TRUTH IN LENDING ACT

Amendments

Credit: provide for enhanced disclosure under an open end credit plan (H.R. 627), S5333, S5338 [11MY], S5349, S5360, S5361, S5362, S5364, S5379, S5380, S5382, S5383, S5384, S5385, S5386, S5387, S5388, S5389, S5393 [12MY], S5416, S5425, S5426, S5444, S5445, S5446, S5447, S5448 [13MY], S5471, S5475, S5531, S5532, S5533, S5534, S5535, S5536, S5537 [14MY], S5625 [19MY], H5004, H5013, H5016, H5018, H5019, H5021, H5022, H5023, H5025, H5026, H5028, H5029, H5031, H5033, H5034, H5035, H5036 [30AP], H5824 [20MY]

———reform and provide accountability for mortgage practices, establish licensing and registration requirements for mortgage originators, and provide certain minimum standards for mortgage loans (H.R. 1728), H5325, H5344, H5350, H5352, H5353, H5354, H5356, H5357, H5358, H5359, H5360, H5361, H5362, H5364, H5369 [7MY]

———reform and provide accountability for mortgage practices, establish licensing and registration requirements for mortgage originators, and provide certain minimum standards for mortgage loans (H.R. 1728), consideration (H. Res. 406), H5315 [7MY]

Credit Card Accountability Responsibility and Disclosure (Credit CARD) Act: establish an earlier effective date for various consumer protections (H.R. 3639), H12311, H12312, H12313, H12314, H12316 [4NO]

———establish an earlier effective date for various consumer protections (H.R. 3639), consideration (H. Res. 884), H12299 [4NO]

Articles and editorials

Credit Card Issuers—Buy Something or Else!, H5032 [30AP]

Over the Limit, H5025 [30AP]

Bills and resolutions

Bankruptcy: provide that claims arising from high cost consumer credit transactions shall be subordinated to all other claims (see S. 257), S598 [15JA]

Consumers: establish additional payday loan disclosure requirements and other protections (see H.R. 1214), H2873 [26FE]

———establish additional payday loan disclosure requirements and preempt certain State laws (see H.R. 1846), H4396 [1AP]

———establish additional protections for consumers with regard to payday loans (see H.R. 2563), H6009 [21MY]

———protect from certain practices in connection with the origination of consumer credit transactions secured by the consumer's principal dwelling (see S. 863), S4573 [22AP] (see H.R. 1782), H4128 [30MR]

Credit: empower States to set the maximum annual percentage rates applicable to consumer credit transactions (see S. 255), S598 [15JA]

———establish a national consumer credit usury rate (see S. 500), S2558 [26FE] (see H.R. 1608), H3703 [19MR]

———permit deferrals on certain home mortgage foreclosures to take remedial action and require home mortgage servicers to provide notice of any upcoming reset of interest rates (see S. 241), S388 [14JA] (see H.R. 527), H324 [14JA]

———prohibit distribution of checks or other negotiable instruments as part of a creditor solicitation to extend credit and limit consumer liability in conjunction with such solicitations (see S. 1595), S8992 [6AU]

———prohibit issuance of residential mortgages to individuals who lack a Social Security account number (see H.R. 1268), H2924 [3MR]

———prohibit prepayment penalties in mortgage contracts (see S. 911), S4806 [28AP] (see H.R. 2794), H6537 [10JN]

———protect consumers from usury (see S. 582), S3073 [12MR] (see H.R. 1640), H3704 [19MR]

———provide for enhanced disclosure under an open end credit plan (see S. 131), S42 [6JA] (see S. 235), S388 [14JA] (see H.R. 627), H484 [22JA]

———provide for enhanced disclosure under an open end credit plan (H.R. 627), consideration (see H. Res. 379), H4998 [29AP]

———provide for enhanced disclosure under an open end credit plan (H.R. 627), consideration of Senate amendment (see H. Res. 456), H5790 [19MY]

