IIB 
111TH CONGRESS 
1ST SESSION H. R. 3639 
IN THE SENATE OF THE UNITED STATES 
NOVEMBER 5, 2009 
Received 
DECEMBER 23, 2009 
Read twice and referred to the Committee on Banking, Housing, and Urban 
Affairs 
AN ACT 
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. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Expedited CARD Re-
form for Consumers Act of 2009’’. 
SEC. 2. EARLIER EFFECTIVE DATE FOR CREDIT CARD PRO-
VISIONS OF THE CREDIT CARD ACT OF 2009. 
Section 3 of the Credit Card Accountability Responsi-
bility and Disclosure Act of 2009 (15 U.S.C. 1602 note) 
is amended— 
(1) by striking ‘‘This Act’’ and inserting ‘‘(a) 
IN GENERAL.—This Act’’; and 
(2) by adding at the end the following new sub-
sections: 
‘‘(b) CERTAIN CREDIT CARD PROVISIONS.—Except 
as otherwise specifically provided in this Act, titles I, II, 
and III, and the amendments made by such titles, shall 
take effect on the date of the enactment of the Expedited 
CARD Reform for Consumers Act of 2009. 
‘‘(c) CERTAIN CREDIT CARD ISSUERS.—Except as 
otherwise specifically provided in this Act and notwith-
standing subsection (b), the effective date established 
under subsection (a) shall apply with respect to the appli-
cation of titles I, II, and III, and the amendments made 
by such titles, to any credit card issuer which is a deposi-
tory institution (as defined in section 19(b)(1)(A) of the 
Federal Reserve Act) with fewer than 2,000,000 credit 
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cards in circulation as of the date of the enactment of this 
Act.’’. 
SEC. 3. EARLIER EFFECTIVE DATES FOR SPECIFIC PROVI-
SIONS TO PREVENT FURTHER ABUSES. 
(a) REVIEW OF PAST CONSUMER INTEREST RATE 
INCREASES.—Section 148(d) of the Truth in Lending Act 
(15 U.S.C. 1665c(d)) (as added by section 101(c) of the 
Credit Card Accountability Responsibility and Disclosure 
Act of 2009) is amended— 
(1) by striking ‘‘9 months after the date of en-
actment of this section’’ and inserting ‘‘the date of 
the enactment of the Expedited CARD Reform for 
Consumers Act of 2009, except that for a depository 
institution, as defined in section 19(b)(1)(A) of the 
Federal Reserve Act (12 U.S.C. 461(b)(1)(A)), with 
fewer than 2 million credit cards in circulation on 
the date of the enactment of the Expedited CARD 
Reform for Consumers Act of 2009, the effective 
date shall be February 22, 2010,’’; and 
(2) by striking ‘‘become effective 15 months 
after that date of enactment’’ and inserting ‘‘take 
effect on the date of the enactment of the Expedited 
CARD Reform for Consumers Act of 2009, except 
that for a depository institution, as defined in sec-
tion 19(b)(1)(A) of the Federal Reserve Act (12 
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U.S.C. 461(b)(1)(A)), with fewer than 2 million 
credit cards in circulation on the date of the enact-
ment of the Expedited CARD Reform for Con-
sumers Act of 2009, the effective date shall be Au-
gust 22, 2010’’. 
(b) REQUIREMENT THAT PENALTY FEES BE REA-
SONABLE AND PROPORTIONAL TO THE VIOLATION.—Sec-
tion 149(b) of the Truth in Lending Act (15 U.S.C. 
1665d(b)) (as added by section 102(b) of the Credit Card 
Accountability Responsibility and Disclosure Act of 2009) 
is amended— 
(1) by striking ‘‘9 months after the date of en-
actment of this section,’’ and inserting ‘‘the date of 
the enactment of the Expedited CARD Reform for 
Consumers Act of 2009, except that for a depository 
institution, as defined in section 19(b)(1)(A) of the 
Federal Reserve Act (12 U.S.C. 461(b)(1)(A)), with 
fewer than 2 million credit cards in circulation on 
the date of the enactment of the Expedited CARD 
Reform for Consumers Act of 2009, the effective 
date shall be February 22, 2010,’’; and 
(2) by striking ‘‘become effective 15 months 
after the date of enactment of the section’’ and in-
serting ‘‘take effect on the date of the enactment of 
the Expedited CARD Reform for Consumers Act of 
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2009, except that for a depository institution, as de-
fined in section 19(b)(1)(A) of the Federal Reserve 
Act (12 U.S.C. 461(b)(1)(A)), with fewer than 2 
million credit cards in circulation on the date of the 
enactment of the Expedited CARD Reform for Con-
sumers Act of 2009, the effective date shall be Au-
gust 22, 2010’’. 
