Electronic Funds Transfer Equal Consumer Protection Act
Latest action · Jun 28, 2007 Referred to the House Committee on Financial Services.
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.
- IntroducedJun 28, 2007
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Electronic Funds Transfer Equal Consumer Protection Act - Amends the the Electronic Fund Transfer Act to treat as an error any electronic fund transfer affecting the customer's account regarding a transaction for goods or services not accepted by or not delivered to the customer, or not in accordance with the agreement made at the time of the transaction.
Redefines electronic fund transfer to cover any transaction initiated through an electronic terminal, telephonic instrument, or computer, including transactions initiated through the use of a check card or a debit card.
Revises requirements for a financial institution's discretionary provisional recredit of a consumer's account after receiving notice of an error. Makes such a provisional recredit mandatory, within one business day after receipt of such a notice.
Revises requirements for prompt resolution of errors to authorize a financial institution to require a consumer to submit written confirmation of an oral error notice before it recredits provisionally the consumer's account.
Cosponsors 16
Members who signed on, in the order they did. Signatures ran from Jun 28, 2007 to Jun 23, 2008; 12 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Barbara Lee | Original | Jun 28, 2007 |
| D-NY | Charles B. Rangel | Original | Jun 28, 2007 |
| D-NC | David E. Price | Original | Jun 28, 2007 |
| D-MO | Emanuel Cleaver | Original | Jun 28, 2007 |
| D-IL | Janice D. Schakowsky | Original | Jun 28, 2007 |
| D-WA | Jim McDermott | Original | Jun 28, 2007 |
| D-OH | Marcy Kaptur | Original | Jun 28, 2007 |
| D-MA | Michael E. Capuano | Original | Jun 28, 2007 |
| D-AZ | Raúl M. Grijalva | Original | Jun 28, 2007 |
| D-TX | Sheila Jackson Lee | Original | Jun 28, 2007 |
| D-TN | Steve Cohen | Original | Jun 28, 2007 |
| D-CA | Zoe Lofgren | Original | Jun 28, 2007 |
| D-IL | Luis V. Gutierrez | Jul 10, 2007 | |
| D-MD | Chris Van Hollen | Sep 5, 2007 | |
| D-OH | Dennis J. Kucinich | Oct 25, 2007 | |
| D-CA | Henry A. Waxman | Jun 23, 2008 |
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 Jun 28, 2007 |
Actions 2
Everything that happened, newest first.
- Jun 28, 2007Introduced in House
- Jun 28, 2007Referred 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 provide similar protections under that Act for consumers as apply under the Truth in Lending Act, and for other purposes.
- Short Titles as Introduced
- Electronic Funds Transfer Equal Consumer Protection Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Jun 28, 2007Introduced 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.
