of the current financial condition of the client, factors that caused such financial condition, and how such client can develop a plan to respond to the problems without incurring negative amortization of debt;
(vii) provides trained counselors who--
(I) receive no commissions or bonuses based on the outcome of the counseling services provided;
(II) have adequate experience; and
(III) have been adequately trained to provide counseling services to individuals in financial difficulty, including the matters described in clause (vi);
(viii) demonstrates adequate experience and background in providing credit counseling;
(ix) has adequate financial resources to provide continuing support services for budgeting plans over the life of any repayment plan; and
(x) is accredited by an independent, nationally recognized accrediting organization.
SEC. 202. REQUIREMENTS RELATING TO LATE PAYMENT DEADLINES AND PENALTIES.
Section 127(b)(12) of the Truth in Lending Act (15 U.S.C. 1637(b)(12)) is amended to read as follows:
``(12) REQUIREMENTS RELATING TO LATE PAYMENT DEADLINES AND PENALTIES.--
``(A) LATE PAYMENT DEADLINE REQUIRED TO BE DISCLOSED.--In the case of a credit card account under an open end consumer credit plan under which a late fee or charge may be imposed due to the failure of the obligor to make payment on or before the due date for such payment, the periodic statement required under subsection (b) with respect to the account shall include, in a conspicuous location on the billing statement, the date on which the payment is due or, if different, the date on which
a late payment fee will be charged, together with the amount of the fee or charge to be imposed if payment is made after that date.
``(B) DISCLOSURE OF INCREASE IN INTEREST RATES FOR LATE PAYMENTS.--If 1 or more late payments under an open end consumer credit plan may result in an increase in the annual percentage rate applicable to the account, the statement required under subsection (b) with respect to the account shall include conspicuous notice of such fact, together with the applicable penalty annual percentage rate, in close proximity to the disclosure required under subparagraph (A) of the date on which payment
is due under the terms of the account.
``(C) PAYMENTS AT LOCAL BRANCHES.--If the creditor, in the case of a credit card account referred to in subparagraph (A), is a financial institution which maintains branches or offices at which payments on any such account are accepted from the obligor in person, the date on which the obligor makes a payment on the account at such branch or office shall be considered to be the date on which the payment is made for purposes of determining whether a late fee or charge may be imposed due
to the failure of the obligor to make payment on or before the due date for such payment.''.
SEC. 203. RENEWAL DISCLOSURES.
Section 127(d) of the Truth in Lending Act (15 U.S.C. 1637(d)) is amended--
(1) by striking paragraph (2);
(2) by redesignating paragraph (3) as paragraph (2); and
(3) in paragraph (1), by striking ``Except as provided in paragraph (2), a card issuer'' and inserting the following: ``A card issuer that has changed or amended any term of the account since the last renewal that has not been previously disclosed or''.
SEC. 204. INTERNET POSTING OF CREDIT CARD AGREEMENTS.
(a) In General.--Section 122 of the Truth and Lending Act (15 U.S.C. 1632) is amended by adding at the end the following new subsection:
``(d) Additional Electronic Disclosures.--
``(1) POSTING AGREEMENTS.--Each creditor shall establish and maintain an Internet site on which the creditor shall post the written agreement between the creditor and the consumer for each credit card account under an open-end consumer credit plan.
``(2) CREDITOR TO PROVIDE CONTRACTS TO THE BOARD.--Each creditor shall provide to the Board, in electronic format, the consumer credit card agreements that it publishes on its Internet site.
``(3) RECORD REPOSITORY.--The Board shall establish and maintain on its publicly available Internet site a central repository of the consumer credit card agreements received from creditors pursuant to this subsection, and such agreements shall be easily accessible and retrievable by the public.
``(4) EXCEPTION.--This subsection shall not apply to individually negotiated changes to contractual terms, such as individually modified workouts or renegotiations of amounts owed by a consumer under an open end consumer credit plan.
``(5) REGULATIONS.--The Board, in consultation with the other Federal banking agencies (as that term is defined in section 603) and the Federal Trade Commission, may promulgate regulations to implement this subsection, including specifying the format for posting the agreements on the Internet sites of creditors and establishing exceptions to paragraphs (1) and (2), in any case in which the administrative burden outweighs the benefit of increased transparency, such as where a credit card
plan has a de minimis number of consumer account holders.''.
TITLE III--PROTECTION OF YOUNG CONSUMERS


