US HB1081 | 2011-2012 | 112th Congress

US Congress House Bill 1081 (Prior Session Legislation)

Status

Spectrum: Bipartisan Bill
Status: Introduced on March 15 2011 - 25% progression, died in committee
Action: 2011-04-04 - Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Pending: House Subcommittee on Financial Institutions and Consumer Credit Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Consumers Payment System Protection Act - Delays until one year after enactment of this Act any proposed or final rule issued under the authority of specified requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act governing interchange transaction (swipe) fees for electronic debit transactions (EDTs). Requires the Board of Governors of the Federal Reserve System and specified federal banking agencies jointly to study and report to Congress on the effect of such requirements upon consumers, card issuers, merchants, and financial institutions. Sets a deadline for the Board to make revisions to any proposed or final rule regarding such EDTs if at least two of the agencies contributing to such report determine that any one of the following is true: (1) either such requirements or the Board's proposed rule entitled "Debit Card Interchange Fees and Routing" does not encompass all costs and investments associated with debit card transactions; (2) consumers will be adversely affected by either the requirements or the proposed rule; or (3) the current exemption of small financial institutions (with less than $10 billion in assets) from such requirements, or as carried out by the proposed rule, is not effective in practice.

Title

Consumers Payment System Protection Act

Sponsors

Sen. Shelley Capito [R-WV]	Rep. Rodney Alexander [R-LA]	Rep. Justin Amash [R-MI]	Rep. Michele Bachmann [R-MN]
Rep. Roscoe Bartlett [R-MD]	Rep. Dan Benishek [R-MI]	Rep. Brian Bilbray [R-CA]	Rep. Jo Bonner [R-AL]
Rep. Larry Bucshon [R-IN]	Rep. Dan Burton [R-IN]	Rep. G. Butterfield [D-NC]	Rep. Francisco Canseco [R-TX]
Rep. John Carney [D-DE]	Rep. John Carter [R-TX]	Rep. Jason Chaffetz [R-UT]	Rep. Hansen Clarke [D-MI]
Rep. Mike Coffman [R-CO]	Rep. Gerald Connolly [D-VA]	Rep. Joe Courtney [D-CT]	Rep. Mark Critz [D-PA]
Rep. Joseph Crowley [D-NY]	Rep. Henry Cuellar [D-TX]	Rep. Susan Davis [D-CA]	Rep. Peter DeFazio [D-OR]
Rep. Diana DeGette [D-CO]	Rep. Charles Dent [R-PA]	Rep. Bob Filner [D-CA]	Sen. Jeff Flake [R-AZ]
Rep. Bill Flores [R-TX]	Rep. Virginia Foxx [R-NC]	Rep. Trent Franks [R-AZ]	Rep. Bob Gibbs [R-OH]
Rep. Trey Gowdy [R-SC]	Rep. Al Green [D-TX]	Rep. Alcee Hastings [D-FL]	Sen. Martin Heinrich [D-NM]
Rep. Jeb Hensarling [R-TX]	Rep. Wally Herger [R-CA]	Sen. Mazie Hirono [D-HI]	Rep. Tim Holden [D-PA]
Rep. Tim Huelskamp [R-KS]	Rep. Duncan Hunter [R-CA]	Rep. Henry Johnson [D-GA]	Rep. Jim Jordan [R-OH]
Rep. Mike Kelly [R-PA]	Rep. Dale Kildee [D-MI]	Rep. Larry Kissell [D-NC]	Rep. Doug Lamborn [R-CO]
Rep. Leonard Lance [R-NJ]	Rep. Jeffrey Landry [R-LA]	Rep. Rick Larsen [D-WA]	Rep. Robert Latta [R-OH]
Rep. Blaine Luetkemeyer [R-MO]	Sen. Ben Lujan [D-NM]	Rep. Kenny Marchant [R-TX]	Rep. Carolyn McCarthy [D-NY]
Rep. Tom McClintock [R-CA]	Rep. Mike McIntyre [D-NC]	Rep. Gregory Meeks [D-NY]	Rep. Michael Michaud [D-ME]
Rep. Candice Miller [R-MI]	Rep. Gary Miller [R-CA]	Rep. Jeff Miller [R-FL]	Rep. Gwen Moore [D-WI]
Rep. Mick Mulvaney [R-SC]	Rep. Grace Napolitano [D-CA]	Rep. Randy Neugebauer [R-TX]	Rep. Pete Olson [R-TX]
Rep. William Owens [D-NY]	Rep. Ron Paul [R-TX]	Rep. Ed Perlmutter [D-CO]	Sen. Gary Peters [D-MI]
Rep. Jared Polis [D-CO]	Rep. Nick Rahall [D-WV]	Rep. James Renacci [R-OH]	Rep. David Rivera [R-FL]
Rep. Edward Royce [R-CA]	Rep. C.A. Ruppersberger [D-MD]	Rep. John Sarbanes [D-MD]	Rep. Adam Schiff [D-CA]
Rep. David Scott [D-GA]	Rep. James Sensenbrenner [R-WI]	Rep. Pete Sessions [R-TX]	Rep. Brad Sherman [D-CA]
Rep. Albio Sires [D-NJ]	Rep. Adrian Smith [R-NE]	Rep. Marlin Stutzman [R-IN]	Rep. Lee Terry [R-NE]
Rep. Glenn Thompson [R-PA]	Rep. Mac Thornberry [R-TX]	Rep. Scott Tipton [R-CO]	Rep. Paul Tonko [D-NY]
Rep. Debbie Wasserman Schultz [D-FL]	Rep. Melvin Watt [D-NC]	Rep. Allen West [R-FL]	Rep. Frank Wolf [R-VA]
Rep. Rob Woodall [R-GA]	Rep. Lynn Woolsey [D-CA]	Rep. Don Young [R-AK]

History

Date	Chamber	Action
2011-04-04	House	Referred to the Subcommittee on Financial Institutions and Consumer Credit.
2011-03-15	House	Referred to the House Committee on Financial Services.