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HR 2327 111th Congress House

Protection of Consumer Credit and Consumer Choice Act of 2009

Official title: To preserve consumer choice and access to credit and enhance consumer disclosures.

Introduced: May 7, 2009 See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresBanking and financial institutions regulationConsumer affairsConsumer credit
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Department of the TreasuryFederal Reserve SystemInterest, dividends, interest ratesNational Credit Union Administration
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This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 7, 2009
Referred to the House Committee on Financial Services.
May 7, 2009
Introduced in House
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 Latest action May 7, 2009

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

Protection of Consumer Credit and Consumer Choice Act of 2009 - Prohibits the Board of Governors of the Federal Reserve, the Office of Thrift Supervision, and the National Credit Union Administration from taking any action to implement any rule relating to credit cards published in the Federal Register on January 29, 2009, or any substantially similar rule, on the basis of a determination by such agencies that practices relating to credit card practices constitute an unfair act or practice in or affecting commerce.

Amends the Truth in Lending Act to direct the Board to issue regulations with respect to credit card accounts under an open end consumer credit plan to require a card issuer to provide clear and conspicuous disclosures pertaining to: (1) the time provided to make timely payments; (2) allocation of payments when different annual percentage rates (APRs) apply to different balances of such accounts; (3) increases in APRs; (4) two-cycle average daily balance method of balance calculation; and (5) fees that may be assessed at the opening of such accounts.

Requires a credit card issuer to provide advance written notice of a change in such terms before it takes effect, with certain exceptions.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2
R
Foxx, Virginia
North Carolina · May 7, 2009
 R
Lummis, Cynthia M.
Wyoming · May 7, 2009
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2327: Protection of Consumer Credit and Consumer Choice Act of 2009. 111th Congress. Open America. https://openamerica.io/bill/111-HR-2327/
MLA
"H.R. 2327: Protection of Consumer Credit and Consumer Choice Act of 2009." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-HR-2327/.
Bluebook (legal)
H.R. 2327, 111th Cong. (2026), https://openamerica.io/bill/111-HR-2327/.
Markdown link
[H.R. 2327: Protection of Consumer Credit and Consumer Choice Act of 2009](https://openamerica.io/bill/111-HR-2327/)
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