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House Proceeding 04-30-09 on Apr 30th, 2009 :: 0:02:15 to 0:06:20
Total video length: 2 hours 32 minutes Stream Tools: Stream Overview | Edit Time

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Luis V. Gutierrez

0:02:11 to 0:02:31( Edit History Discussion )

Luis V. Gutierrez: a substitute printed in the bill shall be considered as the original bill for the purpose of andment under the five-minute rule and shall be considered as read. no amendment to the committee amendment is in order except for those printed in house report 111-92. each amendment may be offered only in the order printed in the report by a member designated in the report, shall be considered as read, shall

Luis V. Gutierrez

0:02:15 to 0:06:20( Edit History Discussion )
Speech By: Luis V. Gutierrez

Luis V. Gutierrez

0:02:32 to 0:02:53( Edit History Discussion )

Luis V. Gutierrez: debatable for the time specified in the report, equally divided and controlled by a proponent and an opponent, shall not be subject to amendment and shall not be subject for demand of the question. it is now in order to consider amendment number 1 printed in house report 111-92. for what purpose does the

Luis V. Gutierrez

0:02:54 to 0:03:14( Edit History Discussion )

Luis V. Gutierrez: gentleman from illinois rise? amendment made in order under the rule. the chair: the clerk will designate the amendment. the clerk: amendment number 1 prind in house report 111-92 offered by mr. gutierrez of illinois. the chair: pursuant to house resolution 397, the gentleman from illinois, mr. gutierrez, and a member op control 10 minutes. the chair recognizes the gentleman from illinois.

Luis V. Gutierrez

0:03:15 to 0:03:36( Edit History Discussion )

Luis V. Gutierrez: mr. gutierrez: i yield myself 3 1/2 minutes. the chair: the gentleman is recognized for 3 1/2 minutes. mr. gutierrez: madam chair, this amendment has issues that are believed to be noncontroversial. which will not charge consumers who choose to pay their bill by phone, over the internet or by

Luis V. Gutierrez

0:03:37 to 0:03:57( Edit History Discussion )

Luis V. Gutierrez: other means of electronic funds transfer. it will allow credit card companies to c for expedited payments when they request such an expedited payment. in current practice, many credit card insurers charges customers a substantial fee to pay their bill over the phone or online.

Luis V. Gutierrez

0:03:58 to 0:04:18( Edit History Discussion )

Luis V. Gutierrez: these pay-to-pay fees are assessed regardless whether a customer's payment is made on time. pay-to-pay fees don't exist to recoup the cost incurred through processing phone or online payments . processing an electronic payment certainly does not cost as much as $15 fee which some credit card co their customers.

Luis V. Gutierrez

0:04:19 to 0:04:40( Edit History Discussion )

Luis V. Gutierrez: this bill would end the discrimination against payment methods by prohibiting the companies from charging a consumer to pay their bill. this amendment retains that provision -- prohibition but permits an excepti to the ban when the consumer wishes to have the convenience of an expedited payment. this would include any expedited payments made by the consumers within 24 hours of

Luis V. Gutierrez

0:04:41 to 0:05:01( Edit History Discussion )

Luis V. Gutierrez: when the bill is due. want to thank mr. ackerman for his efforts in getting the pay-to-pay prohibition added to the bill and for working with the bipartisan compromise to carve out expedited payments from the ban. i also want to thank the gentleman from delaware, mr. castle, for his work on this compromise.

Luis V. Gutierrez

0:05:02 to 0:05:22( Edit History Discussion )

Luis V. Gutierrez: this amendment contains several other provisions including a provision drafted by mr. hastings directing the federal reserve to suggest appropriate guidelines for creditors to provide consumers with information regarding the availability of credit counseling services. a provision sponsored by mr. castle, requires that all credit card offers notify

Luis V. Gutierrez

0:05:23 to 0:05:45( Edit History Discussion )

Luis V. Gutierrez: prospective applicants that credit card applications can adversely affect their credit rating, a provision authored by the lady from new york, congresswoman slaughter, to require all written information in terms in any application so the solicitation or contract or agreement for credit card account to appear no less than 12.5 and a provision sponsored by mr. weiner requiring stores

Luis V. Gutierrez

0:05:46 to 0:06:08( Edit History Discussion )

Luis V. Gutierrez: that are self-insurance of credit cards to display a large visible sign at counters with the same information that is required to be disclosed on the credit card information. i urge my colleagues to support thismendment. the chair: the gentleman's time is reserved. for what purpose does the gentleman from texas rise? >> claim time in opposition but

Luis V. Gutierrez

0:06:09 to 0:06:20( Edit History Discussion )

Luis V. Gutierrez: i'm not opposed to the amendment. the chair: the gentleman is recognized for five minutes. mr. neugebauer: i want to thank the gentleman. we had a tremendous amount of discussion about the pay-to-pay provision in this bill.

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