S. 1799 - FAIR Overdraft Coverage Act

Finance and financial sector. 111th Congress (2009-2010) View bill details
Sponsor:
Summary:
A bill to amend the Truth in Lending Act, to establish fair and transparent practices related to the marketing and provision of overdraft coverage programs at depository institutions, and for other purposes. (by CRS) 
Status:
The bill has been introduced. 
There have been no votes on this bill.

FAIR Overdraft Coverage Act

S. 1799 — 111th Congress (2009–2010)

Summary
A bill to amend the Truth in Lending Act, to establish fair and transparent practices related to the marketing and provision of overdraft coverage programs at depository institutions, and for other purposes. (by CRS)
Learn More
At OpenCongress
Title
A bill to amend the Truth in Lending Act, to establish fair and transparent practices related to the marketing and provision of overdraft coverage programs at depository institutions, and for other purposes.
Other Titles
  • FAIR Overdraft Coverage Act
  • Fairness and Accountability in Receiving Overdraft CoverageAct of 2009
Sponsor
Christopher Dodd
Co-Sponsors
Subjects
  • Finance and financial sector
  • Administrative law and regulatory procedures
  • Bank accounts, deposits, capital
  • Banking and financial institutions regulation
  • Congressional oversight
  • Consumer affairs
  • Consumer credit
  • Federal Reserve System
  • Marketing and advertising
Related Bills
Major Actions
Introduced10/19/2009
Referred to Committee
Bill History

There have been no votes on this bill.

ActionDateDescription
Introduced10/19/2009
10/19/2009Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
10/19/2009Sponsor introductory remarks on measure. (CR S10521-10522)
11/17/2009Committee on Banking, Housing, and Urban Affairs. Hearings held.
NumberSponsorDate OfferedStatus
scale for bar graph of contributions

Contributions

  1. January - February 2005 For $57,050 Against $135,611
  2. March - April 2005 For $120,000 Against $352,319
  3. May - June 2005 For $127,450 Against $309,312
  4. July - August 2005 For $60,550 Against $215,837
  5. September - October 2005 For $120,950 Against $395,800
  6. November - December 2005 For $115,300 Against $319,654
  7. January - February 2006 For $41,950 Against $136,590
  8. March - April 2006 For $153,695 Against $416,379
  9. May - June 2006 For $166,246 Against $377,685
  10. July - August 2006 For $99,000 Against $295,167
  11. September - October 2006 For $411,616 Against $565,080
  12. November - December 2006 For $51,176 Against $376,385
  13. January - February 2007 For $29,500 Against $306,849
  14. March - April 2007 For $140,501 Against $564,255
  15. May - June 2007 For $182,387 Against $484,015
  16. July - August 2007 For $90,209 Against $268,358
  17. September - October 2007 For $135,280 Against $385,619
  18. November - December 2007 For $180,950 Against $385,981
  19. January - February 2008 For $76,700 Against $289,012
  20. March - April 2008 For $150,827 Against $404,513
  21. May - June 2008 For $237,821 Against $505,375
  22. July - August 2008 For $114,487 Against $262,634
  23. September - October 2008 For $307,759 Against $441,900
  24. November - December 2008 For $61,950 Against $177,270
  25. January - February 2009 For $63,950 Against $162,780
  26. March - April 2009 For $153,350 Against $290,275
  27. May - June 2009 For $156,900 Against $295,325
  28. July - August 2009 For $67,767 Against $230,780
  29. September - October 2009 For $111,152 Against $282,213
  30. November - December 2009 For $116,670 Against $231,600
  31. January - February 2010 For $57,852 Against $260,225
  32. March - April 2010 For $134,950 Against $356,900
  33. May - June 2010 For $92,764 Against $268,200
  34. July - August 2010 For $46,720 Against $179,486
  35. September - October 2010 For $134,590 Against $299,040
  36. November - December 2010 For $22,150 Against $187,000

