I 

112TH CONGRESS 

1ST SESSION H. R. 3156 

To repeal the debit card interchange price control provisions of the DoddFrank Wall Street Reform and Consumer Protection Act and restore 

balance to the electronic payments system, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

OCTOBER 12, 2011 

Mr. CHAFFETZ (for himself and Mr. OWENS) introduced the following bill; 

which was referred to the Committee on Financial Services 

A BILL 

To repeal the debit card interchange price control provisions 

of the Dodd-Frank Wall Street Reform and Consumer 

Protection Act and restore balance to the electronic payments system, and for other purposes. 

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 ‘‘Consumer Debit Card 

5 Protection Act’’. 


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1 SEC. 2. REPEAL OF FEDERAL CONTROLS ON DEBIT CARD 

2 INTERCHANGE FEES. 

3 (a) REPEAL.—Effective as of the enactment of the 

4 Dodd-Frank Wall Street Reform and Consumer Protec5 tion Act (Public Law 111–203), section 1075 of that Act 

6 is repealed, and the provisions of law amended by such 

7 section are revived or restored as if such section had not 

8 been enacted. 

9 (b) RULEMAKINGS VOIDED.—Any regulation or in10 formation collection proposed or prescribed by the Board 

11 of Governors of the Federal Reserve System pursuant to 

12 section 920 of the Electronic Fund Transfer Act (as added 

13 by title X of the Dodd-Frank Wall Street Reform and 

14 Consumer Protection Act) is void and shall be withdrawn 

15 by the Board and shall have no force or effect. 

16 SEC. 3. STATUTORY CORRECTIONS. 

17 (a) ELECTRONIC FUND TRANSFER ACT.—The Elec18 tronic Fund Transfer Act (15 U.S.C. 1693 et seq.) is 

19 amended— 

20 (1) in section 904— 

21 (A) subsection (a)— 

22 (i) by amending paragraph (2) to read 

23 as follows: 

24 ‘‘(2) AUTHORITY OF THE BOARD.—The Board 

25 shall have sole authority to prescribe rules to carry 

26 out the purposes of this title with respect to a perVerDate Mar 15 2010 04:31 Oct 13, 2011 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H3156.IH H3156

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1 son described in section 1029(a) of the Consumer 

2 Financial Protection Act of 2010. In prescribing 

3 such regulations, the Board shall—’’; 

4 (ii) by redesignating the last 4 para5 graphs (designated as paragraphs (1) 

6 through (4)) as subparagraphs (A) 

7 through (B), respectively; 

8 (iii) in subparagraph (C) (as so redes9 ignated), by striking ‘‘the Board’’; and 

10 (iv) in subparagraph (D) (as so redes11 ignated)— 

12 (I) by striking ‘‘any’’ and insert13 ing ‘‘send any’’; 

14 (II) by striking ‘‘shall be sent’’; 

15 and 

16 (III) by striking ‘‘by the Board’’; 

17 and 

18 (B) in subsection (e), by striking ‘‘to—’’ 

19 and all that follows and inserting ‘‘to the Bu20 reau in making determinations regarding the 

21 meaning or interpretation of any provision of 

22 this title for which the Bureau has authority to 

23 prescribe regulations.’’; and 

24 (2) in section 918(a)— 


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1 (A) in paragraph (3), by striking the pe2 riod and inserting ‘‘; and’’; 

3 (B) in paragraph (4), by striking ‘‘; and’’ 

4 and inserting a period; and 

5 (C) by striking paragraph (5). 

6 (b) CONSUMER FINANCIAL PROTECTION ACT OF

7 2010.—Section 1002(12)(C) of the Dodd-Frank Wall 

8 Street Reform and Consumer Protection Act (12 U.S.C. 

9 5481(12)(C)) is amended by striking ‘‘, except with re10 spect to section 920 of that Act’’. 

11 (c) RULE OF CONSTRUCTION.—The amendments 

12 made by subsections (a) and (b) shall not be construed 

13 as limiting or expanding any authority granted to the Bu14 reau of Consumer Financial Protection under the Con15 sumer Financial Protection Act of 2010. Nothing in this 

16 Act or the amendment made by this Act shall be construed 

17 as granting such Bureau the authority to regulate debit 

18 card or credit card interchange transaction fees. 

Æ 


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