H.R.5244 - Credit Cardholders' Bill of Rights Act of 2008

To amend the Truth in Lending Act to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan, and for other purposes. view all titles (2)

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All Bill Titles

  • Short: Credit Cardholders' Bill of Rights Act of 2008 as introduced.
  • Official: To amend the Truth in Lending Act to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan, and for other purposes. as introduced.

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Bill's Views

  • Today: 51
  • Past Seven Days: 153
  • All-Time: 11,275
 
Introduced
 
House
Passed
 
Senate
Passes
 
President
Signs
 

 
02/06/08
 
09/23/08
 
 
 
 
 

Official Bill Text Comment on about 26 Pages

Sponsor

Representative

Carolyn Maloney

D-NY

View Co-Sponsors (155)
 

Latest Vote

Result: Passed - September 23, 2008

Roll call number 623 in the House

Question: On Passage: H R 5244 Credit Cardholders’ Bill of Rights Act of 2008

Required percentage of 'Aye' votes: 1/2 (50%)
Percentage of 'aye' votes: 72%
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Democrats Voting 'Aye'

Neil Abercrombie
Rep. Gary Ackerman [D, NY-5]
Thomas Allen
Rep. Jason Altmire [D, PA-4]
Rep. Robert Andrews [D, NJ-1]
Michael Arcuri
Rep. Joe Baca [D, CA-43]
Brian Baird
Rep. Tammy Baldwin [D, WI-2]
Rep. John Barrow [D, GA-12]
Melissa Bean
Rep. Xavier Becerra [D, CA-31]
Rep. Shelley Berkley [D, NV-1]
Rep. Howard Berman [D, CA-28]
Robert Berry
Rep. Timothy Bishop [D, NY-1]
Rep. Sanford Bishop [D, GA-2]
Rep. Earl Blumenauer [D, OR-3]
Rep. Dan Boren [D, OK-2]
Rep. Leonard Boswell [D, IA-3]
Frederick Boucher
Allen Boyd
Nancy Boyda
Rep. Robert Brady [D, PA-1]
Rep. Corrine Brown [D, FL-3]
Rep. George Butterfield [D, NC-1]
Rep. Lois Capps [D, CA-23]
Rep. Michael Capuano [D, MA-8]
Rep. Dennis Cardoza [D, CA-18]
Rep. Russ Carnahan [D, MO-3]
Christopher Carney
Rep. André Carson [D, IN-7]
Rep. Kathy Castor [D, FL-11]
Donald Cazayoux
Rep. Ben Chandler [D, KY-6]
Travis Childers
Rep. Yvette Clarke [D, NY-11]
Rep. William Clay [D, MO-1]
Rep. Emanuel Cleaver [D, MO-5]
Rep. James Clyburn [D, SC-6]
Rep. Steve Cohen [D, TN-9]
Rep. John Conyers [D, MI-14]
Rep. Jim Costa [D, CA-20]
Rep. Jerry Costello [D, IL-12]
Rep. Joe Courtney [D, CT-2]
Robert Cramer
Rep. Joseph Crowley [D, NY-7]
Rep. Henry Cuellar [D, TX-28]
Rep. Elijah Cummings [D, MD-7]
Artur Davis
Rep. Susan Davis [D, CA-53]
Rep. Danny Davis [D, IL-7]
Rep. Peter DeFazio [D, OR-4]
Rep. Diana DeGette [D, CO-1]
William Delahunt
Rep. Rosa DeLauro [D, CT-3]
Rep. Norman Dicks [D, WA-6]
Rep. John Dingell [D, MI-15]
Rep. Lloyd Doggett [D, TX-25]
Rep. Joe Donnelly [D, IN-2]
Rep. Michael Doyle [D, PA-14]
Thomas Edwards
Rep. Keith Ellison [D, MN-5]
Brad Ellsworth
Rahm Emanuel
Rep. Eliot Engel [D, NY-17]
Rep. Anna Eshoo [D, CA-14]
Bob Etheridge
Rep. Sam Farr [D, CA-17]
Rep. Chaka Fattah [D, PA-2]
Rep. Bob Filner [D, CA-51]
Bill Foster
Rep. Barney Frank [D, MA-4]
Rep. Gabrielle Giffords [D, AZ-8]
Sen. Kirsten Gillibrand [D, NY]
Rep. Charles Gonzalez [D, TX-20]
Rep. Al Green [D, TX-9]
Rep. Raymond Green [D, TX-29]
Rep. Raul Grijalva [D, AZ-7]
Rep. Luis Gutiérrez [D, IL-4]
John Hall
Phil Hare
Rep. Jane Harman [D, CA-36]
Rep. Alcee Hastings [D, FL-23]
Rep. Brian Higgins [D, NY-27]
Baron Hill
Rep. Maurice Hinchey [D, NY-22]
Rep. Rubén Hinojosa [D, TX-15]
Rep. Mazie Hirono [D, HI-2]
Paul Hodes
Rep. Tim Holden [D, PA-17]
