[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3639 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 3639

 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.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 24, 2009

Mrs. Maloney (for herself, Mr. Frank of Massachusetts, Ms. Schakowsky, 
   Ms. Sutton, Mr. Capuano, Ms. Hirono, Mr. Tierney, and Mr. Levin) 
 introduced the following bill; which was referred to the Committee on 
                           Financial Services

_______________________________________________________________________

                                 A BILL


 
 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.

    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 ``Expedited CARD Reform for Consumers 
Act of 2009''.

SEC. 2. EARLIER EFFECTIVE DATE FOR THE CREDIT CARD ACT OF 2009, 
              GENERALLY.

    Section 3 of the Credit Card Accountability Responsibility and 
Disclosure Act of 2009 is amended by striking ``become effective 9 
months after the date of enactment of this Act,'' and inserting ``take 
effect on December 1, 2009,''.

SEC. 3. EARLIER EFFECTIVE DATES FOR SPECIFIC PROVISIONS TO PREVENT 
              FURTHER ABUSES.

    (a) Review of Past Consumer Interest Rate Increases.--Section 
148(d) of the Truth in Lending Act (15 U.S.C. 1665c(d)) (as added by 
section 101(c) of the Credit Card Accountability Responsibility and 
Disclosure Act of 2009) is amended--
            (1) by striking ``9 months after the date of enactment of 
        this section,'' and inserting ``December 1, 2009,''; and
            (2) by striking ``become effective 15 months after that 
        date of enactment'' and inserting ``take effect on December 1, 
        2009''.
    (b) Requirement That Penalty Fees Be Reasonable and Proportional to 
the Violation.--Section 149(b) of the Truth in Lending Act (15 U.S.C. 
1665d(b)) (as added by section 102(b) of the Credit Card Accountability 
Responsibility and Disclosure Act of 2009) is amended--
            (1) by striking ``9 months after the date of enactment of 
        this section'' and inserting ``December 1, 2009,''; and
            (2) by striking ``become effective 15 months after that 
        date of enactment'' and inserting ``take effect on December 1, 
        2009''.
    (c) Gift Card Protections for Consumers.--
            (1) In general.--Section 403 of the Credit Card 
        Accountability Responsibility and Disclosure Act of 2009 is 
        amended by striking ``become effective 15 months after the date 
        of enactment of this Act,'' and inserting ``take effect on 
        December 1, 2009,''.
            (2) Regulations.--Section 915(d)(3) of the Electronic Fund 
        Transfer Act (15 U.S.C. 1693l-1(d)(3)) (as added by section 
        401(2) of the Credit Card Accountability Responsibility and 
        Disclosure Act of 2009) is amended by striking ``9 months after 
        the date of enactment of the Credit CARD Act of 2009'' and 
        inserting ``December 1, 2009''.
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