U.S. Congress - H.R.1456 Consumer Overdraft Protection Fair Practices Act
H.R.1456 - Consumer Overdraft Protection Fair Practices Act
To extend the protections of the Truth in Lending Act to overdraft protection programs and services provided by depository institutions, to require customer consent before a depository institution may initiate overdraft protection services and fees, to enhance the information made available to consumers relating to overdraft protection services and fees, to prohibit systematic manipulation in the posting of checks and other debits to a depository account for the purpose of generating overdraft protection fees, and for other purposes. view all titles (2)
All Bill Titles
- Official: To extend the protections of the Truth in Lending Act to overdraft protection programs and services provided by depository institutions, to require customer consent before a depository institution may initiate overdraft protection services and fees, to enhance the information made available to consumers relating to overdraft protection services and fees, to prohibit systematic manipulation in the posting of checks and other debits to a depository account for the purpose of generating overdraft protection fees, and for other purposes. as introduced.
- Short: Consumer Overdraft Protection Fair Practices Act as introduced.
This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.
Bill's Views
- Today: 3
- Past Seven Days: 26
- All-Time: 3,583
|
|
|
|
|
|
|
|
Official Summary
3/12/2009--Introduced.Consumer Overdraft Protection Fair Practices Act - Amends the Truth in Lending Act to set forth restrictions upon overdraft protection fees or services placed upon a consumer account in order to cover any debit due to insufficient funds in such account. Prohibits certOfficial Summary
3/12/2009--Introduced.Consumer Overdraft Protection Fair Practices Act - Amends the Truth in Lending Act to set forth restrictions upon overdraft protection fees or services placed upon a consumer account in order to cover any debit due to insufficient funds in such account. Prohibits certain misrepresentations made by an institution that it will extend credit to cover all overdrafts. Prohibits specified advertising claims regarding overdraft protection programs or services, including any representation or statement encouraging use of the account as a service to:(1) meet short-term credit needs; or
(2) obtain advances on a consumer's next payment of salary, wages, benefits, or other income. Authorizes the Board of Governors of the Federal Reserve System to restrict additional acts or practices the Board deems unfair or deceptive in connection with the offering, operation, and advertising of overdraft protection programs and services. Amends the Electronic Fund Transfer Act to set forth restrictions governing overdraft protection services and fees concerning payment of an electronic fund transfer initiated by the consumer at an automated teller machine (ATM) despite of a lack of sufficient funds in the consumer's account. Amends the Expedited Funds Availability Act to prohibit a depository institution from:
(1) imposing overdraft protection fees for paying any check drawn on the account in spite of a lack of sufficient funds unless the account holder has affirmatively requested such service; or
(2) engaging in a pattern or practice of delaying the posting of any deposit in an account, or manipulating the process of posting any check or other debit against an account, if such pattern or practice results in an overdraft that triggers payment of an overdraft protection fee.
...Read the Rest
Organizations Supporting H.R.1456
- Consumer Action
- Consumers Union
- Demos
- National Association of Consumer Advocates
- National Consumer Law Center
- National Training and Information Center
- ...and 8 more. See all.
Organizations Opposing H.R.1456
- American Bankers Association
- Independent Community Bankers of America
- Credit Union National Association
Recent News Coverage
Hmmmm, no news coverage found for this bill at this time. This means that this this bill has not yet been mentioned on a publicly-searchable news website by either its official number (for example, "H.R. 3200") or title (for example, "America's Affordable Health Choices Act of 2009"). As soon as that changes, our daily automated search across the Web will catch it and include it here. If this bill is of interest to you, you can write a letter to the editor referring to this bill by name, and if your letter is published on the Web, a link back your letter will appear here within about one day. Or, if you know of a news article about this bill to display here, email us the web address of this page and the web address of your suggested news article: Our editorial team will post relevant links as quickly as possible. Thanks for helping to build public knowledge about Congress.
Recent Blog Coverage
View All (117)
|
View Top Rated
Find Banks without Overdraft Fees: 3 Tips
Carolyn Maloney (D-NY) introduced bill HR 1456, the Consumer Overdraft Protection Fair Practices Act. In short, this bill requires that overdraft protection programs become opt-in, meaning customers must elect to be enrolled rather than ...
Bank Overdraft Fees – HR 1456 Bill – Part 3
Badisse.com HR 1456 pending in Congress will provide the following protection Consumer Overdraft Protection Fair Practices Act, (HR 1456) has three main components: • It would require banks to provide their customers with the option of ...
Find banks but overdraft fees: 3 tips
Carolyn Maloney is because (D-NY) introduced Bill HR 1456, a Consumer Overdraft Protection opposite Practices Act. In short, this check requires which programs to strengthen opposite overdrafts turn opt-in, ie business contingency ...
Users tracking H.R.1456 (13) are also tracking:
| Bills | People | Issues |
|---|---|---|
Users supporting H.R.1456 (24) are also:
| Supporting Bill | Supporting Senator | Supporting Representative |
|---|---|---|
| Opposing Bill | Opposing Senator | Opposing Representative |
|---|---|---|
Users opposing H.R.1456 (2) are also:
| Supporting Bill | Supporting Senator | Supporting Representative |
|---|---|---|
| Opposing Bill | Opposing Senator | Opposing Representative |
|---|---|---|
Vote on This Bill
-
Share This Bill
More Share via Email