———reform and provide accountability for mortgage practices, establish licensing and registration requirements for mortgage originators, and provide certain minimum standards for mortgage loans (see H.R. 1728), H4061 [26MR]

———reform and provide accountability for mortgage practices, establish licensing and registration requirements for mortgage originators, and provide certain minimum standards for mortgage loans (H.R. 1728), consideration (see H. Res. 400), H5167 [5MY] (see H. Res. 406), H5305 [6MY]

———require creditors who transfer, sell, or convey certain residential mortgage loans to third parties to retain an economic interest in a material portion of the credit risk for any such loan (see H.R. 1731), H4061 [26MR]

———require stores offering credit or charge accounts to prominently display certain information (see H.R. 1365), H3054 [5MR]

Credit Card Accountability Responsibility and Disclosure (Credit CARD) Act: establish an earlier effective date for various consumer protections (see S. 1833), S10635 [21OC] (see H.R. 3639), H9961 [24SE]

———establish an earlier effective date for various consumer protections (H.R. 3639), consideration (see H. Res. 884), H12287 [3NO]

———provide earlier effective date (see H.R. 3601), H9729 [17SE]

Credit cards: establish a moratorium on interest rate increases (see S. 1927), S10735 [26OC] (see H.R. 3959), H12044 [28OC]

———establish a national usury rate for consumer accounts under open end consumer credit plans (see H.R. 4300), H14826 [11DE]

———establish limits on certain fees for accounts under open end consumer credit plans (see H.R. 3977), H12141 [29OC]

———prevent unfair practices in accounts (see H.R. 2007), H4580 [21AP]

———prohibit issuers from taking unfair advantage of college students and their parents (see S. 165), S169 [7JA]

———prohibit universal defaults on accounts (see S. 399), S2027 [9FE] (see H.R. 1637), H3704 [19MR]

———provide safeguards for holders whose accounts were, or are about to be, terminated for inactivity (see H.R. 1882), H4519 [2AP]

———require creditors to report terms and conditions of business, marketing, promotional, and college affinity card agreements with institutions of higher education and alumni organizations (see H.R. 2217), H5061 [30AP]

Financial institutions: establish fair and transparent practices related to marketing and provision of overdraft coverage programs at depository institutions (see S. 1799), S10520 [19OC] (see H.R. 3904), H11711 [22OC]

———extend protections to overdraft protection programs, require consent and enhance information on overdraft protection, and prohibit manipulation to generate overdraft protection fees (see H.R. 1456), H3399 [12MR]

———sunset Federal laws and regulations that deny consumers the opportunity to make certain bank account decisions and what type of information they receive from their banks (see H.R. 1419), H3145 [10MR]

Government regulations: clarify that any delay in changes to terms applies only to increases, not decreases (see H.R. 4002), H12287 [3NO]

Small business: provide coverage for credit cards issued to small businesses (see H.R. 3457), H9276 [31JY]

Technical correction (see H.R. 3606), H9730 [17SE]

Technology: prohibit unfair practices in electronic payment system networks (see H.R. 2382), H5580 [13MY]

Cloture motions

Credit: provide for enhanced disclosure under an open end credit plan (H.R. 627), S5426 [13MY], S5570 [19MY]

———provide for enhanced disclosure under an open end credit plan (H.R. 627), motion to proceed, S5246 [6MY]

E-mails

Protect consumers from usury: several Vermont citizens, S4629 [23AP], S4734 [27AP]

Letters

Credit CARD Technical Corrections Act: Dan Mica, Credit Union National Association, H11258 [13OC]

———Deborah Matz, National Credit Union Administration, H11258 [13OC]

———Roshara J. Holub, Missouri Credit Union Association, H11259 [13OC]

FRS authority to specify acceptable forms of identification for opening of credit card accounts: Phyllis Schlafly, Eagle Forum (organization), S5422 [13MY]

Mortgage Reform and Anti-Predatory Lending Act, H5348 [7MY]

