123STA T . 1 75 7 PUBLIC LA W 111 – 2 4—M A Y 22 , 2 0 0 9(b)CLERICA L AM E ND MEN T.—Theta b l e ofs e c t i o n sfo r cha p ter 2 of the Tr u th in L en d in g Actisa m ended b y inserting after the item relating to section 140 the follo w ing new item
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‘ 140A.Procedu re f or tim e lys ettleme n tofest a tes of decedent o b li g ors ’ .’’. SEC.50 5. R E PO R T TO CO NG RESS ON RE DU CT I ONS O F CONSU M ER CREDIT C A RD L IMITS B ASED ON CERTAIN INFORMATION ASTOE X PERIENCE OR TRANSACTIONS OF T H E CON - SUMER. (a) R E PO RT ON CREDITOR P RACTICE S RE QU IRED.— B efore the endofthe1 - year period beginning on the date of enactment of this Act , the Board, in consultation with the Comptroller of the Currency, the D irector of the O ffice of Thrift S uper v ision, the F ed- eral Deposit I nsurance Corporation, the N ational Credit U nion Administration Board, and the Federal Trade Commission, shall submit a report to the Committee on Financial Services of the H ouse of Representatives and the Committee on Ban k ing, Housing, and Urban Affairs of the Senate on the e x tent to which, during the 3 -year period ending on such date of enactment, creditors have reduced credit limits or raised interest rates applicable to credit card accounts under open end consumer credit plans based on— (1) the geographic location where a credit transaction with the consumer took place, or the identity of the merchant involved in the transaction
(2) the credit transactions of the consumer, including the type of credit transaction, the type of items purchased in such transaction, the price of items purchased in such transaction, any change in the type or price of items purchased in such transactions, and other data pertaining to the use of such credit card account by the consumer; and (3) the identity of the mortgage creditor which extended or holds the mortgage loan secured by the primary residence of the consumer. (b) OT H ER IN F ORMATION.—The report re q uired under subsection (a) shall also include— (1) the number of creditors that have engaged in the prac- tices described in subsection (a); (2) the extent to which the practices described in subsection (a) have an adverse impact on minority or low-income con- sumers; (3) any other relevant information regarding such practices; and (4) recommendations to the Congress on any regulatory or statutory changes that may be needed to restrict or prevent such practices. SEC. 50 6 . BOARD RE V IE W OF SMALL BUSINESS CREDIT PLANS AND RECOMMENDATIONS. (a) REQUIRED RE V IE W .—Not later than 9 months after the date of enactment of this Act, the Board shall conduct a review of the use of credit cards by businesses with not more than 5 0 employees (in this section referred to as ‘ ‘small businesses ’ ’) and the credit card market for small businesses, including— (1) the terms of credit card agreements for small businesses and the practices of credit card issuers relating to small businesses; Deadlin e .
