US Congress House Bill 1637 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 5-0)
Status: Introduced on March 19 2009 - 25% progression, died in committee
Action: 2009-03-19 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Universal Default Prohibition Act of 2009 - Amends the Truth in Lending Act to prohibit a creditor from: (1) using any adverse information concerning any consumer, including any in a consumer report or any change in the consumer's credit score, as the basis for increasing any annual percentage rate of interest (APR) for a credit card account of the consumer's under an open end consumer credit plan; or (2) removing or increasing any introductory APR for that account, for reasons other than actions or omissions of the consumer directly related to the account. Requires such limitation on the use of adverse information to be clearly and conspicuously described to the consumer by the credit card issuer.

Universal Default Prohibition Act of 2009

Rep. Lacy Clay [D-MO]	Rep. Emanuel Cleaver [D-MO]	Rep. Keith Ellison [D-MN]	Rep. Al Green [D-TX]
Rep. Luis Gutierrez [D-IL]

Date	Chamber	Action
2009-03-19		Referred to the House Committee on Financial Services.

SB399 (Same As) 2009-02-09 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/house-bill/1637/all-info
Text	https://www.congress.gov/111/bills/hr1637/BILLS-111hr1637ih.pdf