S. 1833 (111th): Expedited CARD Reform for Consumers Act of 2009

Introduced:
Oct 21, 2009 (111th Congress, 2009–2010)
Sponsor:
Sen. Mark Udall [D-CO]
Status:
Died (Referred to Committee)
See Instead:

H.R. 3639 (same title)
Passed House — Nov 04, 2009

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on October 21, 2009, in a previous session of Congress, but was not enacted.

Progress
Introduced Oct 21, 2009
Referred to Committee Oct 21, 2009
Cosponsors
13 cosponsors (13D) (show)
Committees

Senate Banking, Housing, and Urban Affairs

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to amend the Credit Card Accountability Responsibility and Disclosure Act of 2009 to establish an earlier effective date for various consumer protections, and for other purposes.

Summary

No summaries available.

Text

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Last updated Oct 21, 2009.
3 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

10/21/2009--Introduced.
Expedited CARD Reform for Consumers Act of 2009 - Amends the Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act of 2009) to move up the effective date of the Act from February 20, 2010, to December 1, 2009.
Amends the Truth in Lending Act to move up also to December 1, 2009:
(1) the deadline by which the Board of Governors of the Federal Reserve System must issue final implementing rules for required creditor reviews of changes in factors considered in past consumer annual percentage interest rate (APR) increases when determining whether to reduce the APR; and
(2) the effective date of the creditor review requirement.
Moves up to the same date:
(1) the effective date of the requirement that any penalty fee or charge that a credit card issuer may impose, including a late payment fee, over-the-limit fee, or any other penalty fee or charge, be reasonable and proportional to the omission or violation to which it relates; and
(2) the deadline for the Board to issue final implementing rules establishing standards for assessing whether any such penalty fee or charge is reasonable and proportional.
Amends the Electronic Fund Transfer Act to move up to December 1, 2009, as well the effective dates of the Act's:
(1) prohibition against the imposition of a dormancy fee, an inactivity charge or fee, or a service fee with respect to general use prepaid cards, certificates, and store gift cards; and
(2) the deadline by which the Board must issue final implementing regulations.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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