A bill to amend the effective date of the gift card provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009.

Summary

Amends the Credit Card Accountability Responsibility and Disclosure Act of 2009 to state that, in the case of a gift certificate, store gift card, or general-use prepaid card produced before April 1, 2010, the effective date of the certain disclosure requirements under the Electronic Funds Transfer Act pertaining to fees shall be delayed until January 31, 2011. Requires the issuer of such a certificate or card, as a condition of such delayed effective date, to: (1) comply with a specified prohibition against and certain requirements for the imposition of any dormancy, inactivity, or service fees; (2) consider any such certificate or card for which funds expire to have no expiration date with respect to the underlying funds; (3) replace, at consumer request, any such certificate or card that has funds remaining at no cost to the consumer; and (4) comply with certain consumer rights disclosure requirements.

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Timeline

1. 29 June 2010

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 29 June 2010

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 29 June 2010 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 29 June 2010

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 29 June 2010

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 29 June 2010

  Open at official source

Sponsors

• Sen. Tester, Jon [D-MT] · D · Sponsor
• Sen. Bennett, Robert F. [R-UT] · R · Sponsor
• Sen. Bayh, Evan [D-IN] · D · Sponsor
• Sen. Vitter, David [R-LA] · R · Sponsor
• Rep. Carper, Thomas R. [D-DE-At Large] · D · Cosponsor
• Sen. Hagan, Kay R. [D-NC] · D · Cosponsor
• Kirsten Gillibrand · D · Cosponsor
• Mike Crapo · R · Cosponsor
• · ssbk00 · Standing

Related records

• related to → To amend the effective date of the gift card provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009.