Votes

    20 Organizations Supported and 6 Opposed; See Which Ones

    Organizations that took a position on
    FAIR Overdraft Coverage Act

    20 organizations supported this bill

    AFL-CIO
    AFL-CIO (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    Americans for Fairness in Lending
    Americans for Fairness in Lending (AFFIL) (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    Black Leadership Forum
    Black Leadership Forum (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    Center for Responsible Lending
    Center for Responsible Lending (2010, February 4). Consumers Overwhelmingly Support Bank Overdraft Reforms. Retrieved November 24, 2010, from Consumer Federation of America.
    Communications Workers of America
    CWA-UAW Legislative Alliance (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    Consumer Action
    Consumer Action (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    Consumer Federation of America
    Consumer Federation of America (2010, February 4). Consumers Overwhelmingly Support Bank Overdraft Reforms. Retrieved November 24, 2010, from Consumer Federation of America.
    Consumers Union
    Consumers Union (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    Leadership Conference on Civil Rights
    Leadership Conference on Civil Rights (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    National Association for the Advancement of Colored People
    NAACP (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    National Association of Consumer Advocates
    National Association of Consumer Advocates (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    National Black Caucus of Local Elected Officials
    National Black Caucus for Local Elected Officials (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    National Consumer Law Center
    National Consumer Law Center (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    National Consumers League
    National Consumers League (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    National Council of La Raza
    National Council of La Raza (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    National People's Action
    National People’s Action (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    Public Citizen
    Public Citizen (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    Sargent Shriver National Center on Poverty Law
    Sargent Shriver Center on Poverty Law (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    Service Employees International Union
    Service Employees International Union (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.
    U.S. PIRG
    U.S. PIRG (2009, October 28). Dear Chairman Dodd:. Retrieved November 24, 2010, from National Assocation of Consumer Advocates.

    6 organizations opposed this bill

    American Bankers Association
    American Bankers Association (2009). Overdraft Protection: Why S. 1799 and H.R. 3904 Should Be Opposed. Retrieved November 24, 2010, from Arkansas Bankers Association.
    Community Bankers Association of Ohio
    Community Bankers Association of Ohio (2010, September 28). 111th Congress – U.S. Senate. Retrieved November 24, 2010, from Community Bankers Association of Ohio.
    Credit Union National Association
    CUNA (2010, February 8). Are the Current Finalized Fed Overdraft Rules Enough To Satisfy. Retrieved November 24, 2010, from Credit Union National Association.
    Georgia Bankers Association
    Georgia Bankers Association (n.d.). The State of the Overdraft. Retrieved November 24, 2010, from Georgia Bankers Association.
    Hopewell Federal Credit Union
    Hopewell Federal Credit Union (2009, October 20). Proposed New Legislation Will Limit Your Overdraft Protection. Retrieved November 24, 2010, from Hopewell Federal Credit Union's Blog.
    National Association of Federal Credit Unions
    National Association of Federal Credit Unions (2010, July 0). Overdraft. Retrieved November 24, 2010, from National Association of Federal Credit Unions.

    Need proof?

    View citations of support and opposition

    Includes reported contributions to congressional campaigns of Senators in office during the 111th U.S. Congress, from interest groups invested in the vote according to MapLight, January 1, 2005 – December 31, 2010.
    Contributions data source: OpenSecrets.org