SEC. 301. EXTENSIONS OF CREDIT TO UNDERAGE CONSUMERS.
Section 127(c) of the Truth in Lending Act (15 U.S.C. 1637(c)) is amended by adding at the end the following:
``(8) APPLICATIONS FROM UNDERAGE CONSUMERS.--
``(A) PROHIBITION ON ISSUANCE.--No credit card may be issued to, or open end consumer credit plan established by or on behalf of, a consumer who has not attained the age of 21, unless the consumer has submitted a written application to the card issuer that meets the requirements of subparagraph (B).
``(B) APPLICATION REQUIREMENTS.--An application to open a credit card account by a consumer who has not attained the age of 21 as of the date of submission of the application shall require--
``(i) the signature of a cosigner, including the parent, legal guardian, spouse, or any other individual who has attained the age of 21 having a means to repay debts incurred by the consumer in connection with the account, indicating joint liability for debts incurred by the consumer in connection with the account before the consumer has attained the age of 21; or
``(ii) submission by the consumer of financial information, including through an application, indicating an independent means of repaying any obligation arising from the proposed extension of credit in connection with the account.
``(C) SAFE HARBOR.--The Board shall promulgate regulations providing standards that, if met, would satisfy the requirements of subparagraph (B)(ii).''.
SEC. 302. PROTECTION OF YOUNG CONSUMERS FROM PRESCREENED CREDIT OFFERS.
Section 604(c)(1)(B) of the Fair Credit Reporting Act (15 U.S.C. 1681b(c)(1)(B)) is amended--
(1) in clause (ii), by striking ``and'' at the end; and
(2) in clause (iii), by striking the period at the end and inserting the following: ``; and
``(iv) the consumer report does not contain a date of birth that shows that the consumer has not attained the age of 21, or, if the date of birth on the consumer report shows that the consumer has not attained the age of 21, such consumer consents to the consumer reporting agency to such furnishing.''.
SEC. 303. ISSUANCE OF CREDIT CARDS TO CERTAIN COLLEGE STUDENTS.
Section 127 of the Truth in Lending Act (15 U.S.C. 1637) is amended by adding at the end the following new subsection:
``(p) Parental Approval Required to Increase Credit Lines for Accounts for Which Parent Is Jointly Liable.--No increase may be made in the amount of credit authorized to be extended under a credit card account for which a parent, legal guardian, or spouse of the consumer, or any other individual has assumed joint liability for debts incurred by the consumer in connection with the account before the consumer attains the age of 21, unless that parent, guardian, or spouse approves in writing,
and assumes joint liability for, such increase.''.
TITLE IV--GIFT CARDS


