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 $53,450 Against $113,911
  2. March - April 2005 For $102,900 Against $335,969
  3. May - June 2005 For $117,050 Against $265,412
  4. July - August 2005 For $71,300 Against $185,737
  5. September - October 2005 For $97,700 Against $330,405
  6. November - December 2005 For $93,250 Against $276,259
  7. January - February 2006 For $44,450 Against $129,790
  8. March - April 2006 For $126,995 Against $363,407
  9. May - June 2006 For $151,846 Against $339,670
  10. July - August 2006 For $79,500 Against $259,167
  11. September - October 2006 For $340,511 Against $474,010
  12. November - December 2006 For $39,000 Against $356,730
  13. January - February 2007 For $27,200 Against $296,699
  14. March - April 2007 For $122,250 Against $528,931
  15. May - June 2007 For $158,137 Against $427,165
  16. July - August 2007 For $83,159 Against $231,608
  17. September - October 2007 For $118,080 Against $358,399
  18. November - December 2007 For $149,300 Against $333,981
  19. January - February 2008 For $70,050 Against $252,110
  20. March - April 2008 For $133,427 Against $366,663
  21. May - June 2008 For $222,217 Against $471,566
  22. July - August 2008 For $101,081 Against $308,255
  23. September - October 2008 For $256,542 Against $386,275
  24. November - December 2008 For $58,950 Against $166,120
  25. January - February 2009 For $65,900 Against $141,600
  26. March - April 2009 For $138,600 Against $232,050
  27. May - June 2009 For $134,200 Against $269,275
  28. July - August 2009 For $68,717 Against $200,600
  29. September - October 2009 For $115,002 Against $296,037
  30. November - December 2009 For $116,320 Against $242,800
  31. January - February 2010 For $63,712 Against $232,400
  32. March - April 2010 For $98,300 Against $338,600
  33. May - June 2010 For $71,164 Against $270,000
  34. July - August 2010 For $31,770 Against $149,159
  35. September - October 2010 For $141,240 Against $312,690
  36. November - December 2010 For $29,300 Against $178,500

