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.

1. Inserts new text after section 127B(c) of the Truth in Lending Act (as added by section 2(c) of the bill)

   Inserts

   Inserted: (d) Advance Notice of Account Closure.--

   Inserted: (1) In general.--In the case of any credit card account under an open end consumer credit plan, a creditor may not close such account unless the creditor provides a written notice to the consumer at least 30 days before the closure takes place, and which notifies the consumer-- (A) of the reason the account is being closed; (B) of any recourse that the consumer may take to prevent the account from being closed; (C) of any program under which the consumer may repay the balance on the account over a period of time; and

   Inserted: (D) that if the consumer's account is closed, it may have an impact on the consumer's credit score.

   Inserted: (2) Exception.--The requirements of paragraph (1) shall not apply in the case of a consumer request that the creditor close such account.

   Original wording

   Insert after section 127B(c) of the Truth in Lending Act (as added by section 2(c) of the bill) the following new subsection (and redesignate succeeding subsections accordingly):

Read automatically from the Congressional Record. Check the original before relying on it.

As printed