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HR 5199 111th Congress House

Electronic Check Parity Act of 2010

Official title: To authorize the Board of Governors of the Federal Reserve System to promulgate regulations regarding interchange transaction fees and to amend the Truth in Le… Show full official titleShow less

Official title: To authorize the Board of Governors of the Federal Reserve System to promulgate regulations regarding interchange transaction fees and to amend the Truth in Lending Act to prohibit certain restrictions put in place by credit card networks.

Introduced: May 4, 2010 Introduced by: Welch, Peter Democratic · Vermont See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresBanking and financial institutions regulationConsumer creditFederal Reserve System
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Financial services and investmentsUser charges and fees
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 4, 2010
Referred to the House Committee on Financial Services.
May 4, 2010
Introduced in House
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 Latest action May 4, 2010

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

Electronic Check Parity Act of 2010 - Finds electronic debit transactions serve as a functional replacement for check transactions. Grants the Board of Governors of the Federal Reserve System authority to promulgate rules regarding any interchange transaction fee charged with respect to an electronic debit transaction. Permits the Board to exempt from such rules any financial institutions, including those regulated by the National Credit Union Administration (NCUA), that, together with affiliates, have assets of less than $1 billion.

Amends the Truth in Lending Act to prohibit a credit card network from inhibiting the ability of any person to: (1) set a minimum or maximum dollar value for such person's acceptance of any form of payment; or (2) offer a discount, benefit, or anything else of value to customers in order to create an incentive for them to pay such person using a form of payment that carries lower transaction fees or costs (limitation on credit card network restrictions).

Defines "credit card network"' as an entity that directly, or through licensed members, processors, or agents, provides the proprietary services, infrastructure, and software that route information and data to facilitate transaction authorization, clearance, and settlement that a person must access in order to accept a specific brand of general-purpose credit card as payment for goods or services.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 5199: Electronic Check Parity Act of 2010. 111th Congress. Open America. https://openamerica.io/bill/111-HR-5199/
MLA
"H.R. 5199: Electronic Check Parity Act of 2010." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-HR-5199/.
Bluebook (legal)
H.R. 5199, 111th Cong. (2026), https://openamerica.io/bill/111-HR-5199/.
Markdown link
[H.R. 5199: Electronic Check Parity Act of 2010](https://openamerica.io/bill/111-HR-5199/)
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