S.Amdt. 1110

SA 1110. Mr. AKAKA 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 27, strike line 3 and all that follows through page
30, line 12 and insert the following:
(c) Guidelines Required.--
(1) In general.--Not later than 6 months after the date of
enactment of this Act, the Board shall issue guidelines, by
rule, in consultation with the Secretary of the Treasury, for
the establishment and maintenance by creditors of a toll-free
telephone number for purposes of providing information about
accessing credit counseling and debt management services, as
required under section 127(b)(11)(B)(iv) of the Truth in
Lending Act, as added by this section.
(2) Approved agencies.--Guidelines issued under this
subsection shall ensure that referrals provided by the toll-
free number referred to in paragraph (1) include only those
nonprofit budget and credit counseling agencies approved by a
United States bankruptcy trustees pursuant to section 111(a)
of title 11, United States Code.

____________________