SEC. 401. GENERAL-USE PREPAID CARDS, GIFT CERTIFICATES, AND STORE GIFT CARDS.
The Electronic Fund Transfer Act (15 U.S.C. 1693 et seq.) is amended--
(1) by redesignating sections 915 through 921 as sections 916 through 922, respectively; and
(2) by inserting after section 914 the following:
``SEC. 915. GENERAL-USE PREPAID CARDS, GIFT CERTIFICATES, AND STORE GIFT CARDS.
``(a) Definitions.--In this section, the following definitions shall apply:
``(1) DORMANCY FEE; INACTIVITY CHARGE OR FEE.--The terms `dormancy fee' and `inactivity charge or fee' mean a fee, charge, or penalty for non-use or inactivity of a gift certificate, store gift card, or general-use prepaid card.
``(2) GENERAL USE PREPAID CARD, GIFT CERTIFICATE, AND STORE GIFT CARD.--
``(A) GENERAL-USE PREPAID CARD.--The term `general-use prepaid card' means a card or other payment code or device issued by any person that is--
``(i) redeemable at multiple, unaffiliated merchants or service providers, or automated teller machines;
``(ii) issued in a requested amount, whether or not that amount may, at the option of the issuer, be increased in value or reloaded if requested by the holder;
``(iii) purchased or loaded on a prepaid basis; and
``(iv) honored, upon presentation, by merchants for goods or services, or at automated teller machines.
``(B) GIFT CERTIFICATE.--The term `gift certificate' means an electronic promise that is--
``(i) redeemable at a single merchant or an affiliated group of merchants that share the same name, mark, or logo;
``(ii) issued in a specified amount that may not be increased or reloaded;
``(iii) purchased on a prepaid basis in exchange for payment; and
``(iv) honored upon presentation by such single merchant or affiliated group of merchants for goods or services.
``(C) STORE GIFT CARD.--The term `store gift card' means an electronic promise, plastic card, or other payment code or device that is--
``(i) redeemable at a single merchant or an affiliated group of merchants that share the same name, mark, or logo;
``(ii) issued in a specified amount, whether or not that amount may be increased in value or reloaded at the request of the holder;
``(iii) purchased on a prepaid basis in exchange for payment; and
``(iv) honored upon presentation by such single merchant or affiliated group of merchants for goods or services.
``(D) EXCLUSIONS.--The terms `general-use prepaid card', `gift certificate', and `store gift card' do not include an electronic promise, plastic card, or payment code or device that is--
``(i) used solely for telephone services;
``(ii) reloadable and not marketed or labeled as a gift card or gift certificate;
``(iii) a loyalty, award, or promotional gift card, as defined by the Board;
``(iv) not marketed to the general public; or
``(v) issued in paper form only (including for tickets and events).
``(3) SERVICE FEE.--
``(A) IN GENERAL.--The term `service fee' means a periodic fee, charge, or penalty for holding or use of a gift certificate, store gift card, or general-use prepaid card.
``(B) EXCLUSION.--With respect to a general-use prepaid card, the term `service fee' does not include a one-time initial issuance fee.
``(b) Prohibition on Imposition of Fees or Charges.--
``(1) IN GENERAL.--Except as provided under paragraphs (2) through (4), it shall be unlawful for any person to impose a dormancy fee, an inactivity charge or fee, or a service fee with respect to a gift certificate, store gift card, or general-use prepaid card.
``(2) EXCEPTIONS.--A dormancy fee, inactivity charge or fee, or service fee may be charged with respect to a gift certificate, store gift card, or general-use prepaid card, if--
``(A) there has been no activity with respect to the certificate or card in the 12-month period ending on the date on which the charge or fee is imposed;
``(B) the disclosure requirements of paragraph (3) have been met;
``(C) not more than one fee may be charged in any given month; and
``(D) any additional requirements that the Board may establish through rulemaking under subsection (d) have been met.
``(3) DISCLOSURE REQUIREMENTS.--The disclosure requirements of this paragraph are met if--
``(A) the gift certificate, store gift card, or general-use prepaid card clearly and conspicuously states--
``(i) that a dormancy fee, inactivity charge or fee, or service fee may be charged;
``(ii) the amount of such fee or charge;
``(iii) how often such fee or charge may be assessed; and
``(iv) that such fee or charge may be assessed for inactivity; and
``(B) the issuer of such certificate or card informs the purchaser of such charge or fee before such certificate or card is purchased, regardless of whether the certificate or card is purchased in person, over the Internet, or by telephone.
``(4) EXCLUSION.--The prohibition under paragraph (1) shall not apply to any gift certificate--
``(A) that is distributed pursuant to an award, loyalty, or promotional program, as defined by the Board; and
``(B) with respect to which, there is no money or other value exchanged.
``(c) Prohibition on Sale of Gift Cards With Expiration Dates.--
``(1) IN GENERAL.--Except as provided under paragraph (2), it shall be unlawful for any person to sell or issue a gift certificate, store gift card, or general-use prepaid card that is subject to an expiration date.
``(2) EXCEPTIONS.--A gift certificate, store gift card, or general-use prepaid card may contain an expiration date if--
``(A) the expiration date is not earlier than 5 years after the date on which the gift certificate was issued, or the date on which card funds were last loaded to a store gift card or general-use prepaid card; and
``(B) the terms of expiration are prominently disclosed in all capital letters that are presented in at least 10-point type.
``(d) Additional Rulemaking.--
``(1) IN GENERAL.--The Board shall prescribe regulations to carry out this section, in addition to any other rules or regulations required by this title, including such additional requirements as appropriate relating to the amount of dormancy fees, inactivity charges or fees, or service fees that may be assessed and the amount of remaining value of gift certificate, store gift card, or general-use prepaid card below which such charges or fees may be assessed.
``(2) CONSULTATION.--In prescribing regulations under this subsection, the Board shall consult with the Federal Trade Commission.
``(3) TIMING; EFFECTIVE DATE.--The regulations required by this subsection shall be issued in final form not later than 9 months after the date of enactment of the Credit CARD Act of 2009.''.
SEC. 402. RELATION TO STATE LAWS.
Section 920 of the Electronic Fund Transfer Act (as redesignated by this title) is amended by inserting ``dormancy fees, inactivity charges or fees, service fees, or expiration dates of gift certificates, store gift cards, or general-use prepaid cards,'' after ``electronic fund transfers,''.
SEC. 403. EFFECTIVE DATE.
This title and the amendments made by this title shall become effective 15 months after the date of enactment of this Act.
TITLE V--MISCELLANEOUS PROVISIONS


