Consumer Debit Card Protection Act
Latest action · May 29, 2001 Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 14, 2001
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Limits to $50 any consumer liability for unauthorized electronic fund transfers where the relevant cards do not necessitate a unique identifier, such as a photograph, fingerprint, or retina scan. Conditions such liability upon timely notification to the consumer of liability for such transfers and of the advisability of prompt reporting of any loss, theft, or unauthorized use of a card code or other means of access.
Permits distribution to consumers of electronic fund transfer cards without unique identifiers only if certain validation requirements are met.
Mandates that any financial institution which issues consumer check cards maintain a 24-hour notification system which includes a toll-free telephone number at which personnel are continuously accessible to accept reports of theft, loss, or unauthorized use.
Prohibits consumer liability for fees for insufficient funds due to an unauthorized electronic fund transfer executed by the use of a card lacking a protective device to serve as a unique identifier of the rightful consumer. Requires prompt re-crediting of the consumer's account for any fee imposed before receipt of the consumer's notice of an unauthorized electronic fund transfer.
Cosponsors 18
Members who signed on, in the order they did. Signatures ran from May 23, 2001 to Feb 7, 2002.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MA | Barney Frank | May 23, 2001 | |
| D-MN | Bill Luther | May 23, 2001 | |
| D-MA | John F. Tierney | May 23, 2001 | |
| D-NY | Maurice D. Hinchey | May 23, 2001 | |
| D-TX | Ruben Hinojosa | May 23, 2001 | |
| D-WI | Tammy Baldwin | May 23, 2001 | |
| R-NY | Amo Houghton | Jun 13, 2001 | |
| D-CA | Barbara Lee | Jun 13, 2001 | |
| D-TN | Bob Clement | Jun 13, 2001 | |
| D-CA | Henry A. Waxman | Jun 13, 2001 | |
| D-ME | John Elias Baldacci | Jun 13, 2001 | |
| R-NY | John M. McHugh | Jun 13, 2001 | |
| D-IN | Julia Carson | Jun 13, 2001 | |
| D-MO | Wm. Lacy Clay | Jun 13, 2001 | |
| D-IL | Janice D. Schakowsky | Jun 28, 2001 | |
| D-CA | Lucille Roybal-Allard | Jun 28, 2001 | |
| D-MN | Martin Olav Sabo | Jun 28, 2001 | |
| D-NY | Nita M. Lowey | Feb 7, 2002 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred May 14, 2001 |
| Consumer Protection and Financial Institutions Subcommittee | Referred May 29, 2001 |
Actions 3
Everything that happened, newest first.
- May 29, 2001Referred to the Subcommittee on Financial Institutions and Consumer Credit.
- May 14, 2001Introduced in House
- May 14, 2001Referred to the House Committee on Financial Services.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Electronic Fund Transfer Act to safeguard consumers in connection with the utilization of certain debit cards.
- Short Titles as Introduced
- Consumer Debit Card Protection Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Bank accounts
- Checking accounts
- Commerce
- Consumer credit
- Consumer education
- Consumer protection
- Crime and Law Enforcement
- Debit cards
- Electronic funds transfers
- Fees
- Finance and Financial Sector
- Financial statements
- Identification devices
- Larceny
- Law
- Liability (Law)
- Science, Technology, Communications
- Telephone
Text 1
Each version as it was printed, newest first.
- May 14, 2001Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
