3.0.0 6248 2019-11-15T20:55:42Z 2019-11-15T20:55:42Z House H HR 2008-06-11 110 hsba00 Financial Services Committee House Standing Referred to 2008-06-11T14:05:35Z 2008-06-11 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2008-06-11 Introduced in House IntroReferral Intro-H 9 Library of Congress 2008-06-11 Introduced in House IntroReferral 1000 9 Library of Congress W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT N E000288 Rep. Ellison, Keith [D-MN-5] Keith Ellison D MN 5 2008-06-11 True B001259 Rep. Braley, Bruce L. [D-IA-1] Bruce Braley D IA L. 1 2008-06-11 True D000096 Rep. Davis, Danny K. [D-IL-7] DANNY DAVIS D IL K. 7 2008-07-14 False Finance and Financial Sector Administrative procedure Commerce Consumer protection Contracts Credit cards Debit cards Electronic funds transfers Federal Trade Commission Fees Government Operations and Politics Government paperwork Government publicity Independent regulatory commissions Law Restrictive trade practices Science, Technology, Communications Finance and Financial Sector 00 2008-06-11 Introduced in House 2008-09-03T19:54:22Z Credit Card Interchange Fees Act of 2008 - Amends the Truth in Lending Act to prohibit specified electronic payment system network practices, including the imposition of: (1) additional charges on merchants and consumers for premium payment cards; (2) certain restrictions on merchants, including chargebacks for transactions on point of sale terminals that exceed the allowable amount on such devices; (3) restrictions upon network routing; and (4) fees for failure of the merchant to provide a particular number of transactions.

Requires an electronic payment system network to disclose its contract terms to the merchant, including its complete operating rules, without restricting the merchant's use of such information.

Directs the Federal Trade Commission (FTC) to prescribe regulations to: (1) ensure that the rules, terms, and conditions to which a merchant or consumer is subject under an agreement with an electronic payment system network are neither unfair nor deceptive to consumers and merchants, nor anticompetitive; (2) prohibit any unfair or deceptive act or practice or anticompetitive act or practice that may result from such rule, term, or condition; and (3) regularly review such rules, terms, and conditions.

Directs the Board of Governors of the Federal Reserve System to collect and disseminate to the public: (1) complete information on fees charged by each electronic payment system network in connection with consumer-initiated transactions; and (2) the rules, terms, and conditions to which a merchant or a consumer is subject under an agreement with an electronic payment system network for transactions using payment cards.

]]> Credit Card Interchange Fees Act of 2008 Short Titles as Introduced Credit Card Interchange Fees Act of 2008 Display Title Credit Card Interchange Fees Act of 2008 Official Title as Introduced To amend the Truth in Lending Act to prohibit unfair practices in electronic payment system networks, and for other purposes. Introduced in House 2008-06-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr6248ih/xml/BILLS-110hr6248ih.xml 2008-06-11 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.