In the Senate of the United States,
May 19, 2009.
Resolved, That the bill from the House of Representa
tives (H.R. 627) entitled "An Act to amend the Truth in
Lending Act to establish fair and transparent practices relat
ing to the extension of credit under an open end consumer
credit plan, and for other purposes.", do pass with the fol
Strike all after the enacting clause and insert the
1 SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) SHORT TITLE.-This Act may be cited as the
3 "Credit Card Accountability Responsibility and Disclosure
4 Act of2009" or the "Credit CARD Act of2009".
(b) TABLE OF CONTENTS.-
The table ~f contents for this Act is as follows:
Sec. 1. Short title; table of contents.
Sec. 2. Regulatory authority.
Sec. 3. Effective date.
TITLE I-CONSUMER PROTECTION
Sec. 101. Protection of credit cardholders.
Sec. 102. Limits on fees and interest charges.
Sec. 103. Use of terms clarified.
Sec. 104. Application of card payments.
Sec. 105. Standards applicable to initial issuance of subprime or "fee harvester"
Sec. 106. Rules regarding periodic statements.
Sec. 107. Enhanced penalties.
Sec. 108. Clerical amendments.
Sec. 109. Consideration ofAbility to repay.
TITLE II-ENHANCED CONSUMER DISCLOSURES
Sec.. 201. PaYoff timing disclosures.
Sec. 202. Requirements relating to late payment deadlines and penalties.
Sec. 203. Renewal disclosures.
Sec. 204. Internet posting of credit card agreements.
Sec. 205. Prevention of deceptive marketing of credit reports.
TITLE III-PROTECTION OF YOUNG CONSUMERS
Sec. 301. Extensions of credit to underage consumers.
Sec. 302. Protection of young consumers from prescreened credit offers.
Sec. 303. Issuance of credit cards to certain college students.
Sec. 304. Privacy Protections for college students.
Sec.· 305. College Credit Card Agreements.
TITLE IV-GIFT CARDS
Sec. 401. General-use prepaid cards, gift certificates, and store gift cards.
Sec. 402. Relation to State laws.
Sec. 403. Effective date.
TITLE V-MISCELLANEOUS PROVISIONS