Skip to main content
HR 2032 107th Congress House

Credit Card Consumer Protection Act of 2001

Official title: 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 cardholders, and for other purposes.

Introduced: May 25, 2001 See on congress.gov
Finance and Financial Sector Bank marketingChecksCommerceConsumer credit
More subjectsShow fewer subjects
Consumer educationConsumer protectionCredit cardsFeesFinance chargesGovernment Operations and PoliticsGovernment paperworkInterest rates
Sign in to write a letter Sign in to watch
This bill died when the 107th Congress ended
It never became law before the 107th Congress (2001–2002) 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
Jun 18, 2001
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
May 25, 2001
Referred to the House Committee on Financial Services.
May 25, 2001
Introduced in House
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Latest action June 18, 2001

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service
Credit Card Consumer Protection Act of 2001- 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: (1) introductory ("teaser") rates to identify the fixed and variable interest rate which will apply following the introductory period; (2) last payment date and payment processing date before imposition of late fees; and (3) the period of time required to pay off the outstanding balance if only the minimum payment is forwarded.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Democratic 2
D
Baldwin, Tammy
Wisconsin · May 25, 2001
FROST, MARTIN
· May 25, 2001
 D
Thompson, Bennie G.
Mississippi · May 25, 2001
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2032: Credit Card Consumer Protection Act of 2001. 107th Congress. Open America. https://openamerica.io/bill/107-HR-2032/
MLA
"H.R. 2032: Credit Card Consumer Protection Act of 2001." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-HR-2032/.
Bluebook (legal)
H.R. 2032, 107th Cong. (2026), https://openamerica.io/bill/107-HR-2032/.
Markdown link
[H.R. 2032: Credit Card Consumer Protection Act of 2001](https://openamerica.io/bill/107-HR-2032/)
Report a problem