3.0.0 2411 2023-01-11T13:15:27Z 2023-01-11T13:15:27Z Senate S S 2007-12-05 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2007-12-05T19:19:07Z Credit Card Safety Star Act of 2008 110 6978 HR 2008-09-18 Referred to the House Committee on Financial Services. Related bill CRS 2007-12-05 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2007-12-05 Sponsor introductory remarks on measure. (CR S14789-14790) IntroReferral B00100 9 Library of Congress 2007-12-05 Introduced in Senate IntroReferral 10000 9 Library of Congress W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR N O000167 Sen. Obama, Barack [D-IL] Barack Obama D IL 2007-12-05 True Finance and Financial Sector Administrative law and regulatory procedures Advisory bodies Consumer affairs Consumer credit Federal Reserve System Finance and Financial Sector 00 2007-12-05 Introduced in Senate 2008-03-17T18:31:05Z Credit Card Safety Star Act of 2007 - Amends the Truth in Lending Act to direct the Board of Governors of the Federal Reserve System to promulgate rules to implement a Safety Star System, with one to five stars, to allow consumers to compare quickly and easily the terms, conditions, and levels of safety associated with various open end credit plan agreements.

Specifies a point structure for rating credit cards.

Assigns an automatic one-star rating (the lowest level of safety) to any open end credit plan: (1) that allows the card issuer to modify the terms of the agreement with a cardholder at any time or periodically for unspecified or unstated reasons; or (2) under which other accounts, or changes by a third party in the cardholder's credit rating, are used as a basis for adverse changes in the agreement (including universal default).

Establishes the Credit Card Safety Star Advisory Commission.

]]> Credit Card Safety Star Act of 2007 Display Title Credit Card Safety Star Act of 2007 Short Titles as Introduced Credit Card Safety Star Act of 2007 Official Title as Introduced A bill to require the establishment of a credit card safety star rating system for the benefit of consumers, and for other purposes. Introduced in Senate 2007-12-05T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s2411is/xml/BILLS-110s2411is.xml 2007-12-05 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.