———Charles McMillan, National Association of REALTORS, H5186 [6MY]

———Floyd E. Stoner, American Bankers Association, H5318 [7MY]

———John A. Courson and David G. Kittle, Mortgage Bankers Association, H5179 [6MY], H5317 [7MY]

———Representative Conyers, Committee on the Judiciary (House), H5348 [7MY]

———Representative Frank, Committee on Financial Services (House), H5348 [7MY]

Prohibit distribution of checks or other negotiable instruments as part of a creditor solicitation to extend credit and limit consumer liability in conjunction with such solicitations: several consumer organizations, S8979 [6AU]

Protecting Consumers From Unreasonble Credit Rates Act: several organizations, S2572 [26FE]

Memorandums

Credit Cardholders' Bill of Rights Act: Congressional Research Service, H4967 [29AP]

Motions

Credit: provide for enhanced disclosure under an open end credit plan (H.R. 627), S5423, S5424 [13MY], H5039 [30AP], H5832 [20MY]

———reform and provide accountability for mortgage practices, establish licensing and registration requirements for mortgage originators, and provide certain minimum standards for mortgage loans (H.R. 1728), H5369 [7MY]

Credit Card Accountability Responsibility and Disclosure (Credit CARD) Act: establish an earlier effective date for various consumer protections (H.R. 3639), H12320 [4NO]

Remarks in House

Consumers: establish additional payday loan disclosure requirements and other protections (H.R. 1214), E493 [26FE]

Credit: allocate payments in excess of the minimum payment to the portion of the remaining balance with the highest interest rate first, H5021, H5022 [30AP]

———allow customers who have not activated their credit cards within 45 days to cancel the card and have it removed from their credit report entirely, H5037 [30AP]

———clarify that minors are allowed to have credit cards in their names under their parent or legal guardian's account, H5023 [30AP]

———effect of mortgage lenders risk-retention on liquidity of the market, H5349 [7MY]

———guarantee consumers same access to credit scores as lenders, H14675 [10DE]

———limit credit line on college student accounts, require approval for credit increases on co-signed accounts, require credit check to open accounts, and prohibit multiple accounts for certain applicants, H5020, H5021 [30AP]

———prohibit fees for telephone or electronic transfer payments, require warning on adverse effects of excessive credit inquiries, impose readability standards, and establish disclosure requirements, H5017 [30AP]

———prohibit steering of mortgage loans, H5349 [7MY]

———provide for enhanced disclosure under an open end credit plan, H349 [15JA]

———provide for enhanced disclosure under an open end credit plan (H.R. 627), H4847 [28AP], H4960-H4969 [29AP], H5001, H5002, H5013-H5041, H5048-H5052 [30AP], H5782 [19MY], E122 [22JA], E1022, E1024, E1026, E1027, E1030, E1033, E1035, E1038, E1043 [30AP], E1046 [4MY], E1058 [5MY], E1075 [6MY], E1103, E1105 [7MY], E1250, E1262 [21MY]

———provide for enhanced disclosure under an open end credit plan (H.R. 627), consideration (H. Res. 379), H5003-H5013 [30AP]

———provide for enhanced disclosure under an open end credit plan (H.R. 627), consideration of Senate amendment (H. Res. 456), H5808-H5815 [20MY]

———provide for enhanced disclosure under an open end credit plan (H.R. 627), corrections in engrossment, H5043 [30AP]

———provide for enhanced disclosure under an open end credit plan (H.R. 627), Senate amendment, H5806, H5823-H5841 [20MY]

———provide that the amount of a balance as of a 7-day mark following a notice of a rate increase would be protected from the rate increase, H5029 [30AP]