    Contributions by Legislator

    Namesort iconPartyState$ From Interest Groups
    That Supported
    $ From Interest Groups
    That Opposed
    Daniel K. AkakaDHI$46,440$49,550
    Andrew Lamar AlexanderRTN$19,500$127,872
    John BarrassoRWY$4,600$52,150
    Max BaucusDMT$35,800$247,353
    Birch "Evan" BayhDIN$17,050$131,871
    Mark BegichDAK$53,675$25,700
    Michael F. BennetDCO$111,239$107,350
    Bob BennettRUT$5,000$178,500
    Jesse "Jeff" BingamanDNM$25,250$42,466
    Christopher "Kit" BondRMO$5,400$22,250
    Barbara BoxerDCA$106,273$63,650
    Sherrod BrownDOH$101,672$112,037
    Sam BrownbackRKS$2,600$5,000
    Jim BunningRKY$0$35,875
    Richard BurrRNC$5,250$236,034
    Roland BurrisDIL$0$0
    Robert ByrdDWV$44,700$65,850
    Maria CantwellDWA$74,850$41,185
    Ben CardinDMD$78,900$71,900
    Tom CarperDDE$6,800$193,329
    Bob CaseyDPA$135,050$146,580
    Clarence Saxby ChamblissRGA$7,400$254,373
    Tom CoburnROK$2,650$74,000
    William Thad CochranRMS$1,500$46,150
    Susan M. CollinsRME$2,200$138,054
    Gaylord Kent ConradDND$19,350$122,672
    Bob CorkerRTN$23,526$326,825
    John CornynRTX$45,375$390,908
    Mike CrapoRID$2,350$146,682
    Jim DeMintRSC$500$110,805
    Chris DoddDCT$80,100$286,850
    Byron DorganDND$18,100$35,000
    Dick DurbinDIL$55,850$161,750
    John EnsignRNV$7,600$70,350
    Mike EnziRWY$5,000$84,000
    Russ FeingoldDWI$69,400$48,670
    Dianne FeinsteinDCA$54,289$71,700
    Al FrankenDMN$137,932$44,650
    Kirsten E. GillibrandDNY$242,494$308,846
    Lindsey GrahamRSC$18,250$122,063
    Chuck GrassleyRIA$12,050$92,091
    Judd GreggRNH$0$8,000
    Kay R. HaganDNC$99,293$71,133
    Tom HarkinDIA$124,330$90,221
    Orrin G. HatchRUT$10,000$138,470
    Kay Bailey HutchisonRTX$15,200$199,500
    Jim InhofeROK$13,100$93,625
    Dan InouyeDHI$17,400$83,975
    Johnny IsaksonRGA$11,100$166,750
    Mike JohannsRNE$0$120,200
    Tim JohnsonDSD$36,698$263,847
    Ted KaufmanDDE$0$0
    John F. KerryDMA$43,050$52,250
    Paul KirkDMA$0$0
    Amy KlobucharDMN$107,263$129,249
    Herb KohlDWI$0$0
    Jon KylRAZ$21,900$242,700
    Mary L. LandrieuDLA$54,700$138,899
    Frank R. LautenbergDNJ$49,787$58,150
    George LeMieuxRFL$0$0
    Patrick J. LeahyDVT$28,600$29,285
    Carl LevinDMI$70,721$60,200
    Joe LiebermanICT$91,500$223,550
    Blanche LincolnDAR$50,133$196,868
    Dick LugarRIN$21,250$68,925
    John McCainRAZ$22,300$65,425
    Claire McCaskillDMO$77,020$74,350
    Addison "Mitch" McConnellRKY$52,650$425,975
    Bob MenéndezDNJ$121,770$170,750
    Jeff MerkleyDOR$88,087$56,360
    Barbara A. MikulskiDMD$39,133$29,000
    Lisa MurkowskiRAK$8,000$50,570
    Patty MurrayDWA$85,333$64,805
    Earl "Ben" NelsonDNE$21,900$178,779
    Clarence "Bill" NelsonDFL$24,600$100,050
    Mark L. PryorDAR$30,888$120,192
    John "Jack" ReedDRI$24,500$195,271
    Harry ReidDNV$114,300$234,150
    Jim RischRID$3,300$45,500
    Charles "Pat" RobertsRKS$6,850$220,140
    John "Jay" RockefellerDWV$44,850$70,000
    Bernie SandersIVT$51,300$28,700
    Chuck SchumerDNY$93,428$165,650
    Jeff SessionsRAL$0$123,682
    Jeanne ShaheenDNH$93,359$51,908
    Richard C. ShelbyRAL$0$232,300
    Olympia J. SnoweRME$20,700$76,720
    Arlen SpecterDPA$105,870$119,700
    Debbie StabenowDMI$78,705$158,836
    Jon TesterDMT$50,500$94,670
    John ThuneRSD$11,800$190,180
    Mark UdallDCO$168,609$89,766
    Tom UdallDNM$112,017$31,783
    David VitterRLA$6,150$109,700
    George VoinovichROH$8,100$67,850
    Mark R. WarnerDVA$114,350$148,650
    Jim WebbDVA$65,460$30,900
    Sheldon WhitehouseDRI$71,250$46,350
    Roger F. WickerRMS$7,300$163,024
    Ron WydenDOR$15,800$55,000

    Add Data Filters:

