Credit Card Safety Star Act of 2009

Summary

Credit Card Safety Star Act of 2009 - Amends the Truth in Lending Act to direct the Board of Governors of the Federal Reserve System to promulgate rules to implement a Safety Star System, with one to five stars, to allow consumers to compare quickly and easily the terms, conditions, and levels of safety associated with various open end credit plan agreements. Specifies a point structure for rating credit cards. Assigns an automatic one-star rating (the lowest level of safety) to any open end credit plan that allows the card issuer to modify the terms of the agreement with a cardholder at any time or periodically for unspecified or unstated reasons. Establishes the Credit Card Safety Star Advisory Commission.

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Timeline

1. 27 April 2009

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S4757-4760)

   Source: IntroReferral

2. 27 April 2009

   Introduced

   Sponsor introductory remarks on measure. (CR S4757)

   Source: IntroReferral

3. 27 April 2009

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 27 April 2009 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 27 April 2009

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 27 April 2009

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 27 April 2009

  Open at official source

Sponsors

• Ron Wyden · D · Sponsor
• Jeff Merkley · D · Cosponsor
• · ssbk00 · Standing

Related records

No cross-record relationships stored yet.