‘‘(K) Availability of no-cost or low-cost ac-
counts for consumers who maintain low
balances.
‘‘(2) NEGOTIABLE ORDER OF WITHDRAWAL AC-
COUNTS AND SAVINGS ACCOUNTS.—Data on nego-
tiable order of withdrawal accounts and savings ac-
counts shall include, at a minimum, the following:
‘‘(A) Monthly and annual fees and min-
imum balances to avoid such fees.
‘‘(B) Minimum opening balances.
‘‘(C) Rate at which interest is paid to con-
sumers.
‘‘(D) Check processing fees for negotiable
order of withdrawal accounts.
‘‘(E) Fees imposed for using a teller or
other institution employee.
‘‘(F) Availability of no-cost or low-cost ac-
counts for consumers who maintain low
balances.
‘‘(3) AUTOMATED
TELLER
TRANSACTIONS.—
Data on automated teller machine transactions shall
include, at a minimum, the following:
‘‘(A) Monthly and annual fees.
‘‘(B) Card fees.
‘‘(C) Fees charged to customers for with-
drawals, deposits, and balance inquiries through
institution-owned machines.
‘‘(D) Fees charged to customers for with-
drawals, deposits, and balance inquiries through
machines owned by others.
‘‘(E) Fees charged to noncustomers for
withdrawals, deposits, and balance inquiries
through institution-owned machines.
‘‘(F) Point-of-sale transaction fees.
‘‘(4) OTHER
ELECTRONIC
TRANSACTIONS.—
Data on other electronic transactions shall include,
at a minimum, the following:
‘‘(A) Wire transfer fees.
‘‘(B) Fees related to payments made over
the Internet or through other electronic means.
‘‘(5) OTHER
FEES
AND
CHARGES.—Data on
any other fees and charges that the Board of Gov-
ernors of the Federal Reserve System determines to
be appropriate to meet the purposes of this section.
‘‘(6) FEDERAL RESERVE BOARD AUTHORITY.—
The Board of Governors of the Federal Reserve Sys-
tem may cease the collection of information with re-
gard to any particular fee or charge specified in this
subsection if the Board makes a determination that,
on the basis of changing practices in the financial
services industry, the collection of such information
is no longer necessary to accomplish the purposes of
this section.
‘‘(c) ANNUAL REPORT TO CONGRESS REQUIRED.—
‘‘(1) PREPARATION.—The Board of Governors
of the Federal Reserve System shall prepare a report
of the results of each survey conducted pursuant to
subsections (a) and (b) of this section and section
136(b)(1) of the Consumer Credit Protection Act.
‘‘(2) CONTENTS OF THE REPORT.—In addition
to the data required to be collected pursuant to sub-
sections (a) and (b), each report prepared pursuant
to paragraph (1) shall include a description of any
discernible trend, in the Nation as a whole, in a rep-
resentative sample of the 50 States (selected with
due regard for regional differences), and in each
consolidated metropolitan statistical area (as defined
by the Director of the Office of Management and
Budget), in the cost and availability of the retail
banking services, including those described in sub-
sections (a) and (b) (including related fees and min-
imum balances), that delineates differences between
institutions on the basis of the type of institution
and the size of the institution, between large and
small institutions of the same type, and any engage-
ment of the institution in multistate activity.
‘‘(3) SUBMISSION TO CONGRESS.—The Board
of Governors of the Federal Reserve System shall
submit an annual report to the Congress not later
than June 1, 2005, and not later than June 1 of
each subsequent year.
‘‘(d) DEFINITIONS.—For purposes of this section, the
term ‘insured depository institution’ has the meaning
given such term in section 3 of the Federal Deposit Insur-
ance Act, and the term ‘insured credit union’ has the
meaning given such term in section 101 of the Federal
Credit Union Act.’’.
(2) CONFORMING AMENDMENT.—
(A) IN GENERAL.—Paragraph (1) of sec-
tion 136(b) of the Truth in Lending Act (15
U.S.C. 1646(b)(1)) is amended to read as fol-
lows:
‘‘(1) COLLECTION REQUIRED.—The Board shall
collect, on a semiannual basis, from a broad sample
of financial institutions which offer credit card serv-
ices, credit card price and availability information
including—
‘‘(A) the information required to be dis-
closed under section 127(c) of this chapter;
‘‘(B) the average total amount of finance
charges paid by consumers; and
‘‘(C) the following credit card rates and
fees:
‘‘(i) Application fees.
‘‘(ii) Annual percentage rates for cash
advances and balance transfers.
‘‘(iii) Maximum annual percentage
rate that may be charged when an account
is in default.
‘‘(iv) Fees for the use of convenience
checks.
‘‘(v) Fees for balance transfers.
‘‘(vi) Fees for foreign currency con-
versions.’’.
(B) EFFECTIVE
DATE.—The amendment
made by subparagraph (A) shall take effect on
January 1, 2004.
(3) REPEAL OF OTHER REPORT PROVISIONS.—
Section 1002 of Financial Institutions Reform, Re-
covery, and Enforcement Act of 1989 and section
108 of the Riegle-Neal Interstate Banking and
Branching Efficiency Act of 1994 are hereby re-
pealed.