———reform and provide accountability for mortgage practices, establish licensing and registration requirements for mortgage originators, and provide certain minimum standards for mortgage loans (H.R. 1728), H5069 [4MY], H5101, H5103, H5104, H5105, H5106, H5138-H5145 [5MY], H5171, H5173, H5179-H5188, H5266 [6MY], H5312, H5325-H5371 [7MY], H5562-H5568 [13MY], E1083, E1085, E1086, E1087, E1106 [7MY], E1129 [12MY], E1131 [13MY]

———reform and provide accountability for mortgage practices, establish licensing and registration requirements for mortgage originators, and provide certain minimum standards for mortgage loans (H.R. 1728), consideration (H. Res. 400), H5174-H5179 [6MY]

———reform and provide accountability for mortgage practices, establish licensing and registration requirements for mortgage originators, and provide certain minimum standards for mortgage loans (H.R. 1728), consideration (H. Res. 406), H5313-H5324 [7MY]

———reform and provide accountability for mortgage practices, establish licensing and registration requirements for mortgage originators, and provide certain minimum standards for mortgage loans (H.R. 1728), corrections in engrossment, H5371 [7MY]

———reform and provide accountability for mortgage practices, establish licensing and registration requirements for mortgage originators, and provide certain minimum standards for mortgage loans (H.R. 1728), motion to recommit, H5369 [7MY]

———require creditors to post their credit card written agreements on their websites, and require the Federal Reserve Board to compile and report these agreements on its website, H5034, H5035 [30AP]

———require GAO study to ensure that enhanced disclosure under an open end credit plan would not restrict access to credit or increase cost of credit for small businesses, H5011, H5012 [30AP]

———require issuers to notify cardholders 30 days before account closure with the closure reason, staying-open options, balance repayment program, and credit score impact, H5031-H5033 [30AP]

———require minimum 6-month period for a promotional rate for credit cards before the standard rate may be increased, H5033, H5034 [30AP]

———require mortgage originators to present the costs and benefits of each mortgage option in a simple chart and the disclosure be made in writing and signed by the mortgage originator and consumer, H5361, H5362 [7MY]

Credit Card Accountability Responsibility and Disclosure (Credit CARD) Act: establish an earlier effective date for various consumer protections (H.R. 3639), H12302-H12323 [4NO], E2723 [5NO]

———establish an earlier effective date for various consumer protections (H.R. 3639), consideration (H. Res. 884), H12294-H12301 [4NO]

———establish an earlier effective date for various consumer protections (H.R. 3639), motion to recommit, H12321 [4NO]

———establish an immediate effective date for various consumer protections, H12313, H12314 [4NO]

———freeze interest rate increases on existing credit card balances until effective date for various consumer protections, H12316, H12317 [4NO]

———FRS certification of feasibility of implementation of necessary regulations by an earlier effective date, H12321 [4NO]

Credit cards: provide safeguards for holders whose accounts were, or are about to be, terminated for inactivity (H.R. 1882), E876 [2AP]

———require creditors to report terms and conditions of business, marketing, promotional, and college affinity card agreements with institutions of higher education and alumni organizations (H.R. 2217), E1035 [30AP]

Dept. of HUD: coordinate efforts to produce compatible and improved residential mortgage disclosures, H5763 [19MY]

———give priority consideration in grant funding to mortgage counseling agencies serving areas with high foreclosure rates, H5358, H5359 [7MY]

———include explanation of benefits of mortgage balance pre-payment in consumer education guides, H5360 [7MY]

Financial institutions: establish fair and transparent practices related to marketing and provision of overdraft coverage programs at depository institutions (H.R. 3904), E2794 [18NO]

———extend protections to overdraft protection programs, require consent and enhance information on overdraft protection, and prohibit manipulation to generate overdraft protection fees (H.R. 1456), E663 [12MR]

———sunset Federal laws and regulations that deny consumers the opportunity to make certain bank account decisions and what type of information they receive from their banks (H.R. 1419), E622 [10MR]

FRS: conduct review of consumer credit plans and regulations, H5018, H5019 [30AP]

