On motion to adjourn Agreed to by voice vote.

Mr. King (IA) moved that the House do now adjourn.

Mr. Tiahrt requested that Mr. Burton of IN be allowed to address the House for 5 minutes on May 6.

Mr. Tiahrt requested that Mr. Burton of IN be allowed to address the House for 5 minutes on May 5.

Mr. Tiahrt requested that Mr. Burton of IN be allowed to address the House for 5 minutes on May 4.

Potential Creation of a National Museum of the American Latino - Pursuant to Section 333(a)(2) of the Consolidated Natural Resources Act of 2008 (P.L. 110-229), the Minority Leader appointed Mr. Nelson Albareda of Miami, Florida .

H.R. 627:

to amend the Truth in Lending Act to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan, and for other purposes

Motion to reconsider laid on the table Agreed to without objection.

On passage Passed by recorded vote: 357 - 70 (Roll no. 228).

Mr. Roskam moved to recommit with instructions to Financial Services.

The previous question was ordered pursuant to the rule.

On agreeing to the Maloney amendment Agreed to by recorded vote: 284 - 149 (Roll no. 226).

Amendment offered by Mr. Schock.

An amendment numbered 17 printed in House Report 111-92 to allow consumers who have not activated an issued credit card within 45 days, to contact the issuing institution to cancel the card and have it removed from their credit report entirely. If after 45 days the card has not been activated it is automatically removed from any such report.

On agreeing to the Teague amendment Agreed to by voice vote.

Amendment offered by Mr. Teague.

An amendment numbered 16 printed in House Report 111-92 to restrict credit card issuers from making adverse reports to credit rating agencies regarding deployed military service members and disabled veterans during the first two years of their disability.

Amendment offered by Mr. Schauer.

An amendment numbered 15 printed in House Report 111-92 to require creditors to post their credit card written agreements on their websites, and requires the Board to compile and report those agreements on its website.

On agreeing to the Perriello amendment Agreed to by voice vote.

Amendment offered by Mr. Perriello.

An amendment numbered 14 printed in House Report 111-92 to require a 6-month period for a promotional rate for credit cards before the standard rate may be increased.

Amendment offered by Mr. Gutierrez.

An amendment numbered 13 printed in House Report 111-92 to require card issuers to notify cardholders 30 days before closing their accounts, the reason for the account closure, options to keep the account open, programs available to repay the balance, and the resulting impact on their credit score.

Amendment offered by Mr. Price (NC).

An amendment numbered 12 printed in House Report 111-92 to require credit card issuers to provide enhanced disclosure to consumers regarding minimum payments, including a written Minimum Payment Warning statement on all monthly statements as well as information regarding the monthly payment amount and total cost that would be required for the consumer to eliminate the outstanding balance in 12, 24 and 36. Would require credit card issuers to provide a toll-free telephone number at which the consumer may receive information about accessing credit counseling and debt management services.

On agreeing to the Minnick amendment Agreed to by voice vote.

Amendment offered by Mr. Minnick.

An amendment numbered 11 printed in House Report 111-92 to provide that the amount of a balance as of the 7-day mark, instead of the 14-day mark, following a notice of a rate increase would be protected from the rate increase.

On agreeing to the Hensarling amendment Failed by voice vote.

An amendment numbered 10 printed in House Report 111-92 to allow creditors to use retroactive rate increases, universal default, and "double cycle billing" practices as long as they offer at least one card option that does not have those billing features to all of their existing customers.

On agreeing to the Hensarling amendment Failed by voice vote.

Amendment offered by Mr. Hensarling.

An amendment numbered 9 printed in House Report 111-92 to allow issuers to raise rates on existing balances if they provide consumers clear notification 90 days in advance, provided that the issuer has previously specified this ability to consumers in their contract and at least once every year thereafter.

Amendment offered by Mrs. Maloney.

An amendment numbered 8 printed in House Report 111-92 to require credit cardholders to opt-into receiving over-the-limit protection on their credit card in order for a credit card company to charge an over-the-limit fee. Allows for transactions that go over the limit to be completed for operational reasons as long as they are of a de minimis amount, but the credit card company is not allowed to charge a fee.

