S. 414: Credit Card Accountability Responsibility and Disclosure Act of 2009 (GovTrack.us)

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S. 414:

Credit Card Accountability Responsibility and Disclosure Act of 2009

111^th Congress

This is a bill in the U.S. Congress originating in the Senate ("S."). A bill must be passed by both the Senate and House and then be signed by the President before it becomes law.

Bill numbers restart from 1 every two years. Each two-year cycle is called a session of Congress. This bill was created in the 111^th Congress, in 2009-2010.

The titles of bills are written by the bill's sponsor and are a part of the legislation itself. GovTrack does not editorialize bill summaries.

2009-2010

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Primary Source

See S. 414 on THOMAS for the official source of information on this bill or resolution.

A bill to amend the Consumer Credit Protection Act, to ban abusive credit practices, enhance consumer disclosures, protect underage consumers, and for other purposes.

Overview

Sponsor:

Sen. Christopher Dodd [D-CT]show cosponsors (21)

Text:

Summary | Full Text

Cost:

$6 per American over the 2010-2014 period.

This is computed from a Congressional Budget Office report, merely by dividing the estimated cost of $1,400,000,000 by the U.S. population. The figure is extracted from the report automatically and may be incorrect. See the report for details.

Status:

	Introduced	Feb 11, 2009
	Referred to Committee	View Committee Assignments
	Reported by Committee	Mar 31, 2009
	Senate Vote	...
	House Vote	...
	Signed by President	...

This bill was considered in committee which has recommended it be considered by the Senate as a whole. Although it has been placed on a calendar of business, the order in which legislation is considered and voted on is determined by the majority party leadership. Keep in mind that sometimes the text of one bill is incorporated into another bill, and in those cases the original bill, as it would appear here, would seem to be abandoned. [Last Updated: Jan 6, 2010 7:34AM]

Last Action:

May 4, 2009: By Senator Dodd from Committee on Banking, Housing, and Urban Affairs filed written report. Report No. 111-16.

Other Titles:

-- Credit CARD Act of 2009

See the Related Legislation page for other bills related to this one and a list of subject terms that have been applied to this bill. Sometimes the text of one bill or resolution is incorporated into another, and in those cases the original bill or resolution, as it would appear here, would seem to be abandoned.

Question & Answer

Can you answer any of these questions posed by other users? Think of it as a civic good deed. See 27 more questions posed on this topic or submit your own question on the Q&A page.

Dec 30, 2009 12:55 PM - I have a credit card with a fixed rate with a credit union and I have not been using it for some time. I received a notice that they are converting my fixed rate to a variable rate starting January of 2010. Is this legal or am I covered by a provision in the Credit Card Act of 2009? Can you please quote that provision? Thank you. - Answer it!

Jan 22, 2010 3:58 PM - Is there an APR cap in the new legislation? I just received a credit card monthly statement showing an effective annual percentage rate of 355.72%. - Answer it!

and 27 more questions.

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|url=http://www.govtrack.us/congress/bill.xpd?bill=s111-414
|title=S. 414
|accessdate=Feb 9, 2010
|author=111th Congress (2009)
|date=Feb 11, 2009
|work=Legislation
|publisher=GovTrack.us
|quote=Credit Card Accountability Responsibility and Disclosure Act of 2009
}}

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