SEC. 501. STUDY AND REPORT ON INTERCHANGE FEES.
(a) Study Required.--The Comptroller General of the United States (in this section referred to as the ``Comptroller'') shall conduct a study on use of credit by consumers, interchange fees, and their effects on consumers and merchants.
(b) Subjects for Review.--In conducting the study required by this section, the Comptroller shall review--
(1) the extent to which interchange fees are required to be disclosed to consumers and merchants, whether merchants are restricted from disclosing interchange or merchant discount fees, and how such fees are overseen by the Federal banking agencies or other regulators;
(2) the ways in which the interchange system affects the ability of merchants of varying size to negotiate pricing with card associations and banks;
(3) the costs and factors incorporated into interchange fees, such as advertising, bonus miles, and rewards, how such costs and factors vary among cards;
(4) the consequences of the undisclosed nature of interchange fees on merchants and consumers with regard to prices charged for goods and services;
(5) how merchant discount fees compare to the credit losses and other costs that merchants incur to operate their own credit networks or store cards;
(6) the extent to which the rules of payment card networks and their policies regarding interchange fees are accessible to merchants;
(7) other jurisdictions where the central bank has regulated interchange fees and the impact on retail prices to consumers in such jurisdictions;
(8) whether and to what extent merchants are permitted to discount for cash; and
(9) the extent to which interchange fees allow smaller financial institutions and credit unions to offer payment cards and compete against larger financial institutions.
(c) Report Required.--Not later than 180 days after the date of enactment of this Act, the Comptroller shall submit a report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives containing a detailed summary of the findings and conclusions of the study required by this section, together with such recommendations for legislative or administrative actions as may be appropriate.
SEC. 502. BOARD REVIEW OF CONSUMER CREDIT PLANS AND REGULATIONS.
(a) Required Review.--Not later than 2 years after the effective date of this Act and every 2 years thereafter, except as provided in subsection (c)(2), the Board shall conduct a review of the consumer credit card market, including--
(1) the terms of credit card agreements and the practices of credit card issuers;
(2) the effectiveness of disclosures of terms, fees, and other expenses of credit card plans;
(3) the adequacy of protections against unfair or deceptive acts or practices relating to credit card plans;
(4) the cost and availability of credit, particularly with respect to non-prime borrowers;
(5) the safety and soundness of credit card issuers;
(6) the use of risk-based pricing; and
(7) credit card product innovation.
(b) Solicitation of Public Comment.--In conducting the review required by subsection (a), the Board shall solicit comment from consumers, credit card issuers, and other interested parties, such as through hearings or written comments.
(c) Regulations.--Following the review required by subsection (a), the Board shall publish notice in the Federal Register that--
(1) summarizes the review, the comments received from the public solicitation, and other evidence gathered by the Board, such as through consumer testing or other research, and
(2) proposes new or revised regulations or interpretations to update or revise disclosures and protections for consumer credit cards, as appropriate; or
(3) states the reasons for any determination of the Board that new or revised regulations are not proposed under paragraph (2).


(As printed in the Congressional Record for the Senate on May 11, 2009.)
S. Amdt. 1059Whitehouse, Sheldon [D-RI]May 11, 2009Offered on May 11, 2009.

Amendment information not available.

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S. Amdt. 1060Whitehouse, Sheldon [D-RI]May 11, 2009Offered on May 11, 2009.

Amendment information not available.

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S. Amdt. 1061Coburn, Thomas [R-OK]May 12, 2009Offered on May 12, 2009.

