Consumer Credit Card Protection Act of 2005

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

I SandersSponsor

32 cosponsors · 32 D

3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

What it does: CRS summary · Introduced in House · Jul 27, 2005

Consumer Credit Card Protection Act of 2005 - Amends the Truth in Lending Act to prohibit a creditor from using adverse information concerning a consumer as the basis for increasing any annual percentage rate of interest applicable to a credit card account of the consumer under an open end consumer credit plan, or to remove or increase any introductory annual percentage rate of interest applicable to such account, for reasons other than actions or omissions of the consumer that are directly related to such account (universal default).

Expands mandatory disclosures governing an open end consumer credit plan to include clear and conspicuous minimum payment terms with respect to the outstanding balance on the account, including prescribed details expressed in tabular format and in close proximity.

Requires a creditor to furnish advance notice as a prerequisite to increasing rates or imposing fees on a consumer credit card account.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Consumer Credit Card Protection Act of 2005

Latest action (Aug 24, 2005): Referred to the Subcommittee on Financial Institutions and Consumer Credit.

Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 27, 2005

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.