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To amend the Truth in Lending Act to prohibit unfair practices in electronic payment system networks, and for other purposes. 6/11/2008--Introduced. Credit Card Interchange Fees Act of 2008 - Amends the Truth in Lending Act to prohibit specified electronic payment system network practices, including the imposition of: (1) additional charges on merchants and consumers for premium payment cards; (2) certain restrictions on merchants, including chargebacks for transactions on point of sale terminals that exceed the allowable amount on such devices; (3) restrictions upon network routing; and (4) fees for failure of the merchant to provide a particular number of transactions. Requires an electronic payment system network to disclose its contract terms to the merchant, including its complete operating rules, without restricting the merchant's use of such information. Directs the Federal Trade Commission (FTC) to prescribe regulations to: (1) ensure that the rules,[...]

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Latest Actions
  • 06/11/2008 - Referred to the House Committee on Financial Services.
Bill Text
File name Last Updated
H.R.6248 Introduced in House06/14/2008