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    Legislator Filters
    Show All
    NamePartyState$ From Interest Groups
    That Supported
    $ From Interest Groups
    That Opposed
    Daniel K. AkakaDHI$46,440$49,550
    Andrew Lamar AlexanderRTN$19,500$127,872
    John BarrassoRWY$4,600$52,150
    Max BaucusDMT$35,800$247,353
    Birch "Evan" BayhDIN$17,050$131,871
    Mark BegichDAK$53,675$25,700
    Michael F. BennetDCO$111,239$107,350
    Bob BennettRUT$5,000$178,500
    Jesse "Jeff" BingamanDNM$25,250$42,466
    Christopher "Kit" BondRMO$5,400$22,250
    Barbara BoxerDCA$106,273$63,650
    Sherrod BrownDOH$101,672$112,037
    Sam BrownbackRKS$2,600$5,000
    Jim BunningRKY$0$35,875
    Richard BurrRNC$5,250$236,034
    Roland BurrisDIL$0$0
    Robert ByrdDWV$44,700$65,850
    Maria CantwellDWA$74,850$41,185
    Ben CardinDMD$78,900$71,900
    Tom CarperDDE$6,800$193,329
    Bob CaseyDPA$135,050$146,580
    Clarence Saxby ChamblissRGA$7,400$254,373
    Tom CoburnROK$2,650$74,000
    William Thad CochranRMS$1,500$46,150
    Susan M. CollinsRME$2,200$138,054
    Gaylord Kent ConradDND$19,350$122,672
    Bob CorkerRTN$23,526$326,825
    John CornynRTX$45,375$390,908
    Mike CrapoRID$2,350$146,682
    Jim DeMintRSC$500$110,805
    Chris DoddDCT$80,100$286,850
    Byron DorganDND$18,100$35,000
    Dick DurbinDIL$55,850$161,750
    John EnsignRNV$7,600$70,350
    Mike EnziRWY$5,000$84,000
    Russ FeingoldDWI$69,400$48,670
    Dianne FeinsteinDCA$54,289$71,700
    Al FrankenDMN$137,932$44,650
    Kirsten E. GillibrandDNY$242,494$308,846
    Lindsey GrahamRSC$18,250$122,063
    Chuck GrassleyRIA$12,050$92,091
    Judd GreggRNH$0$8,000
    Kay R. HaganDNC$99,293$71,133
    Tom HarkinDIA$124,330$90,221
    Orrin G. HatchRUT$10,000$138,470
    Kay Bailey HutchisonRTX$15,200$199,500
    Jim InhofeROK$13,100$93,625
    Dan InouyeDHI$17,400$83,975
    Johnny IsaksonRGA$11,100$166,750
    Mike JohannsRNE$0$120,200
    Tim JohnsonDSD$36,698$263,847
    Ted KaufmanDDE$0$0
    John F. KerryDMA$43,050$52,250
    Paul KirkDMA$0$0
    Amy KlobucharDMN$107,263$129,249
    Herb KohlDWI$0$0
    Jon KylRAZ$21,900$242,700
    Mary L. LandrieuDLA$54,700$138,899
    Frank R. LautenbergDNJ$49,787$58,150
    George LeMieuxRFL$0$0
    Patrick J. LeahyDVT$28,600$29,285
    Carl LevinDMI$70,721$60,200
    Joe LiebermanICT$91,500$223,550
    Blanche LincolnDAR$50,133$196,868
    Dick LugarRIN$21,250$68,925
    John McCainRAZ$22,300$65,425
    Claire McCaskillDMO$77,020$74,350
    Addison "Mitch" McConnellRKY$52,650$425,975
    Bob MenéndezDNJ$121,770$170,750
    Jeff MerkleyDOR$88,087$56,360
    Barbara A. MikulskiDMD$39,133$29,000
    Lisa MurkowskiRAK$8,000$50,570
    Patty MurrayDWA$85,333$64,805
    Earl "Ben" NelsonDNE$21,900$178,779
    Clarence "Bill" NelsonDFL$24,600$100,050
    Mark L. PryorDAR$30,888$120,192
    John "Jack" ReedDRI$24,500$195,271
    Harry ReidDNV$114,300$234,150
    Jim RischRID$3,300$45,500
    Charles "Pat" RobertsRKS$6,850$220,140
    John "Jay" RockefellerDWV$44,850$70,000
    Bernie SandersIVT$51,300$28,700
    Chuck SchumerDNY$93,428$165,650
    Jeff SessionsRAL$0$123,682
    Jeanne ShaheenDNH$93,359$51,908
    Richard C. ShelbyRAL$0$232,300
    Olympia J. SnoweRME$20,700$76,720
    Arlen SpecterDPA$105,870$119,700
    Debbie StabenowDMI$78,705$158,836
    Jon TesterDMT$50,500$94,670
    John ThuneRSD$11,800$190,180
    Mark UdallDCO$168,609$89,766
    Tom UdallDNM$112,017$31,783
    David VitterRLA$6,150$109,700
    George VoinovichROH$8,100$67,850
    Mark R. WarnerDVA$114,350$148,650
    Jim WebbDVA$65,460$30,900
    Sheldon WhitehouseDRI$71,250$46,350
    Roger F. WickerRMS$7,300$163,024
    Ron WydenDOR$15,800$55,000

    Interest Groups that supported this bill

    $ Donated
    Non-profit foundations$2,022,519
    Minority/Ethnic Groups$1,082,099
    Commercial service unions$491,850
    Communications & hi-tech unions$400,650
    Labor Unions$342,550
    Human Rights$42,001
    Consumer groups$10,500

    Interest Groups that opposed this bill

    $ Donated
    Commercial banks & bank holding companies$9,661,154
    Credit unions$1,044,297
    Savings banks & Savings and Loans$497,220
    General business associations$212,753
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