Amendment111th Congress
Amendment requires credit cardholders to opt in to receive over-the-limit protection on their credit card in order for a credit card company to charge an over-the-limit fee. The amendment also allows for transactions that go over the limit to be completed for operational reasons as long as they are of a small amount. Lastly, the credit card company is not allowed to charge a fee.
- Amendment Number
- 97
- Description
- Amendment requires credit cardholders to opt in to receive over-the-limit protection on their credit card in order for a credit card company to charge an over-the-limit fee. The amendment also allows for transactions that go over the limit to be completed for operational reasons as long as they are of a small amount. Lastly, the credit card company is not allowed to charge a fee.
- Purpose
- An amendment numbered 8 printed in House Report 111-92 to require credit cardholders to opt-into receiving over-the-limit protection on their credit card in order for a credit card company to charge an over-the-limit fee. Allows for transactions that go over the limit to be completed for operational reasons as long as they are of a de minimis amount, but the credit card company is not allowed to charge a fee.
- Congress
- 111
- Type
- HAMDT
- Latest Action Date
- Apr 30, 2009
- Latest Action Text
- On agreeing to the Maloney amendment (A008) Agreed to by recorded vote: 284 - 149 (Roll no. 226).
- Latest Action Time
- 14:48:43
- Submitted Date
- Apr 30, 2009
- Chamber
- House of Representatives
- Update Date
- Jul 11, 2021