3.0.0 1799 2023-01-11T13:17:44Z 2023-01-11T13:17:44Z Senate S S 2009-10-19 111 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Hearings by 2009-11-17T23:26:22Z Referred to 2009-10-19T22:33:06Z Overdraft Protection Act of 2009 111 3904 HR 2009-10-22 Referred to the House Committee on Financial Services. Related bill CRS 2009-11-17 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2009-10-19 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S10522-10524) IntroReferral 2009-10-19 Sponsor introductory remarks on measure. (CR S10521-10522) IntroReferral B00100 9 Library of Congress 2009-10-19 Introduced in Senate IntroReferral 10000 9 Library of Congress D000388 Sen. Dodd, Christopher J. [D-CT] CHRISTOPHER DODD D CT JOHN N S000148 Sen. Schumer, Charles E. [D-NY] Charles Schumer D NY E. 2009-10-19 True R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2009-10-19 True B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2009-10-19 True L000261 Sen. Levin, Carl [D-MI] CARL LEVIN D MI MILTON 2009-10-19 True M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2009-10-19 True M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2009-10-19 True R000146 Sen. Reid, Harry [D-NV] HARRY REID D NV M. 2009-10-19 True M001170 Sen. McCaskill, Claire [D-MO] Claire McCaskill D MO 2009-11-30 False F000457 Sen. Franken, Al [D-MN] Al Franken D MN 2009-11-30 False L000123 Sen. Lautenberg, Frank R. [D-NJ] FRANK LAUTENBERG D NJ R. 2010-02-22 False Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Banking and financial institutions regulation Congressional oversight Consumer affairs Consumer credit Federal Reserve System Marketing and advertising Finance and Financial Sector 00 2009-10-19 Introduced in Senate 2009-12-23T22:19:43Z Fairness and Accountability in Receiving Overdraft Coverage Act of 2009 or FAIR Overdraft Coverage Act - Amends the Truth in Lending Act to prohibit a depository institution from engaging in unfair or deceptive acts or practices in connection with overdraft coverage, or in acts designed to evade the provisions of this Act.

Requires each depository institution that provides overdraft coverage for transaction accounts to clearly and conspicuously disclose overdraft coverage fees.

Subjects to the consumer's written, electronic, or other consent overdraft coverage fees for withdrawals from either automated teller machines or from debit card transfers.

Requires a depository institution to provide specified consumer disclosures regarding its overdraft protection program, including: (1) periodic statements for any transaction account that has an overdraft coverage program feature; and (2) prompt notification of the account's overdraft status.

Prescribes overdraft coverage fee limits.

Prohibits an overdraft coverage fee if the overdraft results solely from a debit hold amount that exceeds the actual dollar amount of the transaction.

Requires a depository institution to provide consumers who have not consented to participate in an overdraft coverage program transaction accounts with the same terms as those provided to consumers who have consented to participate in such program.

Prohibits a depository institution from charging a non-sufficient fund fee for any transaction at an automated teller machine or any debit card transaction.

Prohibits a depository institution from reporting negative information regarding consumer use of overdraft coverage to any consumer reporting agency when the overdraft amounts and coverage fees are paid under the terms of an overdraft coverage program.

]]> FAIR Overdraft Coverage Act Display Title FAIR Overdraft Coverage Act Official Title as Introduced A bill to amend the Truth in Lending Act, to establish fair and transparent practices related to the marketing and provision of overdraft coverage programs at depository institutions, and for other purposes. Introduced in Senate IS Short Titles as Introduced FAIR Overdraft Coverage Act Short Titles as Introduced Fairness and Accountability in Receiving Overdraft CoverageAct of 2009 Introduced in Senate 2009-10-19T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111s1799is/xml/BILLS-111s1799is.xml 2009-11-17 Committee on Banking, Housing, and Urban Affairs. Hearings held. 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.