S.Amdt. 3770

SA 3770. Mr. DURBIN submitted an amendment intended to be proposed to
amendment SA 3739 proposed by Mr. Reid (for Mr. Dodd (for himself and
Mrs. Lincoln)) to the bill S. 3217, to promote the financial stability
of the United States by improving accountability and transparency in
the financial system, to end ``too big to fail'', to protect the
American taxpayer by ending bailouts, to protect consumers from abusive
financial services practices, and for other purposes; which was ordered
to lie on the table; as follows:

At the end of title X, add the following:

Subtitle I--Fair Credit Card Fees

SEC. 1121. SHORT TITLE.

This subtitle may be cited as the ``Fair Credit Card Fees
for Taxpayer Dollars Act of 2010''.

SEC. 1122. DEFINITIONS.

(a) Payment Card Network.--For purposes of this subtitle,
the term ``payment card network'' means an entity that
directly, or through licensed members, processors, or agents,
provides the proprietary services, infrastructure, and
software that route information and data to conduct
transaction authorization, clearance, and settlement, and
that a person is required to access in order to accept as a
form of payment a specific brand of accepted card, or other
means of access, including a debit card, credit card, or
other device that may be used to carry out debit or credit
transactions.
(b) Federal Entity.--For purposes of this subtitle, the
term ``Federal entity'' means any Federal agency, department,
bureau, government corporation, or designated Federal entity,
as that term is defined in section 8G of the Inspector
General Act (5 U.S.C. App.).

SEC. 1123. FAIR FEES FOR FEDERAL GOVERNMENT ACCEPTANCE OF
PAYMENT CARDS.

In any transaction in which a Federal entity accepts, as
payment for the sale of goods or services or for revenue
collection, a particular credit card, debit card, or similar
payment device bearing the logo of a payment card network,
the payment card network shall not establish rates for
interchange fees or other fees involved in the transaction
that are higher than the lowest fee rates established by that
payment card network for any other transaction involving that
same credit card, debit card, or similar payment device.

SEC. 1124. REPORTING REQUIREMENT.

If a credit card, debit card, or similar payment device
bearing the logo of a payment card network is accepted by any
Federal entity as payment for the sale of goods or services
or for revenue collection, the payment card network shall
provide information on at least an annual basis to the
Secretary demonstrating that the rates for the interchange
fees and other fees established by the payment card network
for transactions involving Federal entities are no higher
than the lowest rates established by that payment card
network for any other transaction involving that same credit
card, debit card, or similar payment device.

SEC. 1125. ENFORCEMENT.

(a) Unfair or Deceptive Act or Practice.--Any failure to
comply with the provisions of this subtitle shall be treated
as a violation of a rule defining an unfair or deceptive act
or practice described under section 18(a)(1)(B) of the
Federal Trade Commission Act (15 U.S.C. 57a(a)(1)(B)).
(b) Actions by the Federal Trade Commission.--The Federal
Trade Commission shall enforce the provisions of this
subtitle in the same manner, by the same means, and with the
same jurisdiction, powers, and duties as though all
applicable terms and provisions of the Federal Trade
Commission Act (15 U.S.C. 41 et seq.) were incorporated into
and made part of this subtitle.
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