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Legislation Details

'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. '

: 111
State: Federal
Chamber: House
Bill Number: H.R. 3639
Sponsor: Rep. Carolyn Maloney (D-NY)
Last Sponsor Date: Oct. 26, 2009

Official Title as Introduced: '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. '

10/26/2009--Reported to House amended. (There is 1 other summary) 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, except for certain depository institutions, from February 20, 2010, to December 1, 2009. Makes February 22, 2010, the effective date of the Act for a depository institution with fewer than two million credit cards in circulation on the date of the enactment of this Act. 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. But makes February 22, 2010, the rules deadline, and August 22, 2010, the effective date of the creditor review requirement itself, with respect to a depository institution with fewer than two million credit cards in circulation on the date of the enactment of this Act. Moves up to December 1, 2009, as well: (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. But makes February 22, 2010, the rules deadline, and August 22, 2010, the effective date of the reasonable and proportional requirement itself, with respect to a depository institution with fewer than two million credit cards in circulation on the date of the enactment of this Act.

Sponsor/Co-sponsor(s) 39
Oct. 21, 2009	Rep. James Langevin (D-RI)
Sep. 25, 2009	Rep. Paul Kanjorski (D-PA)
Oct. 26, 2009	Rep. Patrick Murphy (D-PA)
Oct. 08, 2009	Rep. Marcia Fudge (D-OH)
Sep. 24, 2009	Rep. Betty Sutton (D-OH)
Oct. 22, 2009	Rep. Mary Jo Kilroy (D-OH)
Sep. 24, 2009	Rep. Carolyn Maloney (D-NY)
Sep. 25, 2009	Rep. Nita Lowey (D-NY)
Oct. 15, 2009	Rep. John Hall (D-NY)
Oct. 07, 2009	Rep. Dan Maffei (D-NY)
Oct. 07, 2009	Rep. Gary Ackerman (D-NY)
Oct. 26, 2009	Rep. Jerrold Nadler (D-NY)
Oct. 08, 2009	Rep. Dina Titus (D-NV)
Oct. 26, 2009	Rep. Steven Rothman (D-NJ)
Oct. 15, 2009	Rep. Paul Hodes (D-NH)
Oct. 15, 2009	Rep. Larry Kissell (D-NC)
Oct. 07, 2009	Rep. Keith Ellison (D-MN)
Sep. 24, 2009	Rep. Sander Levin (D-MI)
Oct. 07, 2009	Rep. Chellie Pingree (D-ME)
Oct. 07, 2009	Rep. Elijah Cummings (D-MD)
Oct. 21, 2009	Rep. John Olver (D-MA)
Oct. 21, 2009	Rep. James McGovern (D-MA)
Sep. 24, 2009	Rep. Barney Frank (D-MA)
Sep. 24, 2009	Rep. John Tierney (D-MA)
Oct. 26, 2009	Rep. Edward Markey (D-MA)
Sep. 24, 2009	Rep. Michael Capuano (D-MA)
Sep. 24, 2009	Rep. Janice Schakowsky (D-IL)
Sep. 24, 2009	Rep. Mazie Hirono (D-HI)
Oct. 26, 2009	Rep. Kendrick Meek (D-FL)
Oct. 07, 2009	Rep. Betsy Markey (D-CO)
Oct. 15, 2009	Rep. Zoe Lofgren (D-CA)
Oct. 15, 2009	Rep. Brad Sherman (D-CA)
Oct. 21, 2009	Rep. Henry Waxman (D-CA)
Oct. 21, 2009	Rep. Judy Chu (D-CA)
Oct. 15, 2009	Rep. Joe Baca (D-CA)
Oct. 21, 2009	Rep. Doris Matsui (D-CA)
Sep. 25, 2009	Rep. George Miller (D-CA)
Oct. 07, 2009	Rep. Barbara Lee (D-CA)
Oct. 21, 2009	Rep. Raul Grijalva (D-AZ)

