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National
Key Vote
Credit Card Regulations
Project Vote Smart's Synopsis:
Vote to pass a bill that creates new regulations governing the actions of credit card companies.
Official Title of Legislation:
HR 5244: To amend the Truth in Lending Act to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan, and for other purposes.
Highlights:
- Prohibits creditors from imposing finance charges based on balances for days in previous billing cycles (Sec. 3).
- Increases the time by which creditors must send periodic credit card account statements to consumers to at least 25 days before the due date of the next payment instead of 14 days before the due date (Sec. 3).
- Mandates that creditors inform consumers of any increase in the annual percentage rate of interest at least 45 days before the rate increase takes effect (Sec. 2).
- Prohibits creditors from charging fees for outstanding interest accrued on an outstanding balance during a previous billing period that was paid in full during that period (Sec. 3).
Link to Legislation: http://thomas.loc.gov/cgi-bin/query/z?c110:hr5244:
House Passage: 09/23/2008 : Bill Passed 312 - 112 (Roll no. 623) Senate Referred to Committee: 10/02/2008 : Banking, Housing and Urban Affairs
Sponsor: Rep. Maloney, Carolyn (D-NY)
Cosponsors: Rep. Abercrombie, Neil (D-HI)
Rep. Ackerman, Gary (D-NY)
Rep. Allen, Thomas (D-ME) (out of office)
Rep. Andrews, Robert (D-NJ)
Rep. Arcuri, Michael (D-NY)
Rep. Baca, Joe (D-CA)
Rep. Baird, Brian (D-WA)
Rep. Baldwin, Tammy (D-WI)
Rep. Barrow, John (D-GA)
Rep. Becerra, Xavier (D-CA)
Rep. Berkley, Shelley (D-NV)
Rep. Berman, Howard (D-CA)
Rep. Bishop, Sanford Jr. (D-GA)
Rep. Blumenauer, Earl (D-OR)
Rep. Bordallo, Madeleine (D-GU)
Rep. Boswell, Leonard (D-IA)
Rep. Boyda, Nancy (D-KS) (out of office)
Rep. Brady, Robert (D-PA)
Rep. Braley, Bruce (D-IA)
Rep. Brown, Corrine (D-FL)
Rep. Butterfield, George Jr. (D-NC)
Rep. Capps, Lois (D-CA)
Rep. Capuano, Michael (D-MA)
Rep. Carnahan, John (D-MO)
Rep. Carson, André (D-IN)
Rep. Chandler, Albert III (D-KY)
Rep. Clarke, Yvette (D-NY)
Rep. Clay, William Jr. (D-MO)
Rep. Cleaver, Emanuel II (D-MO)
Rep. Cohen, Stephen (D-TN)
Rep. Conyers, John Jr. (D-MI)
Rep. Cooper, Jim (D-TN)
Rep. Courtney, Joseph (D-CT)
Rep. Cuellar, Henry (D-TX)
Rep. Cummings, Elijah (D-MD)
Rep. Davis, Danny (D-IL)
Rep. Davis, Lincoln (D-TN)
Rep. DeFazio, Peter (D-OR)
Rep. DeLauro, Rosa (D-CT)
Rep. Delahunt, William (D-MA)
Rep. Dingell, John (D-MI)
Rep. Doggett, Lloyd (D-TX)
Rep. Ellison, Keith (D-MN)
Rep. Engel, Eliot (D-NY)
Rep. Eshoo, Anna (D-CA)
Rep. Faleomavaega, Eni (D-AS)
Rep. Farr, Sam (D-CA)
Rep. Fattah, Chaka Sr. (D-PA)
Rep. Filner, Bob (D-CA)
Rep. Frank, Barney (D-MA)
Rep. Giffords, Gabrielle (D-AZ)
Rep. Gillibrand, Kirsten (D-NY) (out of office)
| Rep. Gonzalez, Charles (D-TX)
Rep. Green, Al (D-TX)
Rep. Green, Raymond (D-TX)
Rep. Grijalva, Raúl (D-AZ)
Rep. Gutierrez, Luis (D-IL)
Rep. Hall, John (D-NY)
Rep. Hare, Phil (D-IL)
Rep. Hastings, Alcee Sr. (D-FL)
Rep. Higgins, Brian (D-NY)
Rep. Hinchey, Maurice (D-NY)