———determine that regulations for enhanced disclosure under an open end credit plan will not result in reduction in availability of credit to small businesses, H5039, H5040 [30AP]

———submit reports on implementation of regulations requiring enhanced disclosure under an open end credit plan, H5022 [30AP]

GAO: expand study of certain mortgage regulations to include effect on consumer and small business credit availability and affordability, H5360, H5361 [7MY]

Housing: reduce eviction grace period for renters of certain properties in foreclosure and clarify circumstances of acceleration of debt repayment, H5353, H5354 [7MY]

Mortgage Reform and Anti-Predatory Lending Act: require the FRS to certify provisions of such Act would not reduce availability or increase the price of credit for qualified mortgages, H5357, H5358 [7MY]

———strike certain provisions relating to high-cost mortgages, H5359 [7MY]

Mortgages: require income verification by lenders utilizing IRS tax transcripts, H5356 [7MY]

———strike assignee and securitizer liability provisions, H5354-H5356 [7MY]

Real estate: establish requirements for providing negatively amortizing mortgage loans to first-time borrowers, H5184 [6MY]

Technical correction (H.R. 3606), H11257-H11259 [13OC]

Remarks in Senate

Consumers: protect from certain practices in connection with the origination of consumer credit transactions secured by the consumer's principal dwelling (S. 863), S5182 [6MY]

Credit: allocate payments in excess of the minimum payment to the portion of the remaining balance with the highest interest rate first, S5493 [14MY]

———allow merchants to offer a discount over credit cards for individuals paying with cash, check, or debit card, S5464, S5467 [14MY]

———establish a national consumer credit usury rate, S4796-S4799 [28AP]

———establish a national consumer credit usury rate (S. 500), S2570 [26FE]

———make credit scores available to consumers once each year free of charge and allow consumers to see the credit score, S5491 [14MY]

———prohibit distribution of checks or other negotiable instruments as part of a creditor solicitation to extend credit and limit consumer liability in conjunction with such solicitations (S. 1595), S9004 [6AU]

———prohibit prepayment penalties in mortgage contracts, S4950, S4951 [30AP]

———prohibit prepayment penalties in mortgage contracts (S. 911), S4812 [28AP]

———protect consumers from usury, S4629 [23AP], S4733 [27AP], S5363 [12MY], S5415, S5423, S5424 [13MY], S5470 [14MY], S5568 [19MY]

———protect consumers from usury (S. 582), S3076 [12MR], S4542 [22AP], S5119 [5MY], S9650 [22SE], S11032 [3NO]

———provide for enhanced disclosure under an open end credit plan (H.R. 627), S5304, S5313-S5321 [11MY], S5346-S5365 [12MY], S5409-S5412, S5415-S5418, S5420-S5429 [13MY], S5463, S5464, S5466-S5472, S5474-S5476, S5480, S5483, S5484, S5487-S5494, S5496 [14MY], S5548-S5551 [18MY], S5566-S5581, S5600-S5602 [19MY], S5805 [21MY], S6178-S6180 [4JN]

———provide for enhanced disclosure under an open end credit plan (H.R. 627), motion to proceed, S5246 [6MY]

———provide for enhanced disclosure under an open end credit plan (H.R. 627), unanimous-consent agreement, S5270 [7MY], S5353 [12MY]

———provide for enhanced disclosure under an open end credit plan (S. 131), S101 [6JA]

———provide for enhanced disclosure under an open end credit plan (S. 235), S389 [14JA]

———restore State power to enforce maximum interest rates against out-of-State lenders, S5487, S5488 [14MY]

———specify acceptable forms of identification for opening of credit card accounts, S5361 [12MY], S5421-S5423 [13MY]

Credit Card Accountability Responsibility and Disclosure (Credit CARD) Act: establish an earlier effective date for various consumer protections (S. 1833), S10730 [26OC]

Credit cards: establish a moratorium on interest rate increases (S. 1927), S10730, S10737, S10742 [26OC], S10743 [27OC], S11471, S11472 [18NO]

