The Congressional activity to pass the Credit CARD Act of 2009, P.L. 111-24, addresses issues related to personal credit card holders. In addition to this the Act contains a number of provisions that require reports (there are a few amendments to laws as well).
Many of the provisions were sponsored by Republicans.
I summarize the miscellaneous provisions below.
Credit CARD Act of 2009, P.L. 111-24. Date of enactment: 5/22/09.
Title V—Miscellaneous Provisions
|Title of provision||Responsible agency||Due date|
|Sec. 501 Report on Interchange Fees [description]||Government Accountability Office (GAO)||180 days after enactment [11/16/09]Published: 11/19/09 (http://www.gao.gov/products/GAO-10-45)|
|Sec. 502 Review of Consumer Credit Plans and Regulations [description]||Federal Reserve Board (FRB)(sec. 502(c)—federal banking agencies [sec 3 of the FDIA] and the Federal Trade Commission (FTC)||Every two years [5/22/10]|
|Sec. 503 Stored Value [description], [description]||Treasury, Homeland Security||270 days after enactment [2/17/10 (approximately)]|
|Sec. 504 Procedure for Timely Settlement of Estates of Decedent Obligors [amendment to Truth in Lending Act, sec. 140A (new)] [description]||FRB|
|Sec. 505 Report to Congress on Reductions of Credit Card Limits Based on Certain Information as to Experience or Transactions of the Consumer [description]||FRB (in consultation with the Office of the Comptroller of the Currency (OCC), Office of Thrift Supervision (OTS), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration Board (NCUA), and the FTC)||Before the end of the one-year period beginning on the date of enactment [5/21/10]|
|Sec. 506 Board Review of Small Business Credit Plans and Recommendations [description]||FRB||For the review, not later than nine months after the date of enactment [2/22/10]For the report, not later than 12 months after the date of enactment [5/22/10]|
|Sec. 507 Small Business Information Security Task Force [description]||Small Business Administration (SBA) and Homeland Security||For meeting minutes, not later than 60 days after Administrator receives the minutes, the Administrator submits the minutes to the House and Senate, the Administrator submits the minutes to the House and SenateFor findings at the termination of the task force, not later than 90 days after Administrator receives the findings, the Administrator submits the findings to the House and Senate.The task force terminates at the end of fiscal year 2013 [9/30/13]|
|Sec. 508 Study and Report on Emergency PIN Technology||FTC (with the Justice Department, and the Secret Service)||Not later than nine months after the date of enactment [2/22/10]|
|Sec. 509 Study and Report on the Marketing of Products with Credit Offers [description]||GAO||Not later than 12/31/10|
|Sec. 510 Financial and Economic Literacy [description]||Department of Education and the Treasury (Office of Financial Education (with the President’s Council on Financial Literacy))||For report, not later than nine months after the date of enactment [2/22/10]For strategic plan, not later than six months after the date the report is submitted to Congress|
|Sec. 511 FTC Rulemaking on Mortgage Lending (amendment) [description]||FTC||Amendment effective 3/12/09|
|Sec. 512 Protecting Americans from Violent Crime [description] (represents findings of Congress)|
|Sec. 513 GAO Study and Report on Fluency in the English Language and Financial Literacy [description]||GAO||Not later than one year after the date of enactment [5/22/10]|