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.

1. Adds SEC. 9. POSTING INFORMATION ON THE INTERNET after section 8

   Adds a section

   Inserted: SEC. 9. POSTING INFORMATION ON THE INTERNET.

   Inserted: Section 122 of the Truth in Lending Act (U.S.C. 1632) is amended by adding at the end the following new subsection:

   Inserted: "(d) Internet Posting of Credit Card Agreements.--

   Inserted: "(1) Posting agreements.--A creditor shall establish and maintain an Internet site on which the creditor will post the written agreement between the creditor and the consumer for each open-end consumer credit plan not secured by a dwelling that has a credit card feature.

   Inserted: "(2) Providing copy of contracts to the board.--A creditor shall provide to the Board in electronic format, the consumer credit card agreements that the creditor publishes on the creditor's Internet site.

   Inserted: "(3) Record repository.--The Board shall establish and maintain on its publically available Internet site a central repository of the consumer credit card agreements received from the creditors pursuant to this subsection and such agreements shall be easily accessible and retrievable.

   Inserted: "(4) Exception.--Paragraphs (1) and (2) shall not apply to individually negotiated changes to contractual terms, such as individually-modified workouts or renegotiations of amounts owed by a consumer under an open end consumer credit plan.

   Inserted: "(5) Regulations.--The Board, in consultation with the other agencies described in section 108 and the Federal Trade Commission, may prescribe regulations to implement this subsection, including--

   Inserted: "(A) specifying the format for posting the agreements on the creditor's Internet site; and

   Inserted: "(B) establishing exceptions to paragraphs (1) and (2) in cases where the administrative burden outweighs the benefit of increased transparency, such as where a credit card plan has a de minimis number of consumer account holders".

   Original wording

   After section 8, insert the following new section (and redesignate the subsequent sections accordingly):

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

As printed