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H.R. 5383: Credit Card Accountability Responsibility and Disclosure Act of 2006

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H.R. 5383: Credit Card Accountability Responsibility and Disclosure Act of 2006

109th Congress · introduced 2006-05-11 · Finance and Financial Sector · Latest: Sponsor introductory remarks on measure. (CR H6023, E1585)

federal

Follow this bill, step by step

  1. Where it came from: introduced 2006-05-11 · official record
  2. Who proposed it: Rep. Udall, Mark [D-CO-2] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Sponsor introductory remarks on measure. (CR H6023, E1585) Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Credit Card Accountability Responsibility and Disclosure Act of 2006

Plain summary

Credit Card Accountability Responsibility and Disclosure Act of 2006, or the Credit CARD Act of 2006 - Amends the Truth in Lending Act to require advance notice of any increase in the annual percentage rate (APR) of interest pertaining a credit card account under an open end consumer credit plan. Imposes a freeze on interest rate terms and fees on canceled cards. Prohibits: (1) penalties for on-time payments; and (2) over-the-limit fees for creditor-approved transactions. Requires disclosure of: (1) the repayment information applicable to the outstanding balance; and (2) late payment deadlines, postmark dates, and any increase in interest rates for late payments. Increases the civil penalty against any creditor who fails to comply with specified requirements in the case of an individual action relating to an open end credit plan that is not secured by real property or a dwelling. Prohibits issuance of: (1) a credit card under an open end credit plan on behalf of a consumer who has not attained the age of 21, unless the consumer has submitted a written application meeting specified requirements; or (2) certain affinity cards to students unless certain requirements have been met.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Credit Card Accountability Responsibility and Disclosure Act of 2006

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Udall, Mark [D-CO-2] · 8 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Ed Case (D-HI)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

Record fed-us-cong109-hr5383 · catalog fed-us-congress-bills-cong109 · updated 2026-11-15 by psicol fed-bills-cong109