Sep. 24, 2009	Referred to the House Committee on Financial Services.
Oct. 08, 2009	Committee Hearings Held.
Oct. 22, 2009	Committee Consideration and Mark-up Session Held.
Oct. 22, 2009	Ordered to be Reported by Voice Vote.
Oct. 26, 2009	Placed on the Union Calendar, Calendar No. 180.
Oct. 26, 2009	Reported (Amended) by the Committee on Financial Services. H. Rept. 111-314.
Nov. 03, 2009	Rules Committee Resolution H. Res. 884 Reported to House. Rule provides for consideration of H.R. 3639 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. The rule waives all points of order against consideration of the bill except clauses 9 and 10 of rule XXI. The rule provides that the amendment in the nature of a su
Nov. 04, 2009	Rule H. Res. 884 passed House.
Nov. 04, 2009	Considered under the provisions of rule H. Res. 884.
Nov. 04, 2009	Rule provides for consideration of H.R. 3639 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. The rule waives all points of order against consideration of the bill except clauses 9 and 10 of rule XXI. The rule provides that the amendment in the nature of a substitute recommended by the Committee on Financial Service
Nov. 04, 2009	GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 3639.
Nov. 04, 2009	The Speaker designated the Honorable Ed Pastor to act as Chairman of the Committee.
Nov. 04, 2009	House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 884 and Rule XVIII.
Nov. 04, 2009	DEBATE - Pursuant to the provisions of H.Res. 884, the Committee of the Whole proceeded with 10 minutes of debate on the Hensarling amendment.
Nov. 04, 2009	H.AMDT.494 Amendment (A001) offered by Mr. Hensarling. An amendment numbered 1 printed in Part B of House Report 111-326 to clarify that changes to a credit card agreement that reduce a customer's interest rate or other fees can be implemented immediately, instead of being subject to the 45-day waiting period required under the CARD Act of 2009.
Nov. 04, 2009	POSTPONED PROCEEDINGS - At the conclusion of debate on the Hensarling amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Frank (MA) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
Nov. 04, 2009	DEBATE - Pursuant to the provisions of H.Res. 884, the Committee of the Whole proceeded with 10 minutes of debate on the McCarthy (NY) amendment.
Nov. 04, 2009	H.AMDT.495 Amendment (A002) offered by Mrs. McCarthy (NY). An amendment numbered 2 printed in Part B of House Report 111-326 to provide that any card issuer that imposes a moratorium on increases in rates, fees and terms and conditions of a contract would be exempt from the accelerated date for the provision requiring an issuer to apply a customer's payment in excess of the minimum amount due, to the highest rate balance.
Nov. 04, 2009	POSTPONED PROCEEDINGS - At the conclusion of debate on the McCarthy (NY) amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mrs. McCarthy (NY) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
Nov. 04, 2009	DEBATE - Pursuant to the provisions of H.Res. 884, the Committee of the Whole proceeded with 10 minutes of debate on the Maffei amendment.
Nov. 04, 2009	H.AMDT.496 Amendment (A003) offered by Mr. Maffei. An amendment numbered 3 printed in Part B of House Report 111-326 to set the effective date of certain provisions of the CARD Act of 2009 to the enactment date of this Act.
Nov. 04, 2009	POSTPONED PROCEEDINGS - At the conclusion of debate on the Maffei amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Maffei demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
Nov. 04, 2009	DEBATE - Pursuant to the provisions of H.Res. 884, the Committee of the Whole proceeded with 10 minutes of debate on the Sutton amendment number 4.
Nov. 04, 2009	H.AMDT.497 Amendment (A004) offered by Ms. Sutton. An amendment numbered 4 printed in Part B of House Report 111-326 to prevent the closure of a credit card account in response to the imposition of a new fee from negatively impacting a consumer's credit report or credit score.
Nov. 04, 2009	DEBATE - Pursuant to the provisions of H.Res. 884, the Committee of the Whole proceeded with 10 minutes of debate on the Sutton amendment number 5.
Nov. 04, 2009	H.AMDT.498 Amendment (A005) offered by Ms. Sutton. An amendment numbered 5 printed in Part B of House Report 111-326 to impose a moratorium on increasing annual percentage rates, fees and finance charges, as well as a moratorium on changing the terms for repayment of outstanding balances on credit card accounts, for nine months after enactment of this Act.
Nov. 04, 2009	POSTPONED PROCEEDINGS - At the conclusion of debate on the Sutton amendment number 4, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Ms. Sutton demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
Nov. 04, 2009	POSTPONED PROCEEDINGS - At the conclusion of debate on the Sutton amendment number 5, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Ms. Sutton demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
Nov. 04, 2009	H.AMDT.494 On agreeing to the Hensarling amendment (A001) Agreed to by recorded vote: 427 - 0 (Roll no. 845).
Nov. 04, 2009	H.AMDT.495 On agreeing to the McCarthy (NY) amendment (A002) Agreed to by recorded vote: 427 - 0 (Roll no. 846).
Nov. 04, 2009	H.AMDT.496 On agreeing to the Maffei amendment (A003) Agreed to by recorded vote: 251 - 174 (Roll no. 847).
Nov. 04, 2009	H.AMDT.497 On agreeing to the Sutton amendment (A004) Agreed to by recorded vote: 353 - 71 (Roll no. 848).
Nov. 04, 2009	H.AMDT.498 On agreeing to the Sutton amendment (A005) Agreed to by recorded vote: 249 - 173 (Roll no. 849).
Nov. 04, 2009	The House rose from the Committee of the Whole House on the state of the Union to report H.R. 3639.
Nov. 04, 2009	The House adopted the amendment as agreed to by the Committee of the Whole House on the state of the Union.
Nov. 04, 2009	Mr. Castle moved to recommit with instructions to Financial Services.
Nov. 04, 2009	DEBATE - The House proceeded with 10 minutes of debate on the Castle motion to recommit with instructions. The instructions contained in the motion seek to require that the bill be reported back to the House with an amendment to require the Federal Reserve System to submit a report to Congress certifying whether or not the implementation of necessary regulations under those provisions affected by the amendments made by section 2 and section 3 of H.R. 3639 is feasible by December 1, 2009. The ame
Nov. 04, 2009	The previous question on the motion to recommit with instructions was ordered without objection.
Nov. 04, 2009	On motion to recommit with instructions Failed by recorded vote: 171 - 253 (Roll no. 850).
Nov. 04, 2009	Motion to reconsider laid on the table Agreed to without objection.
Nov. 04, 2009	On passage Passed by recorded vote: 331 - 92 (Roll no. 851).
Nov. 05, 2009	Received in the Senate.