[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6620 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 6620

     To amend the Truth in Lending Act to limit the amount of the 
  interchange fee imposed on the sale of motor vehicle fuel, and for 
                            other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 24, 2008

  Mr. Lynch introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
     To amend the Truth in Lending Act to limit the amount of the 
  interchange fee imposed on the sale of motor vehicle fuel, and for 
                            other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Gas Pump Fair Payment Act of 2008''.

SEC. 2. LIMIT IMPOSED.

    (a) In General.--Chapter 2 of the Truth in Lending Act (15 U.S.C. 
1631 et seq.) is amended by inserting after section 127A the following 
new section:
``Sec. 127B. Limit on certain interchange fees.
    ``(a) Definitions.--For purposes of this section, the following 
definitions shall apply:
            ``(1) Charge card.--The term charge card has the same 
        meaning as in section 127(c)(4)(E).
            ``(2) Debit card.--The term `debit card' means any card or 
        other device issued by a financial institution (as defined in 
        section 903(8)) to a consumer for use in initiating electronic 
        fund transfers (as defined in section 903(6)) from the account 
        of the consumer at such financial institution for the purpose 
        of transferring money between accounts or obtaining money, 
        property, labor, or services.
            ``(3) Electronic payment system network.--The term 
        `electronic payment system network' means a network that 
        provides, through licensed members, processors, or agents--
                    ``(A) for the issuance of payment cards (by credit 
                card issuers in the case of a credit card, charge card 
                issuers in the case of a charge card, or financial 
                institutions (as defined in section 903(8)) in the case 
                of debit cards) bearing any logo of the network;
                    ``(B) the proprietary services and infrastructure 
                that route information and data to facilitate 
                transaction authorization, clearance, and settlement 
                that merchants must access in order to accept payment 
                cards bearing any logo of the network as payment for 
                goods and services; and
                    ``(C) for the screening and acceptance of merchants 
                into the network in order to allow such merchants to 
                accept payment cards bearing any logo of the network as 
                payment for goods and services.
            ``(4) Licensed member.--The term `licenced member', in 
        connection with any electronic payment system network, 
        includes--
                    ``(A) any creditor or charge card issuer that is 
                authorized to issue credit cards or charge cards 
                bearing any logo of the network;
                    ``(B) any financial institution (as defined in 
                section 903(8)) that is authorized to issue debit cards 
                to consumers who maintain accounts at such institution; 
                and
                    ``(C) any person, including any financial 
                institution, on occasion referred to as an `acquirer' 
                that is authorized--
                            ``(i) to screen and accept merchants into 
                        any program under which any payment card 
                        bearing any logo of such network may be 
                        accepted by the merchant for payment for goods 
                        or services;
                            ``(ii) to process transactions on behalf of 
                        any such merchant for payment; and
                            ``(iii) to complete financial settlement of 
                        any such transaction on behalf of such 
                        merchant.
            ``(5) Merchant.--The term `merchant' means any person in 
        the business of selling or providing any good or service for 
        consideration.
            ``(6) Payment card.--The term `payment card' means a credit 
        card , a charge card, or a debit card.
    ``(b) Excess Charges Prohibited in Sales of Motor Vehicle Fuel.--An 
electronic payment system network may not, directly or through any 
agent, processor, or licensed member of the network, require or permit 
any merchant to pay any interchange, processing, or other fee in 
connection with any payment card transaction involving the purchase by 
a consumer of any motor vehicle fuel in any amount in excess of the 
amount that is equal to 1 percent of the cost of each gallon of such 
fuel.
    ``(c) Enforcement.--Subsections (a), (b), and (h) of section 130 
shall be applied for purposes of this section by substituting the term 
`an electronic payment system network, or any agent, processor, or 
licensed member of any such network' for `creditor' each place such 
term appears in such subsections.
    ``(d) Sunset.--This section shall not apply to the sale of any 
motor vehicle fuel after the end of the 6-month period beginning on the 
date of the enactment of the Gas Pump Fair Payment Act of 2008.''.
    (b) Clerical Amendment.--The table of sections for chapter 2 of the 
Truth in Lending Act is amended by inserting after the item relating to 
section 127A the following new item:

``127B. Limit on certain interchange fees.''.
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