Overdraft Protection Act of 2009
Latest action · Oct 22, 2009 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.
- IntroducedOct 22, 2009
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Overdraft Protection Act of 2009 - Amends the Truth in Lending Act to prohibit a depository institution from engaging in unfair or deceptive acts or practices in connection with overdraft coverage, or in acts designed to evade the provisions of this Act.
Requires each depository institution that provides overdraft coverage for transaction accounts to clearly and conspicuously disclose overdraft coverage fees.
Subjects overdraft coverage fees to the consumer's written, electronic, or other consent.
Requires a depository institution to provide specified consumer disclosures regarding its overdraft protection program, including: (1) periodic statements for any transaction account that has an overdraft coverage program feature; and (2) prompt notification of the account's overdraft status.
Prescribes overdraft coverage fee limits.
Prohibits an overdraft coverage fee if the overdraft results solely from a debit hold amount that exceeds the actual dollar amount of the transaction.
Requires a depository institution to provide consumers who have not consented to participate in an overdraft coverage program transaction accounts with the same terms as those provided to consumers who have consented to participate in such program.
Prohibits a depository institution from charging a non-sufficient fund fee for any transaction at an automated teller machine, or a debit card transaction.
Prohibits a depository institution from reporting negative information regarding consumer use of overdraft coverage to any consumer reporting agency when the overdraft amounts and coverage fees are paid under the terms of an overdraft coverage program.
Cosponsors 64
Members who signed on, in the order they did. Signatures ran from Oct 22, 2009 to Mar 12, 2010; 14 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Anna G. Eshoo | Original | Oct 22, 2009 |
| D-MA | Barney Frank | Original | Oct 22, 2009 |
| D-NC | Brad Miller | Original | Oct 22, 2009 |
| D-NY | Daniel B. Maffei | Original | Oct 22, 2009 |
| D-NY | Gary L. Ackerman | Original | Oct 22, 2009 |
| D-WI | Gwen Moore | Original | Oct 22, 2009 |
| D-CA | Jackie Speier | Original | Oct 22, 2009 |
| D-MN | Keith Ellison | Original | Oct 22, 2009 |
| D-IL | Luis V. Gutierrez | Original | Oct 22, 2009 |
| D-CA | Maxine Waters | Original | Oct 22, 2009 |
| D-MA | Michael E. Capuano | Original | Oct 22, 2009 |
| D-PA | Paul E. Kanjorski | Original | Oct 22, 2009 |
| D-NH | Paul W. Hodes | Original | Oct 22, 2009 |
| R-NC | Walter B. Jones | Original | Oct 22, 2009 |
| D-NY | Anthony D. Weiner | Oct 28, 2009 | |
| D-MD | Chris Van Hollen | Oct 28, 2009 | |
| D-OH | Dennis J. Kucinich | Oct 28, 2009 | |
| D-CA | Diane E. Watson | Oct 28, 2009 | |
| D-NY | Edolphus Towns | Oct 28, 2009 | |
| D-MD | Elijah E. Cummings | Oct 28, 2009 | |
| D-IL | Janice D. Schakowsky | Oct 28, 2009 | |
| D-MI | John D. Dingell | Oct 28, 2009 | |
| D-MA | John F. Tierney | Oct 28, 2009 | |
| D-OH | Marcy Kaptur | Oct 28, 2009 | |
| D-HI | Neil Abercrombie | Oct 28, 2009 | |
| D-NJ | Rush Holt | Oct 28, 2009 | |
| D-MA | Stephen F. Lynch | Oct 28, 2009 | |
| D-NY | Steve Israel | Oct 28, 2009 | |
| D-MO | Wm. Lacy Clay | Oct 28, 2009 | |
| D-MA | John W. Olver | Oct 29, 2009 | |
| D-CA | Linda T. Sánchez | Oct 29, 2009 | |
| D-OH | Betty Sutton | Nov 3, 2009 | |
| D-CA | Judy Chu | Nov 3, 2009 | |
| D-TX | Al Green | Nov 5, 2009 | |
| D-FL | Alcee L. Hastings | Nov 5, 2009 | |
| D-MS | Bennie G. Thompson | Nov 5, 2009 | |
| D-MI | Carolyn C. Kilpatrick | Nov 5, 2009 | |
| D-TX | Ciro D. Rodriguez | Nov 5, 2009 | |
| D-KS | Dennis Moore | Nov 5, 2009 | |
| D-NJ | Donald M. Payne | Nov 5, 2009 | |
| D-CA | Doris O. Matsui | Nov 5, 2009 | |
| D-TX | Eddie Bernice Johnson | Nov 5, 2009 | |
| D-MO | Emanuel Cleaver | Nov 5, 2009 | |
| D-NC | G. K. Butterfield | Nov 5, 2009 | |
| D-IL | Jesse L. Jackson, Jr. | Nov 5, 2009 | |
| D-MI | John Conyers, Jr. | Nov 5, 2009 | |
| D-CA | Laura Richardson | Nov 5, 2009 | |
| D-IL | Phil Hare | Nov 5, 2009 | |
| D-MI | Sander M. Levin | Nov 5, 2009 | |
| D-TX | Sheila Jackson Lee | Nov 5, 2009 | |
| D-TX | Silvestre Reyes | Nov 5, 2009 | |
| D-TN | Steve Cohen | Nov 5, 2009 | |
| D-OH | Tim Ryan | Nov 5, 2009 | |
| D-DC | Eleanor Holmes Norton | Nov 6, 2009 | |
| D-VA | James P. Moran | Nov 16, 2009 | |
| D-NY | Jose E. Serrano | Nov 16, 2009 | |
| D-NY | Nita M. Lowey | Nov 16, 2009 | |
| D-CA | Susan A. Davis | Nov 16, 2009 | |
| D-IL | Bill Foster | Nov 19, 2009 | |
| D-MI | Mark H. Schauer | Dec 1, 2009 | |
| D-NY | John J. Hall | Dec 8, 2009 | |
| D-CA | Zoe Lofgren | Dec 8, 2009 | |
| D-CA | Henry A. Waxman | Mar 11, 2010 | |
| D-IL | Danny K. Davis | Mar 12, 2010 |
Withdrew 2 Ruben Hinojosa D-TX Nov 17, 2009·David Loebsack D-IA Nov 19, 2009
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 Oct 22, 2009 |
Actions 2
Everything that happened, newest first.
- Oct 22, 2009Introduced in House
- Oct 22, 2009Referred to the House Committee on Financial Services.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Extensions | Debate and remarks E2794 | Kendrick B. Meek D-FL | Nov 18, 2009 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 111-89 | THE OVERDRAFT PROTECTION ACT OF 2009192 pages | Financial Services Committee | Oct 30, 2009 |
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| RS22874 | Overdraft/Bounced-Check Protection Archived | Report | Dec 17, 2009 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1799 | FAIR Overdraft Coverage Act | Related bill | Nov 17, 2009 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Truth in Lending Act to establish fair and transparent practices related to the marketing and provision of overdraft coverage programs at depository institutions, and for other purposes.
- Short Titles as Introduced
- Overdraft Protection Act of 2009
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Oct 22, 2009Introduced 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.
