S.Amdt. 1102

SA 1102. Mr. MENENDEZ submitted an amendment intended to be proposed

[[Page S5447]]

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 10, line 25, strike ``rule.''.'' and insert ``rule.
``(c) Universal Default.--In the case of any credit card
account under an open end consumer credit plan, no creditor
may increase any annual percentage rate, fee, or finance
charge applicable to that account, based solely on a change
in the credit risk of the consumer due to a single event
relating to another account or other obligation of the
consumer.''.
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