H.R.2695 - Credit Card Fair Fee Act of 2009111th Congress (2009-2010)
|Sponsor:||Rep. Conyers, John, Jr. [D-MI-14] (Introduced 06/04/2009)|
|Committees:||House - Judiciary|
|Latest Action:||House - 04/28/2010 Committee Hearings Held. (All Actions)|
This bill has the status Introduced
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Summary: H.R.2695 — 111th Congress (2009-2010)All Information (Except Text)
Introduced in House (06/04/2009)
Credit Card Fair Fee Act of 2009 - Sets forth a limited antitrust immunity to providers of covered electronic payment systems and merchants for negotiation of access rates and terms. Authorizes providers of a single covered electronic payment system (e.g. credit cards and/or debit cards) and merchants to jointly negotiate and agree upon rates and terms for access to such system. Provides immunity exceptions.
Requires the rates and terms of a voluntarily negotiated access agreement to be the same for all merchants and participating providers, regardless of their respective category or volume of transactions.
Requires issuers, acquirers, owners, and merchants to make specified disclosures regarding itemized costs and access agreements.
Requires the negotiating parties to file jointly with the Attorney General any voluntarily negotiated access agreement that affects any market in the United States or elsewhere.