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S. 480 106th Congress Senate

Credit and Consumer Protection Act of 1999

Official title: A bill to amend the Truth in Lending Act to protect consumers from certain unreasonable practices of creditors which result in higher fees or rates of interest… Show full official titleShow less

Official title: A bill to amend the Truth in Lending Act to protect consumers from certain unreasonable practices of creditors which result in higher fees or rates of interest for credit card holders, and for other purposes.

Introduced: February 25, 1999 Introduced by: Charles E. Schumer Democratic · New York See on congress.gov
Finance and Financial Sector Bank marketingChecksCommerceConsumer credit
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Consumer educationConsumer protectionCredit cardsFeesFinance chargesGovernment Operations and PoliticsGovernment paperworkInterest rates
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This bill died when the 106th Congress ended
It never became law before the 106th Congress (1999–2000) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 25, 1999
Read twice and referred to the Committee on Banking.
Feb 25, 1999
Sponsor introductory remarks on measure. (CR S2022)
Feb 25, 1999
Introduced in Senate
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 Latest action February 25, 1999

Read twice and referred to the Committee on Banking.

 Plain-English summary Congressional Research Service

Credit Card Consumer Protection Act of 1999 - Amends the Truth in Lending Act to: (1) prohibit fee assessment against a credit card account under an open-end consumer credit plan solely on the basis of on-time payments; (2) require advance notice of any interest rate increase for a credit card account, and of the consumer's right to cancel such account before the effective date of that increase; and (3) prohibit post-cancellation increases in interest rates and fees on the outstanding balance of any canceled cards.

Mandates disclosure to a credit card account holder of the fees and interest rates imposed upon credit advances through the use of third party checks.

Proscribes over-the-limit fees in creditor-approved transactions and two-cycle billing.

Prescribes additional notice requirements governing introductory rates to identify the fixed and variable interest rate which will apply following the introductory period.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 480: Credit and Consumer Protection Act of 1999. 106th Congress. Open America. https://openamerica.io/bill/106-S-480/
MLA
"S. 480: Credit and Consumer Protection Act of 1999." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-S-480/.
Bluebook (legal)
S. 480, 106th Cong. (2026), https://openamerica.io/bill/106-S-480/.
Markdown link
[S. 480: Credit and Consumer Protection Act of 1999](https://openamerica.io/bill/106-S-480/)
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