IB 

Union Calendar No. 180 

111TH CONGRESS 

1ST SESSION H. R. 3639 

[Report No. 111–314] 

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 

OCTOBER 26, 2009 

Additional sponsors: Mr. GEORGE MILLER of California, Mrs. LOWEY, Mr. 

KANJORSKI, Mr. CUMMINGS, Mr. ELLISON, Mr. MAFFEI, Mr. ACKERMAN, 

Ms. PINGREE of Maine, Ms. LEE of California, Ms. MARKEY of Colorado, 

Ms. FUDGE, Ms. TITUS, Mr. HODES, Mr. BACA, Mr. SHERMAN, Mr. 

KISSELL, Mr. HALL of New York, Ms. ZOE LOFGREN of California, Mr. 

GRIJALVA, Ms. CHU, Ms. MATSUI, Mr. MCGOVERN, Mr. WAXMAN, Mr. 

LANGEVIN, Mr. OLVER, Ms. KILROY, Mr. ROTHMAN of New Jersey, Mr. 

MEEK of Florida, Mr. NADLER of New York, Mr. PATRICK J. MURPHY

of Pennsylvania, and Mr. MARKEY of Massachusetts 

OCTOBER 26, 2009 

Reported with an amendment, committed to the Committee of the Whole 

House on the State of the Union, and ordered to be printed 

[Strike out all after the enacting clause and insert the part printed in italic] 

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•HR 3639 RH

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. 

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•HR 3639 RH

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Expedited CARD Re5 form for Consumers Act of 2009’’. 

6 SEC. 2. EARLIER EFFECTIVE DATE FOR THE CREDIT CARD 

7 ACT OF 2009, GENERALLY. 

8 Section 3 of the Credit Card Accountability Responsi9 bility and Disclosure Act of 2009 is amended by striking 

10 ‘‘become effective 9 months after the date of enactment 

11 of this Act,’’ and inserting ‘‘take effect on December 1, 

12 2009,’’. 

13 SEC. 3. EARLIER EFFECTIVE DATES FOR SPECIFIC PROVI14 SIONS TO PREVENT FURTHER ABUSES. 

15 (a) REVIEW OF PAST CONSUMER INTEREST RATE

16 INCREASES.—Section 148(d) of the Truth in Lending Act 

17 (15 U.S.C. 1665c(d)) (as added by section 101(c) of the 

18 Credit Card Accountability Responsibility and Disclosure 

19 Act of 2009) is amended— 

20 (1) by striking ‘‘9 months after the date of en21 actment of this section,’’ and inserting ‘‘December 1, 

22 2009,’’; and 

23 (2) by striking ‘‘become effective 15 months 

24 after that date of enactment’’ and inserting ‘‘take 

25 effect on December 1, 2009’’. 

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•HR 3639 RH

1 (b) REQUIREMENT THAT PENALTY FEES BE REA2 SONABLE AND PROPORTIONAL TO THE VIOLATION.—Sec3 tion 149(b) of the Truth in Lending Act (15 U.S.C. 

4 1665d(b)) (as added by section 102(b) of the Credit Card 

5 Accountability Responsibility and Disclosure Act of 2009) 

6 is amended— 

7 (1) by striking ‘‘9 months after the date of en8 actment of this section’’ and inserting ‘‘December 1, 

9 2009,’’; and 

10 (2) by striking ‘‘become effective 15 months 

11 after that date of enactment’’ and inserting ‘‘take 

12 effect on December 1, 2009’’. 

13 (c) GIFT CARD PROTECTIONS FOR CONSUMERS.— 

14 (1) IN GENERAL.—Section 403 of the Credit 

15 Card Accountability Responsibility and Disclosure 

16 Act of 2009 is amended by striking ‘‘become effec17 tive 15 months after the date of enactment of this 

18 Act,’’ and inserting ‘‘take effect on December 1, 

19 2009,’’. 

20 (2) REGULATIONS.—Section 915(d)(3) of the 

21 Electronic Fund Transfer Act (15 U.S.C. 1693l– 

22 1(d)(3)) (as added by section 401(2) of the Credit 

23 Card Accountability Responsibility and Disclosure 

24 Act of 2009) is amended by striking ‘‘9 months 

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•HR 3639 RH

1 after the date of enactment of the Credit CARD Act 

2 of 2009’’ and inserting ‘‘December 1, 2009’’. 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Expedited CARD Re5 form for Consumers Act of 2009’’. 

