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HR 3457 111th Congress House

Small Business Credit Card Act of 2009

Official title: To amend the Truth in Lending Act to provide coverage under such Act for credit cards issued to small businesses, and for other purposes.

Introduced: November 5, 2009 See on congress.gov
Finance and Financial Sector Consumer affairsConsumer creditCredit and credit marketsSmall business
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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
Jul 31, 2009
Referred to the House Committee on Financial Services.
Jul 31, 2009
Introduced in House
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 Latest action July 31, 2009

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

Small Business Credit Card Act of 2009 - Amends the Truth in Lending Act to cover any qualified small business as a consumer with respect to a credit card account under an open end credit plan (thereby extending credit card protections under such Act to small businesses).

Defines "qualified small business" under the Act as any business concern having 50 or fewer employees, whether or not: (1) the credit card account is in the name of an individual or a business entity; and (2) any credit transaction involving such account is for business or personal purposes.

Permits a qualified small business to elect to opt out of coverage by the Act.

Exempts from coverage by the Act any credit transaction in which the total amount financed exceeds $50,000 (currently $25,000).

Requires certain creditor disclosures before opening any account under an open end consumer credit plan for a qualified small business.

Prohibits a creditor from: (1) discriminating against any business concern having 50 or fewer employees in connection with any credit card account under an open end credit plan; or (2) requiring any qualified small business to make an opt-out election as a condition for opening a credit card account, or for providing more advantageous terms for such an account.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 7
All 7 Democratic 2
HILL, BARON
· Dec 2, 2009
Kagen, Steve
· Nov 18, 2009
Schauer, Mark
· Nov 18, 2009
 D
Nadler, Jerrold
New York · Nov 5, 2009
 D
Schakowsky, Janice D.
Illinois · Nov 5, 2009
Markey, Betsy
· Oct 20, 2009
Perriello, Thomas
· Jul 31, 2009
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3457: Small Business Credit Card Act of 2009. 111th Congress. Open America. https://openamerica.io/bill/111-HR-3457/
MLA
"H.R. 3457: Small Business Credit Card Act of 2009." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-HR-3457/.
Bluebook (legal)
H.R. 3457, 111th Cong. (2026), https://openamerica.io/bill/111-HR-3457/.
Markdown link
[H.R. 3457: Small Business Credit Card Act of 2009](https://openamerica.io/bill/111-HR-3457/)
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