HR 2695 111th Congress House Finance and Financial Sector Bank accounts, deposits, capital Competition and antitrust Consumer credit Contracts and agency Financial services and investments Retail and wholesale trades User charges and fees

Credit Card Fair Fee Act of 2009

Introduced: June 4, 2009 See on congress.gov

Everywhere this bill has been 5 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Apr 28, 2010

Committee Hearings Held.

Apr 27, 2010

Committee Hearings Held.

Jun 4, 2009

Referred to the House Committee on the Judiciary.

Jun 4, 2009

Sponsor introductory remarks on measure. (CR E1308)

Jun 4, 2009

Introduced in House

Plain-English summary Congressional Research Service

Credit Card Fair Fee Act of 2009 - Sets forth a limited antitrust immunity to providers of covered electronic payment systems and merchants for negotiation of access rates and terms. Authorizes providers of a single covered electronic payment system (e.g. credit cards and/or debit cards) and merchants to jointly negotiate and agree upon rates and terms for access to such system. Provides immunity exceptions.

Requires the rates and terms of a voluntarily negotiated access agreement to be the same for all merchants and participating providers, regardless of their respective category or volume of transactions.

Requires issuers, acquirers, owners, and merchants to make specified disclosures regarding itemized costs and access agreements.

Requires the negotiating parties to file jointly with the Attorney General any voluntarily negotiated access agreement that affects any market in the United States or elsewhere.

What's happening now April 28, 2010

Committee Hearings Held.

Committees of jurisdiction 1