H.R.2007 - American Credit Card Reform Act

To amend the Truth in Lending Act to prevent certain unfair practices by credit card issuers, and for other purposes. view all titles (2)

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All Bill Titles

  • Official: To amend the Truth in Lending Act to prevent certain unfair practices by credit card issuers, and for other purposes. as introduced.
  • Short: American Credit Card Reform Act as introduced.

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Bill's Views

  • Today: 2
  • Past Seven Days: 4
  • All-Time: 1,120
 
Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
04/20/09
 
 
 
 
 
 
 

Official Bill Text Comment on about 4 Pages

Sponsor

Eric Massa

D-

No Co-Sponsors

Official Summary

4/21/2009--Introduced.American Credit Card Reform Act - Amends the Truth in Lending Act to prohibit the annual percentage rate (APR) applicable to any extension of credit on an open end consumer credit account from exceeding 14%. Prohibits a credit card issuer from imposing any fee or pena
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Official Summary

4/21/2009--Introduced.American Credit Card Reform Act - Amends the Truth in Lending Act to prohibit the annual percentage rate (APR) applicable to any extension of credit on an open end consumer credit account from exceeding 14%. Prohibits a credit card issuer from imposing any fee or penalty in connection with a transaction initiated by a consumer in which credit extended under such credit plan is applied to reduce an outstanding balance on another credit card account of the consumer. Prohibits a credit card issuer from:
(1) advertising any credit card account on the grounds of an institution of higher education through the distribution of written applications or solicitations; or
(2) amending or changing the terms of a credit card contract so long as the consumer remains in full compliance with the contract's existing terms. Prohibits the due date for any periodic payment on an outstanding credit card balance from being less than 30 days after:
(1) the date of the postmark on the envelope in which the periodic statement was sent to the consumer; or if no postmark appears on the envelope,
(2) the date that is three days after the closing date of such periodic statement.

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Recent Blog Coverage

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06/01/11
GOP Pulls Libya War Powers Resolution from the ... - OpenCongress

“[Republican leaders] hadn't seen much of a threat from [the Kucinich bill]. He's kind of this marginal figure and having his resolution go down narrowly would be no big deal and might even send a message to the ... -

Source: Donny Shaw
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06/01/11
GOP Pulls Libya War Powers Resolution from the ... - OpenCongress

“[Republican leaders] hadn't seen much of a threat from [the Kucinich bill]. He's kind of this marginal figure and having his resolution go down narrowly would be no big deal and might even send a message to the administration,” said one of the

Source: Donny Shaw
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05/31/11
Food Safety Overhaul Faces Defunding - Blog - OpenCongress

The House Ag Appropriations Subcommittee is holding a mark-up of the bill this evening. Chairman Rep. Jack Kingston [R, GA-1] is calling the cuts the beginning of “making some of the tough choices necessary to right the ... -

Source: Donny Shaw
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