On agreeing to the Jones amendment Agreed to by voice vote.

Amendment offered by Mr. Jones.

An amendment numbered 7 printed in House Report 111-92 to require the Federal Reserve Board, in consultation with the Federal Trade Commission and other agencies, to establish regulations that would allow estate administrators to resolve outstanding credit balances in a timely manner.

Amendment offered by Mr. Polis (CO).

An amendment numbered 6 printed in House Report 111-92 to clarify that minors are allowed to have a credit card in their name on their parent or legal guardian's account.

Amendment offered by Ms. Pingree (ME).

An amendment numbered 5 printed in House Report 111-92 to require the Chair of the Federal Reserve to submit a report on the level of implementation of this bill every 90 days until the Chair can report full industry implementation.

On agreeing to the Gutierrez amendment Agreed to by voice vote.

Amendment offered by Mr. Gutierrez.

An amendment numbered 4 printed in House Report 111-92 to require credit card issuers to allocate payments in excess of the minimum payment to the portion of the remaining balance with the highest outstanding APR first, and then to any remaining balances in descending order, eliminating the pro rata option.

An amendment numbered 3 printed in House Report 111-92 to set underwriting standards for students' credit cards, including limiting credit lines to the greater of 20 percent of a student's annual income or $500, without a co-signer and requiring creditors to obtain a proof of income, income history, and credit history from college students before approving credit applications.

On agreeing to the Frank (MA) amendment Agreed to by voice vote.

An amendment numbered 2 printed in House Report 111-92 to require the Federal Reserve 1) to review the consumer credit card market, including through solicitation of public comment, and report to Congress every two years; 2) publish a summary of this review in the Federal Register, along with proposed regulatory changes (or an explanation for why no such changes are proposed). The amendment also requires the Federal banking agencies and the FTC to submit to the Federal Reserve, for inclusion in the Federal Reserve's annual report to Congress, information about the agencies' supervisory and enforcement activities related to credit card issuers' compliance with consumer protection laws.

An amendment numbered 1 printed in House Report 111-92 to allow issuers to charge consumers for expedited payments by telephone when consumers request such an expedited payment, and would make technical corrections; would require that all credit card offers notify prospective applicants that excessive credit applications can adversely affect their credit rating; would direct the Board of Governors of the Federal Reserve to suggest appropriate guidelines for creditors to supply cardholders with information regarding the availability of legitimate and accredited credit counseling services; would require all written information, provisions, and terms in or on any application, solicitation, contract, or agreement for any credit card account under an open end consumer credit to appear in no less than 12 point font; and would require that stores who are self-issuers of credit cards display a large visible sign at counters with the same information that is required to be disclosed on the application itself.

FURTHER CONSIDERATION OF H.R. 627 - Pursuant to the provisions of H.Res. 379, the Committee of the Whole resumed consideration of H.R. 627 and the amendments made in order thereto by the rule.

The House resolved into Committee of the Whole House on the state of the Union for further consideration.

Considered as unfinished business.

H. Res. 379:

providing for further consideration of the bill ( H.R. 627) to amend the Truth in Lending Act to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan, and for other purposes

On agreeing to the resolution Agreed to by the Yeas and Nays: 249 - 175 (Roll no. 224).

UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question of adoption of H.Res. 379, which had been debated earlier and on which further proceedings had been postponed.

H. Res. 381:

electing Members to certain standing committees of the House of Representatives

On agreeing to the resolution Agreed to by voice vote.

Considered as privileged matter.

H. Res. 379:

providing for further consideration of the bill ( H.R. 627) to amend the Truth in Lending Act to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan, and for other purposes

The previous question was ordered without objection.

Considered as privileged matter.

PLEDGE OF ALLEGIANCE - The Chair designated Mr. Hall of NY to lead the Members in reciting the Pledge of Allegiance to the Flag.

The Speaker announced approval of the Journal. Pursuant to clause 1, rule I, the Journal stands approved.

The House convened, starting a new legislative day.