Rep. Rush Holt [D, NJ-12]
Rep. Michael Honda [D, CA-15]
Darlene Hooley
Rep. Steny Hoyer [D, MD-5]
Rep. Jay Inslee [D, WA-1]
Rep. Steve Israel [D, NY-2]
Rep. Jesse Jackson [D, IL-2]
Rep. Sheila Jackson-Lee [D, TX-18]
William Jefferson
Rep. Henry Johnson [D, GA-4]
Rep. Eddie Johnson [D, TX-30]
Steve Kagen
Paul Kanjorski
Rep. Marcy Kaptur [D, OH-9]
Patrick Kennedy
Rep. Dale Kildee [D, MI-5]
Carolyn Kilpatrick
Rep. Ronald Kind [D, WI-3]
Ron Klein
Rep. Dennis Kucinich [D, OH-10]
Nicholas Lampson
Rep. James Langevin [D, RI-2]
Rep. Rick Larsen [D, WA-2]
Rep. John Larson [D, CT-1]
Rep. Barbara Lee [D, CA-9]
Rep. Sander Levin [D, MI-12]
Rep. John Lewis [D, GA-5]
Rep. Daniel Lipinski [D, IL-3]
Rep. David Loebsack [D, IA-2]
Rep. Zoe Lofgren [D, CA-16]
Rep. Nita Lowey [D, NY-18]
Rep. Stephen Lynch [D, MA-9]
Tim Mahoney
Rep. Carolyn Maloney [D, NY-14]
Rep. Edward Markey [D, MA-7]
James Marshall
Rep. Jim Matheson [D, UT-2]
Rep. Doris Matsui [D, CA-5]
Rep. Carolyn McCarthy [D, NY-4]
Rep. Betty McCollum [D, MN-4]
Rep. James McDermott [D, WA-7]
Rep. James McGovern [D, MA-3]
Rep. Mike McIntyre [D, NC-7]
Rep. Jerry McNerney [D, CA-11]
Michael McNulty
Kendrick Meek
Rep. Gregory Meeks [D, NY-6]
Charles Melancon
Rep. Michael Michaud [D, ME-2]
Rep. Bradley Miller [D, NC-13]
Rep. George Miller [D, CA-7]
Harry Mitchell
Alan Mollohan
Rep. Gwen Moore [D, WI-4]
Dennis Moore
Rep. James Moran [D, VA-8]
Patrick Murphy
Rep. Christopher Murphy [D, CT-5]
John Murtha
Rep. Jerrold Nadler [D, NY-8]
Rep. Grace Napolitano [D, CA-38]
Rep. Richard Neal [D, MA-2]
James Oberstar
David Obey
Rep. John Olver [D, MA-1]
Solomon Ortiz
Rep. Frank Pallone [D, NJ-6]
Rep. William Pascrell [D, NJ-8]
Rep. Edward Pastor [D, AZ-4]
Rep. Donald Payne [D, NJ-10]
Rep. Ed Perlmutter [D, CO-7]
Rep. Collin Peterson [D, MN-7]
Earl Pomeroy
Rep. David Price [D, NC-4]
Rep. Nick Rahall [D, WV-3]
Rep. Charles Rangel [D, NY-15]
Rep. Laura Richardson [D, CA-37]
Ciro Rodriguez
Rep. Mike Ross [D, AR-4]
Rep. Steven Rothman [D, NJ-9]
Rep. Lucille Roybal-Allard [D, CA-34]
Rep. Dutch Ruppersberger [D, MD-2]
Rep. Bobby Rush [D, IL-1]
Rep. Timothy Ryan [D, OH-17]
John Salazar
Rep. Loretta Sanchez [D, CA-47]
Rep. Linda Sánchez [D, CA-39]
Rep. John Sarbanes [D, MD-3]
Rep. Janice Schakowsky [D, IL-9]
Rep. Adam Schiff [D, CA-29]
Rep. Allyson Schwartz [D, PA-13]
Rep. Robert Scott [D, VA-3]
Rep. David Scott [D, GA-13]
Rep. José Serrano [D, NY-16]
Joe Sestak
Carol Shea-Porter
Rep. Brad Sherman [D, CA-27]
Rep. Heath Shuler [D, NC-11]
Rep. Albio Sires [D, NJ-13]
Ike Skelton
Rep. Louise Slaughter [D, NY-28]
Rep. Adam Smith [D, WA-9]
Victor Snyder
Hilda Solis
Zachary Space
Rep. Jackie Speier [D, CA-12]
John Spratt
Rep. Fortney Stark [D, CA-13]
Bart Stupak
Rep. Betty Sutton [D, OH-13]
John Tanner
Ellen Tauscher
Gene Taylor
Rep. Bennie Thompson [D, MS-2]
Rep. Michael Thompson [D, CA-1]
Rep. John Tierney [D, MA-6]
Rep. Edolphus Towns [D, NY-10]
Rep. Niki Tsongas [D, MA-5]
Sen. Mark Udall [D, CO]
Sen. Tom Udall [D, NM]
Rep. Christopher Van Hollen [D, MD-8]
Rep. Nydia Velázquez [D, NY-12]
Rep. Peter Visclosky [D, IN-1]
Rep. Timothy Walz [D, MN-1]
Rep. Debbie Wasserman Schultz [D, FL-20]
Rep. Maxine Waters [D, CA-35]
Diane Watson
Rep. Melvin Watt [D, NC-12]
Rep. Henry Waxman [D, CA-30]
Rep. Anthony Weiner [D, NY-9]
Rep. Peter Welch [D, VT-0]
Robert Wexler
Charles Wilson
Rep. Lynn Woolsey [D, CA-6]
Rep. David Wu [D, OR-1]
Rep. John Yarmuth [D, KY-3]
Close

