U.S. Congress - H.R.1081 Consumers Payment System Protection Act
H.R.1081 - Consumers Payment System Protection Act
To delay the implementation of proposed or final rules issued under the authority of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to the reasonable and proportional fees and rules for electronic debit transactions, and for other purposes. view all titles (2)
All Bill Titles
- Official: To delay the implementation of proposed or final rules issued under the authority of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to the reasonable and proportional fees and rules for electronic debit transactions, and for other purposes. as introduced.
- Short: Consumers Payment System Protection 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: 4
- Past Seven Days: 29
- All-Time: 4,148
|
|
|
|
|
|
|
|
Official Summary
3/15/2011--Introduced.Consumers Payment System Protection Act - Delays until one year after enactment of this Act any proposed or final rule issued under the authority of specified requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act governing interchange transactiOfficial Summary
3/15/2011--Introduced.Consumers Payment System Protection Act - Delays until one year after enactment of this Act any proposed or final rule issued under the authority of specified requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act governing interchange transaction (swipe) fees for electronic debit transactions (EDTs). Requires the Board of Governors of the Federal Reserve System and specified federal banking agencies jointly to study and report to Congress on the effect of such requirements upon consumers, card issuers, merchants, and financial institutions. Sets a deadline for the Board to make revisions to any proposed or final rule regarding such EDTs if at least two of the agencies contributing to such report determine that any one of the following is true:(1) either such requirements or the Board's proposed rule entitled "Debit Card Interchange Fees and Routing" does not encompass all costs and investments associated with debit card transactions;
(2) consumers will be adversely affected by either the requirements or the proposed rule; or
(3) the current exemption of small financial institutions (with less than $10 billion in assets) from such requirements, or as carried out by the proposed rule, is not effective in practice.
...Read the Rest
Organizations Supporting H.R.1081
- 60 Plus Association
- American Bankers Association
- Center for Individual Freedom
- Christian Coalition of America
- Citizen Outreach
- CNP Action, Inc.
- ...and 15 more. See all.
Organizations Opposing H.R.1081
- National Assocation of College Stores
- National Retail Federation
See the money trail behind this bill for more info on how campaign contributions may be influencing senators' and representatives' votes.
Vote on This Bill
-
Share This Bill
More Share via Email
