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S. 414:
Credit Card Accountability Responsibility and Disclosure Act of 2009
111th 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 111th 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

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:
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:
Occurred: IntroducedFeb 11, 2009
Occurred: Referred to CommitteeView Committee Assignments
Occurred: Reported by CommitteeMar 31, 2009
Not Yet Occurred: Senate Vote...
Not Yet Occurred: House Vote...
Not Yet Occurred: 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: Nov 14, 2009 7:02AM]
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
Related:
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 23 more questions posed on this topic or submit your own question on the Q&A page.

Oct 30, 2009 3:21 PM - when does the law go into effect? - Answer it!
Nov 17, 2009 7:33 AM - What is to happen to everybody who has been hit with the rate increases in the past few months? Are the credit card companies going to lower everyone's rate to where it was before the bill? - Answer it!

Sources of Influence

MAPLight.org reports that the following organizations have taken a stance on this bill:

SupportOppose
Americans for Fairness in Lending
Consumer Action
Demos
National Association of Consumer Advocates
Center for Responsible Lending
National Consumer Law Center
National Association for the Advancement of Colored People
U.S. Public Interest Research Groups
Service Employees International Union
National Council of La Raza
Consumers Union
Consumer Federation of America
American Bankers Association

Follow the link to MAPLight.org to see if campaign contributions from employees of these organizations are correlated with how Members of Congress voted on this bill.

Because the U.S. Congress posts most legislative information online one legislative day after events occur, GovTrack is usually one legislative day behind. For more information about where this data comes from, see About GovTrack.us.
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