S.Amdt. 1095

SA 1095. Mr. LEVIN submitted an amendment intended to be proposed to
amendment SA 1058 proposed by Mr. Dodd (for himself and Mr. Shelby) to
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; which was
ordered to lie on the table; as follows:

On page 14, line 12, after ``transaction.'' insert the
following:
``(7) Restriction on fees charged for an over-the-limit
transaction.--With respect to a credit card account under an
open end consumer credit plan, an over-the-limit fee may be
imposed only once during a billing cycle if, on the last day
of such billing cycle, the credit limit on the account is
exceeded, and an over-the-limit fee, with respect to such
excess credit, may be imposed only once in each of the 2
subsequent billing cycles, unless the consumer has obtained
an additional extension of credit in excess of such credit
limit during any such subsequent cycle or the consumer
reduces the outstanding balance below the credit limit as of
the end of such billing cycle.''.
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