6 SEC. 2. EARLIER EFFECTIVE DATE FOR THE CREDIT CARD 

7 ACT OF 2009, GENERALLY. 

8 Section 3 of the Credit Card Accountability Responsi9 bility and Disclosure Act of 2009 is amended by striking 

10 ‘‘become effective 9 months after the date of enactment of 

11 this Act,’’ and inserting ‘‘take effect on December 1, 2009, 

12 except that for a depository institution, as defined in sec13 tion 19(b)(1)(A) of the Federal Reserve Act (12 U.S.C. 

14 461(b)(1)(A)), with fewer than 2 million credit cards in cir15 culation on the date of the enactment of the Expedited 

16 CARD Reform for Consumers Act of 2009, the effective date 

17 shall be February 22, 2010,’’. 

18 SEC. 3. EARLIER EFFECTIVE DATES FOR SPECIFIC PROVI19 SIONS TO PREVENT FURTHER ABUSES. 

20 (a) REVIEW OF PAST CONSUMER INTEREST RATE IN21 CREASES.—Section 148(d) of the Truth in Lending Act (15 

22 U.S.C. 1665c(d)) (as added by section 101(c) of the Credit 

23 Card Accountability Responsibility and Disclosure Act of 

24 2009) is amended— 

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•HR 3639 RH

1 (1) by striking ‘‘9 months after the date of enact2 ment of this section’’ and inserting ‘‘December 1, 

3 2009, except that for a depository institution, as de4 fined in section 19(b)(1)(A) of the Federal Reserve Act 

5 (12 U.S.C. 461(b)(1)(A)), with fewer than 2 million 

6 credit cards in circulation on the date of the enact7 ment of the Expedited CARD Reform for Consumers 

8 Act of 2009, the effective date shall be February 22, 

9 2010,’’; and 

10 (2) by striking ‘‘become effective 15 months after 

11 that date of enactment’’ and inserting ‘‘take effect on 

12 December 1, 2009, except that for a depository insti13 tution, as defined in section 19(b)(1)(A) of the Fed14 eral Reserve Act (12 U.S.C. 461(b)(1)(A)), with fewer 

15 than 2 million credit cards in circulation on the date 

16 of the enactment of the Expedited CARD Reform for 

17 Consumers Act of 2009, the effective date shall be Au18 gust 22, 2010’’. 

19 (b) REQUIREMENT THAT PENALTY FEES BE REASON20 ABLE AND PROPORTIONAL TO THE VIOLATION.—Section 

21 149(b) of the Truth in Lending Act (15 U.S.C. 1665d(b)) 

22 (as added by section 102(b) of the Credit Card Account23 ability Responsibility and Disclosure Act of 2009) is 

24 amended— 

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•HR 3639 RH

1 (1) by striking ‘‘9 months after the date of enact2 ment of this section,’’ and inserting ‘‘December 1, 

3 2009, except that for a depository institution, as de4 fined in section 19(b)(1)(A) of the Federal Reserve Act 

5 (12 U.S.C. 461(b)(1)(A)), with fewer than 2 million 

6 credit cards in circulation on the date of the enact7 ment of the Expedited CARD Reform for Consumers 

8 Act of 2009, the effective date shall be February 22, 

9 2010,’’; and 

10 (2) by striking ‘‘become effective 15 months after 

11 the date of enactment of the section’’ and inserting 

12 ‘‘take effect on December 1, 2009, except that for a de13 pository institution, as defined in section 19(b)(1)(A) 

14 of the Federal Reserve Act (12 U.S.C. 461(b)(1)(A)), 

15 with fewer than 2 million credit cards in circulation 

16 on the date of the enactment of the Expedited CARD 

17 Reform for Consumers Act of 2009, the effective date 

18 shall be August 22, 2010’’. 

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Union Calendar No. 180 

111TH CONGRESS 

1ST SESSION H. R. 3639 

[Report No. 111–314] 

A BILL 

To amend the Credit Card Accountability Responsitions, and for other purposes. earlier effective date for various consumer protec- bility and Disclosure Act of 2009 to establish an 

OCTOBER 26, 2009 

Reported with an amendment, committed to the Comand ordered to be printed mittee of the Whole House on the State of the Union, 

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