Amendment information not available.

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select this voteS. Amdt. 1062Sanders, Bernard [I-VT]May 12, 2009Offered on May 12, 2009.

To establish a national consumer credit usury rate.

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S. Amdt. 1063Wyden, Ron [D-OR]May 12, 2009Offered on May 12, 2009.

Amendment information not available.

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S. Amdt. 1064Udall, Mark [D-CO]May 12, 2009Offered on May 12, 2009.

Amendment information not available.

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S. Amdt. 1065Casey, Robert [D-PA]May 12, 2009Offered on May 12, 2009.

Amendment information not available.

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select this voteS. Amdt. 1066Vitter, David [R-LA]May 12, 2009Failed by roll call vote on May 13, 2009.

To specify acceptable forms of identification for the opening of credit card accounts.

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select this voteS. Amdt. 1067Coburn, Thomas [R-OK]May 12, 2009Offered on May 12, 2009.

To protect innocent Americans from violent crime in national parks and refuges.

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S. Amdt. 1068Coburn, Thomas [R-OK]May 12, 2009Withdrawn on May 12, 2009.

To protect innocent Americans from violent crime in national parks and refuges.

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S. Amdt. 1069Kerry, John [D-MA]May 12, 2009Offered on May 12, 2009.

Amendment information not available.

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S. Amdt. 1070Feinstein, Dianne [D-CA]May 12, 2009Offered on May 12, 2009.

Amendment information not available.

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S. Amdt. 1071Feinstein, Dianne [D-CA]May 12, 2009Offered on May 12, 2009.

Amendment information not available.

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S. Amdt. 1072Johanns, Mike [R-NE]May 12, 2009Offered on May 12, 2009.

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S. Amdt. 1073Menéndez, Robert [D-NJ]May 12, 2009Offered on May 12, 2009.

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S. Amdt. 1074Menéndez, Robert [D-NJ]May 12, 2009Offered on May 12, 2009.

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S. Amdt. 1075Menéndez, Robert [D-NJ]May 12, 2009Offered on May 12, 2009.

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S. Amdt. 1076Menéndez, Robert [D-NJ]May 12, 2009Offered on May 12, 2009.

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S. Amdt. 1077Menéndez, Robert [D-NJ]May 12, 2009Offered on May 12, 2009.

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S. Amdt. 1078Menéndez, Robert [D-NJ]May 12, 2009Offered on May 12, 2009.

Amendment information not available.

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S. Amdt. 1079Landrieu, Mary [D-LA]May 12, 2009Offered on May 12, 2009.

To end abuse, promote disclosure, and provide protections to small businesses that rely on credit cards.

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S. Amdt. 1080Feinstein, Dianne [D-CA]May 12, 2009Offered on May 12, 2009.

Amendment information not available.

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S. Amdt. 1081Kohl, Herbert [D-WI]May 12, 2009Offered on May 12, 2009.

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S. Amdt. 1082Kohl, Herbert [D-WI]May 12, 2009Offered on May 12, 2009.

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S. Amdt. 1083Snowe, Olympia [R-ME]May 12, 2009Offered on May 12, 2009.

Amendment information not available.

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select this voteS. Amdt. 1084Gillibrand, Kirsten [D-NY]May 12, 2009Passed by voice vote on May 13, 2009.

To amend the Fair Credit Reporting Act to require reporting agencies to provide free credit reports in the native language of certain non-English speaking consumers.

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select this voteS. Amdt. 1085Gregg, Judd [R-NH]May 12, 2009Offered on May 12, 2009.

To enhance public knowledge regarding the national debt by requiring the publication of the facts about the national debt on IRS instructions, Federal websites, and in new legislation.

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S. Amdt. 1086Bunning, Jim [R-KY]May 12, 2009Offered on May 12, 2009.

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S. Amdt. 1087Menéndez, Robert [D-NJ]May 12, 2009Offered on May 12, 2009.

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S. Amdt. 1088Menéndez, Robert [D-NJ]May 12, 2009Offered on May 12, 2009.

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S. Amdt. 1089Durbin, Richard [D-IL]May 12, 2009Offered on May 12, 2009.

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S. Amdt. 1090Durbin, Richard [D-IL]May 12, 2009Offered on May 12, 2009.