SEC. 4. CLARIFICATION THAT 45-DAY DELAY DOES NOT 
APPLY TO REDUCTIONS IN INTEREST RATES 
AND FEES. 
Subsection (i) of section 127 of the Truth in Lending 
Act (15 U.S.C. 1637) (as added by section 101(a)(1) of 
the Credit CARD Act of 2009) is amended by adding at 
the end the following new paragraph: 
‘‘(5) CLARIFICATION.—No provision of this 
subsection shall be construed as preventing any 
creditor from putting any reduction in an annual 
percentage rate, any decrease or elimination of any 
fee imposed on any consumer, or any significant 
change in terms solely or primarily for the benefit of 
the consumer into effect immediately.’’. 
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SEC. 5. MORATORIUM ON INCREASES IN RATES AND FEES 
AND CHANGES IN TERMS TO THE DETRIMENT 
OF THE CONSUMER. 
Notwithstanding any other provision of this Act or 
any amendment made by this Act, subsection (b) of sec-
tion 164 of the Truth in Lending Act (as added by section 
104(4) of the Credit Card Accountability Responsibility 
and Disclosure Act of 2009 (Public Law 111–24)) shall 
not take effect until February 22, 2010, for any creditor 
with respect to an existing credit card account under an 
open end credit plan, or such a plan issued on or after 
the date of enactment, as long as the creditor does not— 
(1) increase any annual percentage rate, fee, or 
finance charge applicable to any existing or future 
balance, except as permitted under subsection 
171(b) of the Truth in Lending Act (as added by 
Public Law 111–24); or 
(2) change the terms to the detriment of a con-
sumer, including terms governing the repayment of 
any outstanding balance, except as provided in sec-
tion 171(c) of the Truth in Lending Act (as added 
by Public Law 111–24). 
SEC. 6. ADDITIONAL LIMITATIONS ESTABLISHED. 
Section 127 of the Truth in Lending Act (15 U.S.C. 
1637) is amended by inserting after subsection (r) (as 
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added by the Credit CARD Act of 2009) the following new 
subsection: 
‘‘(s) CANCELLATION OF ACCOUNT WITHOUT DETRI-
MENTAL EFFECT.—If, in the case of a credit card account 
under an open end consumer credit plan, the consumer 
receives notice of the imposition of a new fee, and within 
the 45-day period beginning on receipt of such notice, pays 
off any outstanding balance on the account, no creditor 
and no consumer reporting agency (as defined in section 
603) may use such pay off or closure of the consumer 
credit account to negatively impact the consumer’s credit 
score or consumer report (as such terms are defined in 
sections 609 and 603, respectively).’’. 
SEC. 7. MORATORIUM ON RATE INCREASES. 
(a) IN GENERAL.—During the period beginning on 
the date of the enactment of this Act and ending 9 months 
after the date of the enactment of the Credit Card Ac-
countability Responsibility and Disclosure Act of 2009, in 
the case of any credit card account under an open end 
consumer credit plan— 
(1) no creditor may increase any annual per-
centage rate, fee, or finance charge applicable to any 
outstanding balance, except as permitted under sub-
section 171(b) of the Truth in Lending Act (as 
added by Public Law 111–24); and 
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(2) no creditor may change the terms governing 
the repayment of any outstanding balance, except as 
set forth in section 171(c) of the Truth in Lending 
Act (as added by Public Law 111–24). 
(b) DEFINITIONS.—For purposes of this section, the 
following definitions shall apply: 
(1) ANNUAL
PERCENTAGE
RATE.—The term 
‘‘annual percentage rate’’ means an annual percent-
age rate, as determined under section 107 of the 
Truth in Lending Act (15 U.S.C. 1606). 
(2) FINANCE
CHARGE.—The term ‘‘finance 
charge’’ means a finance charge, as determined 
under section 106 of the Truth in Lending Act (15 
U.S.C. 1605). 
(3) OUTSTANDING BALANCE.—The term ‘‘out-
standing balance’’ has the same meaning as in sec-
tion 171(d) of the Truth in Lending Act (as added 
by Public Law 111–24). 
(4) OTHER TERMS.—Any term used in this sec-
tion that is defined in section 103 of the Truth in 
Lending Act (15 U.S.C. 1602) and is not otherwise 
defined in this section shall have the same meanings 
as in section 103 of the Truth in Lending Act. 
(c) REGULATORY AUTHORITY.— 
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(1) IN GENERAL.—The Board of Governors of 
the Federal Reserve System may prescribe such reg-
ulations as may be necessary to carry out this sec-
tion. 
(2) EFFECTIVE DATE.—The provisions of this 
section shall take effect upon the date of the enact-
ment of this title, regardless of whether rules are 
issued under subsection (a). 
Passed the House of Representatives November 4, 
2009. 
Attest: 
LORRAINE C. MILLER, 
Clerk. 
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