DEBIT HOLD LIMIT
Summary
Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that, in any transaction in which an individual authorizes a person or entity to make a debit from his or her bank account for the purpose of placing a hold on the account to ensure payment for future services, the person or entity must provide the individual with a written statement that includes a reasonable price quote for the transaction. Prohibits the person or entity from debiting the individual's bank account in an amount greater than the price quoted on the written statement unless, at the time services are complete, the amount actually incurred by the individual exceeds the amount of the quoted price. Provides that the requirements do not apply to credit card transactions. Makes a violation of the provisions an unlawful practice under the Act.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2007
Committee Review
Floor Vote
Governor
Introduced Feb 9, 2007
Last action Jan 13, 2009
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
19
Key actions
3
Committee
6
Amendments
2
Dec 3, 2007
Committee
Pursuant to Senate Rule 3-9(b) / Referred to Rules
upper
Mar 15, 2007
Upper · Passed
Do Pass as Amended Financial Institutions; 009-000-000
upper
Mar 15, 2007
Upper · Passed
Senate Committee Amendment No. 1 Adopted
upper
Mar 14, 2007
Upper · Passed
Senate Committee Amendment No. 1 Rules Refers to Financial Institutions
upper
Mar 12, 2007
Committee
Senate Committee Amendment No. 1 Referred to Rules
upper
Mar 12, 2007
Introduced
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Jacqueline Y. Collins
upper
Feb 21, 2007
Committee
Assigned to Financial Institutions
upper
Feb 9, 2007
Committee
Referred to Rules
upper
0 primary · 1 co-sponsor
Sponsors
No sponsor information available.
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