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S. Amdt. 1091Cardin, Benjamin [D-MD]May 12, 2009Offered on May 12, 2009.

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S. Amdt. 1092Levin, Carl [D-MI]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1093Levin, Carl [D-MI]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1094Levin, Carl [D-MI]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1095Levin, Carl [D-MI]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1096Levin, Carl [D-MI]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1097Levin, Carl [D-MI]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1098Udall, Tom [D-NM]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1099Feinstein, Dianne [D-CA]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1100Durbin, Richard [D-IL]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1101Burr, Richard [R-NC]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1102Menéndez, Robert [D-NJ]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1103Udall, Mark [D-CO]May 13, 2009Offered on May 13, 2009.

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select this voteS. Amdt. 1104Isakson, John [R-GA]May 13, 2009Passed by voice vote on May 13, 2009.

To require the Comptroller General to conduct a study on the relationship between fluency in the English language and financial literacy.

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S. Amdt. 1105Sanders, Bernard [I-VT]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1106Murray, Patty [D-WA]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1107Collins, Susan [R-ME]May 13, 2009Offered on May 13, 2009.

To address stored value devices and cards.

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S. Amdt. 1108Boxer, Barbara [D-CA]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1109Ensign, John [R-NV]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1110Akaka, Daniel [D-HI]May 13, 2009Offered on May 13, 2009.

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S. Amdt. 1111Vitter, David [R-LA]May 14, 2009Offered on May 14, 2009.

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S. Amdt. 1112Vitter, David [R-LA]May 14, 2009Offered on May 14, 2009.

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S. Amdt. 1113Thune, John [R-SD]May 14, 2009Offered on May 14, 2009.

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S. Amdt. 1114Martinez, Mel [R-FL]May 14, 2009Offered on May 14, 2009.

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S. Amdt. 1115Menéndez, Robert [D-NJ]May 14, 2009Offered on May 14, 2009.

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S. Amdt. 1116Menéndez, Robert [D-NJ]May 14, 2009Offered on May 14, 2009.

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S. Amdt. 1117Levin, Carl [D-MI]May 14, 2009Offered on May 14, 2009.

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S. Amdt. 1118Levin, Carl [D-MI]May 14, 2009Offered on May 14, 2009.

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S. Amdt. 1119Levin, Carl [D-MI]May 14, 2009Offered on May 14, 2009.

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S. Amdt. 1120Boxer, Barbara [D-CA]May 14, 2009Offered on May 14, 2009.

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S. Amdt. 1121Durbin, Richard [D-IL]May 14, 2009Offered on May 14, 2009.

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S. Amdt. 1122Crapo, Michael [R-ID]May 14, 2009Offered on May 14, 2009.

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S. Amdt. 1123Burr, Richard [R-NC]May 14, 2009Offered on May 14, 2009.

Amendment information not available.

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S. Amdt. 1124Lincoln, Blanche [D-AR]May 14, 2009Offered on May 14, 2009.

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S. Amdt. 1125Dorgan, Byron [D-ND]May 14, 2009Offered on May 14, 2009.

Amendment information not available.

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S. Amdt. 1126Lincoln, Blanche [D-AR]May 14, 2009Offered on May 14, 2009.

To amend the Federal Deposit Insurance Act with respect to the extension of certain limitations.

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S. Amdt. 1127Snowe, Olympia [R-ME]May 14, 2009Offered on May 14, 2009.

Amendment information not available.

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S. Amdt. 1129Murray, Patty [D-WA]May 14, 2009Offered on May 14, 2009.

Amendment information not available.

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select this voteS. Amdt. 1130Dodd, Christopher [D-CT]May 19, 2009Passed by voice vote on May 19, 2009.

Of a perfecting nature.