Rep. Hinojosa, Rubén Sr. (D-TX)
Rep. Hirono, Mazie (D-HI)
Rep. Holt, Rush Jr. (D-NJ)
Rep. Honda, Michael (D-CA)
Rep. Inslee, Jay (D-WA)
Rep. Israel, Steve (D-NY)
Rep. Jackson, Jesse Jr. (D-IL)
Rep. Jackson Lee, Sheila (D-TX)
Rep. Jefferson, William (D-LA) (out of office)
Rep. Johnson, Eddie (D-TX)
Rep. Johnson, Henry Jr. (D-GA)
Rep. Jones, Stephanie (D-OH) (out of office)
Rep. Jones, Walter Jr. (R-NC)
Rep. Kagen, Steven (D-WI)
Rep. Kanjorski, Paul (D-PA)
Rep. Kaptur, Marcy (D-OH)
Rep. Kennedy, Patrick (D-RI)
Rep. Kildee, Dale (D-MI)
Rep. Kilpatrick, Carolyn (D-MI)
Rep. Kucinich, Dennis (D-OH)
Rep. Langevin, James (D-RI)
Rep. Lee, Barbara (D-CA)
Rep. Levin, Sander (D-MI)
Rep. Lewis, John (D-GA)
Rep. Lipinski, Daniel (D-IL)
Rep. Loebsack, Dave (D-IA)
Rep. Lofgren, Zoe (D-CA)
Rep. Lowey, Nita (D-NY)
Rep. Lynch, Stephen (D-MA)
Rep. Markey, Edward (D-MA)
Rep. Marshall, James (D-GA)
Rep. Matsui, Doris (D-CA)
Rep. McCollum, Betty (D-MN)
Rep. McDermott, James (D-WA)
Rep. McGovern, James (D-MA)
Rep. McNerney, Gerald (D-CA)
Rep. McNulty, Michael (D-NY) (out of office)
Rep. Meek, Kendrick Sr. (D-FL)
Rep. Miller, George (D-CA)
Rep. Miller, Ralph (D-NC)
Rep. Moran, James Jr. (D-VA)
Rep. Murtha, John (D-PA)
| Rep. Nadler, Jerrold (D-NY)
Rep. Napolitano, Grace (D-CA)
Rep. Neal, Richard (D-MA)
Rep. Norton, Eleanor (D-DC)
Rep. Obey, David Ross (D-WI)
Rep. Olver, John (D-MA)
Rep. Ortiz, Solomon Sr. (D-TX)
Rep. Pallone, Frank Jr. (D-NJ)
Rep. Pascrell, William Jr. (D-NJ)
Rep. Payne, Donald (D-NJ)
Rep. Rahall, Nick II (D-WV)
Rep. Rangel, Charles (D-NY)
Rep. Reyes, Silvestre (D-TX)
Rep. Rodriguez, Ciro (D-TX)
Rep. Rothman, Steven (D-NJ)
Rep. Roybal-Allard, Lucille (D-CA)
Rep. Ryan, Timothy (D-OH)
Rep. Sanchez, Loretta (D-CA)
Rep. Sarbanes, John (D-MD)
Rep. Schakowsky, Janice (D-IL)
Rep. Serrano, José (D-NY)
Rep. Shays, Christopher (R-CT) (out of office)
Rep. Shea-Porter, Carol (D-NH)
Rep. Sherman, Brad (D-CA)
Rep. Sires, Albio (D-NJ)
Rep. Slaughter, Louise (D-NY)
Rep. Solis, Hilda (D-CA) (out of office)
Rep. Speier, Karen Lorraine (D-CA)
Rep. Stark, Fortney (D-CA)
Rep. Stupak, Bart (D-MI)
Rep. Sutton, Betty (D-OH)
Rep. Sánchez, Linda (D-CA)
Rep. Taylor, Gene (D-MS)
Rep. Thompson, Bennie (D-MS)
Rep. Tierney, John (D-MA)
Rep. Towns, Edolphus (D-NY)
Rep. Tsongas, Nicola (D-MA)
Rep. Udall, Mark (D-CO) (out of office)
Rep. Van Hollen, Christopher Jr. (D-MD)
Rep. Walz, Timothy (D-MN)
Rep. Wasserman Schultz, Debbie (D-FL)
Rep. Waters, Maxine (D-CA)
Rep. Watson, Diane (D-CA)
Rep. Watt, Melvin (D-NC)
Rep. Waxman, Henry (D-CA)
Rep. Weiner, Anthony (D-NY)
Rep. Welch, Peter (D-VT)
Rep. Woolsey, Lynn (D-CA)
Rep. Wu, David (D-OR)
Rep. Wynn, Albert (D-MD) (out of office)
Rep. Yarmuth, John (D-KY)
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PVS provides summaries for each version of the bill selected as a key vote. The summary does not necessarily reflect the final version of the bill. For further status information, call the Voter's Research Hotline at 1-888-VOTE-SMART (1-888-868-3762).
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