February 9, 2001
Mr. President:
Your CORPORATIONS & TRANSPORTATION COMMITTEE, to whom has been referred
has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:
1. On page 2, between lines 3 and 4, add the following:
Section 2. A new section of the Credit Card Act is enacted to read:
"[NEW MATERIAL] DISCLOSURE REQUIREMENT.--A card issuer shall provide a truth in lending statement to the cardholder at the time the credit card is issued.
Section 3. A new section of the Credit Card Act is enacted to read:
"[NEW MATERIAL] EFFECTIVE DATE.--The effective date of the provisions of this act is January 1, 2002.",
and thence referred to the JUDICIARY COMMITTEE.
Respectfully submitted,
__________________________________
Roman M. Maes, III, Chairman
Adopted_______________________ Not Adopted_______________________
(Chief Clerk) (Chief Clerk)
Date ________________________
The roll call vote was 5 For 1 Against
Yes: 5
No: Snyder
Excused: Hurt, Robinson, Sanchez, B.
Absent: None
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