H.R. 2419 · 113th Congress
Small Business Credit Card Act of 2013
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
LoweySponsor8 cosponsors · 8 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Small Business Credit Card Act of 2013 - Amends the Truth in Lending Act to cover any qualified small business as a consumer with respect to a credit card account under an open end credit plan (thereby extending credit card protections under such Act to small businesses).
What it does: CRS summary · Introduced in House · Jun 18, 2013
Small Business Credit Card Act of 2013 - Amends the Truth in Lending Act to cover any qualified small business as a consumer with respect to a credit card account under an open end credit plan (thereby extending credit card protections under such Act to small businesses).
Defines "qualified small business" under the Act as any business concern having 50 or fewer employees, whether or not: (1) the credit card account is in the name of an individual or a business entity, and (2) any credit transaction involving such account is for business or personal purposes.
Permits a qualified small business to elect to opt out of coverage by the Act.
Requires certain creditor disclosures before opening any account under an open end consumer credit plan for a qualified small business.
Prohibits a creditor from: (1) discriminating against any business concern having 50 or fewer employees in connection with any credit card account under an open end credit plan; or (2) requiring any qualified small business to make an opt-out election as a condition for opening a credit card account, or for providing more advantageous terms for such an account.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Credit Card Act of 2013
Latest action (Jun 18, 2013): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jun 18, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.