Republicans Voting 'Aye'

Rep. Robert Aderholt [R, AL-4]
Rep. Roscoe Bartlett [R, MD-6]
Rep. Joe Barton [R, TX-6]
Rep. Judy Biggert [R, IL-13]
Rep. Gus Bilirakis [R, FL-9]
Rep. Mary Bono Mack [R, CA-45]
Sen. John Boozman [R, AR]
Rep. Charles Boustany [R, LA-7]
Henry Brown
Virginia Brown-Waite
Rep. Vern Buchanan [R, FL-13]
Rep. Michael Burgess [R, TX-26]
Stephen Buyer
Rep. David Camp [R, MI-4]
Rep. Shelley Capito [R, WV-2]
Rep. Ander Crenshaw [R, FL-4]
Rep. John Culberson [R, TX-7]
David Davis
Rep. Charles Dent [R, PA-15]
Lincoln Diaz-Balart
Rep. Mario Diaz-Balart [R, FL-21]
Thelma Drake
Rep. John Duncan [R, TN-2]
Vernon Ehlers
Rep. Jo Ann Emerson [R, MO-8]
Philip English
Rep. Randy Forbes [R, VA-4]
Rep. Elton Gallegly [R, CA-24]
Rep. Jim Gerlach [R, PA-6]
Wayne Gilchrest
Virgil Goode
Rep. Samuel Graves [R, MO-6]
Rep. Ralph Hall [R, TX-4]
Robin Hayes
Duncan Hunter
Rep. Timothy Johnson [R, IL-15]
Rep. Walter Jones [R, NC-3]
Ric Keller
Sen. Mark Kirk [R, IL]
Joseph Knollenberg
Ray LaHood
Rep. Steven LaTourette [R, OH-14]
Ron Lewis
Rep. Frank LoBiondo [R, NJ-2]
Rep. Michael McCaul [R, TX-10]
Rep. Thaddeus McCotter [R, MI-11]
James McCrery
John McHugh
Rep. John Mica [R, FL-7]
Rep. Candice Miller [R, MI-10]
Rep. Tim Murphy [R, PA-18]
John Peterson
Rep. Thomas Petri [R, WI-6]
Charles Pickering
Rep. Todd Platts [R, PA-19]
Jon Porter
George Radanovich
James Ramstad
Ralph Regula
Rep. Dennis Rehberg [R, MT-0]
Rep. Dave Reichert [R, WA-8]
Rick Renzi
Rep. Michael Rogers [R, AL-3]
Rep. Harold Rogers [R, KY-5]
Rep. Michael Rogers [R, MI-8]
Rep. Ileana Ros-Lehtinen [R, FL-18]
James Saxton
Christopher Shays
Rep. John Shimkus [R, IL-19]
Rep. Michael Simpson [R, ID-2]
Rep. Christopher Smith [R, NJ-4]
Rep. Clifford Stearns [R, FL-6]
Rep. Michael Turner [R, OH-3]
Rep. Frederick Upton [R, MI-6]
Rep. Greg Walden [R, OR-2]
James Walsh
Zach Wamp
Gerald Weller
Rep. Edward Whitfield [R, KY-1]
Heather Wilson
Rep. Rob Wittman [R, VA-1]
Rep. Frank Wolf [R, VA-10]
Rep. Donald Young [R, AK-0]
Rep. Bill Young [R, FL-10]
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Others Voting 'Aye'

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Others Voting 'Abstain'

 

OpenCongress Summary

Seeks to improve consumer protections against credit card industry abuses. Among its many proposed policies are better regulation of interest rate increases, increased protections for cardholders who pay on time, stricter guidelines against misleading terms in contracts and new congressional reporting requirements on industry profits, rates and fees.
OpenCongress bill summaries are written by OpenCongress editors and are entirely independent of Congress and the federal government. For the summary provided by Congress itself, via the Congressional Research Service, see the "Official Summary" below.

