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Saturday, March 20, 2010

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Home > Payment Cards Center > Legislative Update

Legislative Update

Legislative Update summarizes and updates pending payment cards legislation, regulation, and judicial activity at the federal level and for the Third District states of Pennsylvania, New Jersey, and Delaware.

October – December 2009

Financial Reform Bills

• Consumer Financial Protection Agency Act

Federal Regulation

The Board of Governors of the Federal Reserve

• Final Rule Requires Debit Card Users to Opt-In to Overdraft Protection
• Proposed Rule to Restrict Fees on Gift Cards
• Final Rule on Risk-Based Pricing Notice

Judicial Rulings

Circuit Court Rulings

• Plaintiffs Must Prove Detrimental Reliance to Recover Actual Damages Under TILA

July – September 2009

Federal Regulation

Board of Governors of the Federal Reserve

• Proposed Changes in Disclosure Requirements for Mortgages and HELOCs
• Proposed Consumer Credit Card Protections

Federal Trade Commission

• Proposed Rule to Amend Telemarketing Sales Rule to Address Debt Relief Services

Judicial Rulings

Tax Court Rulings

• Credit Card Interchange Fees Ruled to Be a Form of Interest for Tax Purposes