HR 5502 111th Congress

To amend the effective date of the gift card provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009.

Latest Action

Became Public Law No: 111-209.

Congress.gov

Sponsors

Rep. Maffei, Daniel B. [D-NY-25]

Rep. Maffei, Daniel B. [D-NY-25]

D — NY

Summary

(This measure has not been amended since it was introduced. The summary of that version is repeated here.) Amends the Credit Card Accountability Responsibility and Disclosure Act of 2009 to state that, in the case of a gift certificate, store gift card, or general-use prepaid card produced before April 1, 2010, the effective date of certain disclosure requirements under the Electronic Funds Transfer Act pertaining to fees shall be delayed until January 31, 2011. Requires the issuer of such a certificate or card, as a condition of such delayed effective date, to: (1) comply with a specified prohibition against and certain requirements for the imposition of any dormancy, inactivity, or service fees; (2) consider any such certificate or card for which funds expire to have no expiration date with respect to the underlying funds; (3) replace, at consumer request, any such certificate or card that has funds remaining at no cost to the consumer; and (4) comply with certain consumer rights disclosure requirements.
(This measure has not been amended since it was introduced. The summary of that version is repeated here.) Amends the Credit Card Accountability Responsibility and Disclosure Act of 2009 to state that, in the case of a gift certificate, store gift card, or general-use prepaid card produced before April 1, 2010, the effective date of certain disclosure requirements under the Electronic Funds Transfer Act pertaining to fees shall be delayed until January 31, 2011. Requires the issuer of such a certificate or card, as a condition of such delayed effective date, to: (1) comply with a specified prohibition against and certain requirements for the imposition of any dormancy, inactivity, or service fees; (2) consider any such certificate or card for which funds expire to have no expiration date with respect to the underlying funds; (3) replace, at consumer request, any such certificate or card that has funds remaining at no cost to the consumer; and (4) comply with certain consumer rights disclosure requirements.
(This measure has not been amended since it was introduced. The summary of that version is repeated here.) Amends the Credit Card Accountability Responsibility and Disclosure Act of 2009 to state that, in the case of a gift certificate, store gift card, or general-use prepaid card produced before April 1, 2010, the effective date of certain disclosure requirements under the Electronic Funds Transfer Act pertaining to fees shall be delayed until January 31, 2011. Requires the issuer of such a certificate or card, as a condition of such delayed effective date, to: (1) comply with a specified prohibition against and certain requirements for the imposition of any dormancy, inactivity, or service fees; (2) consider any such certificate or card for which funds expire to have no expiration date with respect to the underlying funds; (3) replace, at consumer request, any such certificate or card that has funds remaining at no cost to the consumer; and (4) comply with certain consumer rights disclosure requirements.
Amends the Credit Card Accountability Responsibility and Disclosure Act of 2009 to state that, in the case of a gift certificate, store gift card, or general-use prepaid card produced before April 1, 2010, the effective date of the certain disclosure requirements under the Electronic Funds Transfer Act pertaining to fees shall be delayed until January 31, 2011. Requires the issuer of such a certificate or card, as a condition of such delayed effective date, to: (1) comply with a specified prohibition against and certain requirements for the imposition of any dormancy, inactivity, or service fees; (2) consider any such certificate or card for which funds expire to have no expiration date with respect to the underlying funds; (3) replace, at consumer request, any such certificate or card that has funds remaining at no cost to the consumer; and (4) comply with certain consumer rights disclosure requirements.

Vote Result

Passed House

On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 357 - 0 (Roll no. 357). (text: CR H4394)

Actions

2010-07-13T00:00:00

Cleared for White House.

2010-07-27T00:00:00

Became Public Law No: 111-209.

2010-07-27T00:00:00

Became Public Law No: 111-209.

2010-07-27T00:00:00

Signed by President.

2010-07-27T00:00:00

Signed by President.

2010-07-15T00:00:00

Presented to President.

2010-07-15T00:00:00

Presented to President.

2010-07-14T00:00:00

Message on Senate action sent to the House.

2010-07-13T00:00:00

Passed Senate without amendment by Unanimous Consent.

2010-07-13T00:00:00

Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.

2010-07-13T00:00:00

Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S5795)

2010-07-13T00:00:00

Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.(consideration: CR S5795)

2010-06-15T00:00:00

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

2010-06-15T00:00:00

Sponsor introductory remarks on measure. (CR E1100-1101)

2010-06-14T00:00:00

Motion to reconsider laid on the table Agreed to without objection.

2010-06-14T00:00:00

On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 357 - 0 (Roll no. 357). (text: CR H4394)

2010-06-14T00:00:00

Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 357 - 0 (Roll no. 357).(text: CR H4394)

2010-06-14T00:00:00

Considered as unfinished business. (consideration: CR H4397-4398)

2010-06-14T00:00:00

At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

2010-06-14T00:00:00

DEBATE - The House proceeded with forty minutes of debate on H.R. 5502.

2010-06-14T00:00:00

Considered under suspension of the rules. (consideration: CR H4393-4395)

2010-06-14T00:00:00

Mr. Hinojosa moved to suspend the rules and pass the bill.

2010-06-10T00:00:00

Referred to the House Committee on Financial Services.

2010-06-10T00:00:00

Introduced in House

2010-06-10T00:00:00

Introduced in House

Policy Areas

Finance and Financial Sector

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