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Credit Card Accountability Responsibility and Disclosure Act of 2009: Motion to Invoke Cloture on the Dodd Amdt. No. 1058

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Daniel K. AkakaDHI$0$0Yes
Andrew Lamar AlexanderRTN$0$0Yes
John BarrassoRWY$0$0Yes
Max BaucusDMT$0$0Yes
Birch "Evan" BayhDIN$0$0Yes
Mark BegichDAK$0$0Yes
Michael F. BennetDCO$0$0Yes
Bob BennettRUT$0$0Yes
Jesse "Jeff" BingamanDNM$0$0Yes
Christopher "Kit" BondRMO$0$0Yes
Barbara BoxerDCA$0$0Yes
Sherrod BrownDOH$0$0Not Voting
Sam BrownbackRKS$0$0Yes
Jim BunningRKY$0$0Yes
Richard BurrRNC$0$0Yes
Roland BurrisDIL$0$0Yes
Robert ByrdDWV$0$0Not Voting
Maria CantwellDWA$0$0Yes
Ben CardinDMD$0$0Yes
Tom CarperDDE$0$0Yes
Bob CaseyDPA$0$0Yes
Clarence Saxby ChamblissRGA$0$0Yes
Tom CoburnROK$0$0Yes
William Thad CochranRMS$0$0Yes
Susan M. CollinsRME$0$0Yes
Gaylord Kent ConradDND$0$0Yes
Bob CorkerRTN$0$0Yes
John CornynRTX$0$0Yes
Mike CrapoRID$0$0Yes
Jim DeMintRSC$0$0Yes
Chris DoddDCT$0$0Yes
Byron DorganDND$0$0Yes
Dick DurbinDIL$0$0Yes
John EnsignRNV$0$0Not Voting
Mike EnziRWY$0$0Yes
Russ FeingoldDWI$0$0Yes
Dianne FeinsteinDCA$0$0Yes
Kirsten E. GillibrandDNY$0$0Yes
Lindsey GrahamRSC$0$0Yes
Chuck GrassleyRIA$0$0Yes
Judd GreggRNH$0$0Yes
Kay R. HaganDNC$0$0Yes
Tom HarkinDIA$0$0Yes
Orrin G. HatchRUT$0$0Yes
Kay Bailey HutchisonRTX$0$0Yes
Jim InhofeROK$0$0Yes
Dan InouyeDHI$0$0Yes
Johnny IsaksonRGA$0$0Yes
Mike JohannsRNE$0$0Yes
Tim JohnsonDSD$0$0Yes
Ted KaufmanDDE$0$0Yes
Ted KennedyDMA$0$0Not Voting
John F. KerryDMA$0$0Yes
Amy KlobucharDMN$0$0Yes
Herb KohlDWI$0$0Yes
Jon KylRAZ$0$0No
Mary L. LandrieuDLA$0$0Yes
Frank R. LautenbergDNJ$0$0Yes
Patrick J. LeahyDVT$0$0Yes
Carl LevinDMI$0$0Yes
Joe LiebermanICT$0$0Yes
Blanche LincolnDAR$0$0Yes
Dick LugarRIN$0$0Yes
Mel MartinezRFL$0$0Yes
John McCainRAZ$0$0Yes
Claire McCaskillDMO$0$0Yes
Addison "Mitch" McConnellRKY$0$0Yes
Bob MenéndezDNJ$0$0Yes
Jeff MerkleyDOR$0$0Yes
Barbara A. MikulskiDMD$0$0Yes
Lisa MurkowskiRAK$0$0Yes
Patty MurrayDWA$0$0Yes
Earl "Ben" NelsonDNE$0$0Yes
Clarence "Bill" NelsonDFL$0$0Yes
Mark L. PryorDAR$0$0Yes
John "Jack" ReedDRI$0$0Yes
Harry ReidDNV$0$0Yes
Jim RischRID$0$0Yes
Charles "Pat" RobertsRKS$0$0Yes
John "Jay" RockefellerDWV$0$0Not Voting
Bernie SandersIVT$0$0Yes
Chuck SchumerDNY$0$0Yes
Jeff SessionsRAL$0$0Yes
Jeanne ShaheenDNH$0$0Yes
Richard C. ShelbyRAL$0$0Yes
Olympia J. SnoweRME$0$0Yes
Arlen SpecterDPA$0$0Yes
Debbie StabenowDMI$0$0Yes
Jon TesterDMT$0$0Yes
John ThuneRSD$0$0No
Mark UdallDCO$0$0Yes
Tom UdallDNM$0$0Yes
David VitterRLA$0$0Yes
George VoinovichROH$0$0Yes
Mark R. WarnerDVA$0$0Yes
Jim WebbDVA$0$0Yes
Sheldon WhitehouseDRI$0$0Yes
Roger F. WickerRMS$0$0Yes
Ron WydenDOR$0$0Yes

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