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$45,490$57,800
    Andrew Lamar AlexanderRTN$19,500$94,000
    John BarrassoRWY$0$50,450
    Max BaucusDMT$33,050$232,629
    Birch "Evan" BayhDIN$15,650$118,621
    Mark BegichDAK$55,425$18,550
    Michael BennetDCO$95,789$100,200
    Bob BennettRUT$5,000$158,950
    Jesse "Jeff" BingamanDNM$26,250$35,150
    Christopher "Kit" BondRMO$5,600$18,800
    Barbara BoxerDCA$109,683$51,650
    Sherrod BrownDOH$93,472$113,912
    Sam BrownbackRKS$2,100$4,000
    Jim BunningRKY$0$28,949
    Richard BurrRNC$5,250$242,332
    Roland BurrisDIL$0$0
    Robert ByrdDWV$42,950$50,850
    Maria CantwellDWA$64,850$42,335
    Ben CardinDMD$76,750$59,650
    Tom CarperDDE$6,800$220,179
    Bob CaseyDPA$118,150$143,075
    Clarence Saxby ChamblissRGA$5,100$228,998
    Tom CoburnROK$2,900$73,500
    William Thad CochranRMS$1,500$40,150
    Susan CollinsRME$2,400$113,904
    Gaylord Kent ConradDND$21,600$117,922
    Bob CorkerRTN$13,600$256,150
    John CornynRTX$46,675$361,908
    Mike CrapoRID$9,550$151,407
    Jim DeMintRSC$500$104,910
    Chris DoddDCT$45,500$281,800
    Byron DorganDND$19,100$23,000
    Dick DurbinDIL$52,600$166,500
    John EnsignRNV$6,900$64,350
    Mike EnziRWY$5,000$85,300
    Russ FeingoldDWI$60,750$41,920
    Dianne FeinsteinDCA$43,139$69,000
    Alan FrankenDMN$114,550$37,450
    Kirsten GillibrandDNY$191,339$316,196
    Lindsey GrahamRSC$20,150$115,350
    Chuck GrassleyRIA$5,250$96,541
    Judd GreggRNH$0$8,000
    Kay HaganDNC$66,650$56,683
    Tom HarkinDIA$111,780$84,771
    Orrin HatchRUT$8,500$133,770
    Kay Bailey HutchisonRTX$9,000$138,250
    Jim InhofeROK$15,500$58,800
    Dan InouyeDHI$36,450$78,275
    Johnny IsaksonRGA$8,100$145,875
    Mike JohannsRNE$0$109,500
    Tim JohnsonDSD$44,048$235,544
    Ted KaufmanDDE$0$0
    John KerryDMA$40,350$57,830
    Paul KirkDMA$0$0
    Amy KlobucharDMN$95,863$112,849
    Herb KohlDWI$0$0
    Jon KylRAZ$14,900$220,750
    Mary LandrieuDLA$51,450$127,299
    Frank LautenbergDNJ$44,937$53,650
    George LeMieuxRFL$0$0
    Patrick LeahyDVT$24,550$25,285
    Carl LevinDMI$67,471$56,350
    Joe LiebermanICT$66,100$179,300
    Blanche LincolnDAR$39,883$173,368
    Dick LugarRIN$23,250$48,100
    John McCainRAZ$15,500$57,075
    Claire McCaskillDMO$69,320$63,150
    Addison "Mitch" McConnellRKY$40,050$401,600
    Bob MenéndezDNJ$116,170$171,150
    Jeff MerkleyDOR$75,006$38,750
    Barbara MikulskiDMD$37,183$22,250
    Lisa MurkowskiRAK$16,750$46,820
    Patty MurrayDWA$92,683$57,825
    Earl "Ben" NelsonDNE$21,900$164,929
    Clarence "Bill" NelsonDFL$20,000$80,600
    Mark PryorDAR$30,088$103,892
    John "Jack" ReedDRI$24,000$192,299
    Harry ReidDNV$121,100$226,850
    Jim RischRID$0$40,000
    Charles "Pat" RobertsRKS$4,550$184,840
    John "Jay" RockefellerDWV$36,550$68,200
    Bernie SandersIVT$59,450$24,250
    Chuck SchumerDNY$88,628$176,150
    Jeff SessionsRAL$0$108,732
    Jeanne ShaheenDNH$65,828$39,708
    Richard ShelbyRAL$0$260,800
    Olympia SnoweRME$20,650$60,250
    Arlen SpecterDPA$89,270$111,950
    Debbie StabenowDMI$67,505$149,836
    Jon TesterDMT$39,600$91,750
    John ThuneRSD$10,200$159,275
    Mark UdallDCO$147,428$72,100
    Tom UdallDNM$111,257$16,483
    David VitterRLA$4,650$91,325
    George VoinovichROH$7,600$47,650
    Mark WarnerDVA$94,350$129,600
    Jim WebbDVA$43,560$24,500
    Sheldon WhitehouseDRI$44,400$39,950
    Roger WickerRMS$4,300$151,824
    Ron WydenDOR$14,400$53,000

    Add Data Filters:

    Legislator Filters
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    NamePartyState$ From Interest Groups
    That Supported
    $ From Interest Groups
    That Opposed
    Daniel K. AkakaDHI$45,490$57,800
    Andrew Lamar AlexanderRTN$19,500$94,000
    John BarrassoRWY$0$50,450
    Max BaucusDMT$33,050$232,629
    Birch "Evan" BayhDIN$15,650$118,621
    Mark BegichDAK$55,425$18,550
    Michael BennetDCO$95,789$100,200
    Bob BennettRUT$5,000$158,950
    Jesse "Jeff" BingamanDNM$26,250$35,150
    Christopher "Kit" BondRMO$5,600$18,800
    Barbara BoxerDCA$109,683$51,650
    Sherrod BrownDOH$93,472$113,912
    Sam BrownbackRKS$2,100$4,000
    Jim BunningRKY$0$28,949
    Richard BurrRNC$5,250$242,332
    Roland BurrisDIL$0$0
    Robert ByrdDWV$42,950$50,850
    Maria CantwellDWA$64,850$42,335
    Ben CardinDMD$76,750$59,650
    Tom CarperDDE$6,800$220,179
    Bob CaseyDPA$118,150$143,075
    Clarence Saxby ChamblissRGA$5,100$228,998
    Tom CoburnROK$2,900$73,500
    William Thad CochranRMS$1,500$40,150
    Susan CollinsRME$2,400$113,904
    Gaylord Kent ConradDND$21,600$117,922
    Bob CorkerRTN$13,600$256,150
    John CornynRTX$46,675$361,908
    Mike CrapoRID$9,550$151,407
    Jim DeMintRSC$500$104,910
    Chris DoddDCT$45,500$281,800
    Byron DorganDND$19,100$23,000
    Dick DurbinDIL$52,600$166,500
    John EnsignRNV$6,900$64,350
    Mike EnziRWY$5,000$85,300
    Russ FeingoldDWI$60,750$41,920
    Dianne FeinsteinDCA$43,139$69,000
    Alan FrankenDMN$114,550$37,450
    Kirsten GillibrandDNY$191,339$316,196
    Lindsey GrahamRSC$20,150$115,350
    Chuck GrassleyRIA$5,250$96,541
    Judd GreggRNH$0$8,000
    Kay HaganDNC$66,650$56,683
    Tom HarkinDIA$111,780$84,771
    Orrin HatchRUT$8,500$133,770
    Kay Bailey HutchisonRTX$9,000$138,250
    Jim InhofeROK$15,500$58,800
    Dan InouyeDHI$36,450$78,275
    Johnny IsaksonRGA$8,100$145,875
    Mike JohannsRNE$0$109,500
    Tim JohnsonDSD$44,048$235,544
    Ted KaufmanDDE$0$0
    John KerryDMA$40,350$57,830
    Paul KirkDMA$0$0
    Amy KlobucharDMN$95,863$112,849
    Herb KohlDWI$0$0
    Jon KylRAZ$14,900$220,750
    Mary LandrieuDLA$51,450$127,299
    Frank LautenbergDNJ$44,937$53,650
    George LeMieuxRFL$0$0
    Patrick LeahyDVT$24,550$25,285
    Carl LevinDMI$67,471$56,350
    Joe LiebermanICT$66,100$179,300
    Blanche LincolnDAR$39,883$173,368
    Dick LugarRIN$23,250$48,100
    John McCainRAZ$15,500$57,075
    Claire McCaskillDMO$69,320$63,150
    Addison "Mitch" McConnellRKY$40,050$401,600
    Bob MenéndezDNJ$116,170$171,150
    Jeff MerkleyDOR$75,006$38,750
    Barbara MikulskiDMD$37,183$22,250
    Lisa MurkowskiRAK$16,750$46,820
    Patty MurrayDWA$92,683$57,825
    Earl "Ben" NelsonDNE$21,900$164,929
    Clarence "Bill" NelsonDFL$20,000$80,600
    Mark PryorDAR$30,088$103,892
    John "Jack" ReedDRI$24,000$192,299
    Harry ReidDNV$121,100$226,850
    Jim RischRID$0$40,000
    Charles "Pat" RobertsRKS$4,550$184,840
    John "Jay" RockefellerDWV$36,550$68,200
    Bernie SandersIVT$59,450$24,250
    Chuck SchumerDNY$88,628$176,150
    Jeff SessionsRAL$0$108,732
    Jeanne ShaheenDNH$65,828$39,708
    Richard ShelbyRAL$0$260,800
    Olympia SnoweRME$20,650$60,250
    Arlen SpecterDPA$89,270$111,950
    Debbie StabenowDMI$67,505$149,836
    Jon TesterDMT$39,600$91,750
    John ThuneRSD$10,200$159,275
    Mark UdallDCO$147,428$72,100
    Tom UdallDNM$111,257$16,483
    David VitterRLA$4,650$91,325
    George VoinovichROH$7,600$47,650
    Mark WarnerDVA$94,350$129,600
    Jim WebbDVA$43,560$24,500
    Sheldon WhitehouseDRI$44,400$39,950
    Roger WickerRMS$4,300$151,824
    Ron WydenDOR$14,400$53,000

    Interest Groups that supported this bill

    $ Donated
    Non-profit foundations$1,471,948
    Minority/Ethnic Groups$1,166,822
    Commercial service unions$472,500
    Communications & hi-tech unions$422,400
    Labor Unions$321,700
    Human Rights$31,100
    Consumer groups$6,100

    Interest Groups that opposed this bill

    $ Donated
    Commercial banks & bank holding companies$8,647,844
    Credit unions$997,575
    Savings banks & Savings and Loans$466,778
    General business associations$309,753
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