U.S. Congress - S.1833 Expedited CARD Reform for Consumers Act of 2009
S.1833 - Expedited CARD Reform for Consumers Act of 2009
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. view all titles (3)
All Bill Titles
- Official: 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. as introduced.
- Popular: Expedited CARD Reform for Consumers Act of 2009 as introduced.
- Short: Expedited CARD Reform for Consumers Act of 2009 as introduced.
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Official Summary
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 LendiOfficial Summary
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.
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Organizations Supporting S.1833
- Consumer Action
- Pew Charitable Trusts
- National Small Business Association
Organizations Opposing S.1833
- National Association of Federal Credit Unions
- American Bankers Association
- Credit Union National Association
- Consumer Bankers Association
Recent News Coverage
RE: S.1833
A Senate version of the bill (S. 1833) was introduced in late October by Colorado Sen. Mark Udall. In addition, banking committee Chairman Sen. ...
Recent Blog Coverage
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Credit card lenders go on a rampage « RevolutionRadio.org
But Senate opponents blocked a similar bill, S. 1833. Thank you, lawmakers. Now card issuers have way more time to maul consumers. Lenders actually started jacking up rates, lowering credit limits and closing accounts well before ...
Wie lässt sich Wohlstand messen? « Wiwi-Werkbank
Bd. 92.2008, 8/9, (Aug.2008) S. 1833-1845. prüfen & bestellen · Google-Scolar · Scirus - Elsevier; (2007) CEPS working paper ; 138 PDF-Volltext prüfen & bestellen Online-Ressource (28 S.). (Apr. 2007) Discussion paper series ...
"Credit card lenders go on a rampage" - Mo2kT
But Senate opponents have blocked a similar bill, S. 1833. Thank you, lawmakers. Now we're in for three more months of card issuers' foul play. Lenders actually started jacking up rates, lowering credit limits and closing accounts well ...
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