———prohibit issuers from taking unfair advantage of college students and their parents (S. 165), S174 [7JA]

———require creditors to report terms and conditions of business, marketing, promotional, and college affinity card agreements with institutions of higher education and alumni organizations, S5492 [14MY]

Fair Credit Reporting Act: require reporting agencies to provide free credit reports in certain languages other than English, S5364 [12MY]

Financial institutions: establish fair and transparent practices related to marketing and provision of overdraft coverage programs at depository institutions (S. 1799), S10521 [19OC]

Small business: ensure that regulations for enhanced disclosure under an open end credit plan will not result in reduction in availability of credit to small businesses, S5463 [14MY]

———extend credit card protections, S5425 [13MY], S5471, S5488-S5491 [14MY]

Technical correction (H.R. 3606), S10943 [29OC]

Reports filed

Consideration of H.R. 627, Credit Cardholders' Bill of Rights Act: Committee on Rules (House) (H. Res. 379) (H. Rept. 111-92), H4998 [29AP]

Consideration of H.R. 1728, Mortgage Reform and Anti-Predatory Lending Act: Committee on Rules (House) (H. Res. 400) (H. Rept. 111-96), H5167 [5MY]

———Committee on Rules (House) (H. Res. 406) (H. Rept. 111-98), H5305 [6MY]

Consideration of H.R. 3639, Expedited CARD Reform for Consumers Act: Committee on Rules (House) (H. Res. 884) (H. Rept. 111-326), H12287 [3NO]

Consideration of Senate Amendment to H.R. 627, Credit Cardholders' Bill of Rights Act: Committee on Rules (House) (H. Res. 456) (H. Rept. 111-120), H5790 [19MY]

Credit Cardholders' Bill of Rights Act: Committee on Financial Services (House) (H.R. 627) (H. Rept. 111-88), H4838 [27AP]

Expedited CARD Reform for Consumers Act: Committee on Financial Services (House) (H.R. 3639) (H. Rept. 111-314), H11790 [26OC]

Mortgage Reform and Anti-Predatory Lending Act: Committee on Financial Services (House) (H.R. 1728) (H. Rept. 111-94), H5095 [4MY]

Tables

Comparison of sample mortgage features, H5361 [7MY]

Texts of

H. Res. 379, consideration of H.R. 627, Credit Cardholders' Bill of Rights Act, H5003 [30AP]

H. Res. 400, consideration of H.R. 1728, Mortgage Reform and Anti-Predatory Lending Act, H5174 [6MY]

H. Res. 406, consideration of H.R. 1728, Mortgage Reform and Anti-Predatory Lending Act, H5313 [7MY]

H. Res. 456, consideration of Senate amendment to H.R. 627, Credit Card Accountability Responsibility and Disclosure (Credit CARD) Act, H5808 [20MY]

H. Res. 884, consideration of H.R. 3639, Expedited CARD Reform for Consumers Act, H12294 [4NO]

H.R. 627, Credit Card Accountability Responsibility and Disclosure (Credit CARD) Act, S5573-S5581 [19MY], H5824-H5832 [20MY]

H.R. 627, Credit Cardholders' Bill of Rights Act, H5013-H5016 [30AP]

H.R. 1728, Mortgage Reform and Anti-Predatory Lending Act, H5325-H5343 [7MY]

H.R. 3606, Credit CARD Technical Corrections Act, H11257 [13OC]

H.R. 3639, Expedited CARD Reform for Consumers Act, H12311 [4NO]

S. 131, Credit Card Minimum Payment Notification Act, S103 [6JA]

S. 500, Protecting Consumers From Unreasonble Credit Rates Act, S2571 [26FE]

S. 1799, Fairness and Accountability in Receiving (FAIR) Overdraft Coverage Act, S10522-S10524 [19OC]

S. 1927, Credit Card Rate Freeze Act, S10737 [26OC]