Official Summary

2/7/2008--Introduced.Credit Cardholders' Bill of Rights Act of 2008 - Amends the Truth in Lending Act to prohibit a creditor from using certain adverse information, including information in a consumer report or any change in a consumer's credit score, as the basis for increasing
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Official Summary

2/7/2008--Introduced.
Credit Cardholders' Bill of Rights Act of 2008 - Amends the Truth in Lending Act to prohibit a creditor from using certain adverse information, including information in a consumer report or any change in a consumer's credit score, as the basis for increasing any annual percentage rate (APR) of interest on the consumer's outstanding balance under an open end consumer credit plan, except for actions or omissions of the consumer directly related to such account. (Thus eliminates the universal default for credit already outstanding.) Bars a creditor from changing any term of the contract or agreement of an open end consumer credit plan until contract renewal, except for specific material reasons already contained in the contract or agreement. Requires advance notice of credit card account rate increases. Authorizes a consumer who receives such notice to:
(1) cancel the credit card without penalty or the imposition of any fee; and
(2) pay any outstanding balance that accrued before the effective date of the increase at the APR and in the repayment period in effect before notice was received. Prohibits a creditor from imposing interest on credit repaid within the interest-free repayment time period. (Thus prohibits double cycle billing). Prohibits the imposition of fees on any outstanding balance on a credit card account attributable only to accrued interest on previously repaid credit. Requires each periodic statement of account to provide specified information on obtaining the payoff balance. Prohibits a creditor from furnishing information to a consumer reporting agency concerning a newly opened credit card account until the consumer has used or activated the credit card.
Details mandatory pro rata payment allocations by a creditor.
Authorizes a consumer to opt-out of creditor authorization of over-the-limit transactions if fees are imposed. Restricts the frequency of over-the-limit fees. Specifies the contents of credit card price and availability information the Board of Governors of the Federal Reserve System must collect and make public semiannually. Prescribes a standard for the initial issuance of subprime or "fee harvester" cards (accounts requiring first-year fee payments in excess of 25% of the total amount of credit authorized).


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Recent News Coverage

View All (11)  |  View Top Rated

09/27/08
After Kneeling, Banks Swagger: "No Protection for US Taxpayer"

Democrats in the House tacked HR 5244 into the bailout, passing it by a vote of 312-112. The resolution would protect Americans from the type of predatory ...

Source: OpEdNews, PA
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09/25/08
Banks love bailout, hate credit card curbs

The legislation -- HR 5244 -- would, among other things, end card issuers' self-proclaimed right to change interest rates at any time. ...

Source: Los Angeles Times, CA
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09/23/08
Greenwald Campaign: Latham rejects credit card holders’ bill of rights

(Boston Globe, 3/17/07) The Credit Card Holders Bill of Rights (HR 5244) passed the House despite Tom Latham’s vote. The bill will: · Protect against ...

Source: IowaPolitics.com (press release), IA
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Information made available by Daily Life
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Recent Blog Coverage

View All (306)  |  View Top Rated

04/21/09
Buffalo 14228: Credit Card Holders Bill of Rights

Last night, Congresswoman Carolyn Maloney (NY-14) congratulated her colleagues on the House Financial Services Committee for passing her Credit Cardholders' Bill of Rights. Now it will move onto another House vote and then pass over to ...

Source: Buffalo 14228
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01/01/09
MADD Going Mad with DUI Laws (Again, Still) : StoryTribe

Guilty Until Proven Innocent · Florida Gearing Up for 2008 Election Mayhem · HR 5244 Credit Cardholders Bill of Rights - Proceed with Caution · StoryTribe Comics · Staged Photos? Has Reuters Been Had with an Indian Stampede? ...

Source: StoryTribe
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12/20/08
Third Estate Sunday Review: Carolyn Maloney works her ass off for ...

Background: H.R. 5244, written by Rep. Carolyn Maloney after a series of roundtables with industry and consumer stakeholders and six public hearings, had 155 bipartisan cosponsors. It passed the House Financial Services Committee with ...

Source: Third Estate Sunday Review
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