Credit Card Cosigner Protection Act of 2010

Credit Card Cosigner Protection Act of 2010 - Amends the Truth in Lending Act to require the creditor or lessor to provide to each obligor involved in a consumer credit transaction or consumer lease all disclosures required under such Act.

[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4659 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 4659

    To amend the Truth in Lending Act to require disclosures to all 
     cosigners and guarantors with respect to any consumer credit 
   transaction or consumer lease that are required to be made to the 
 consumer in connection with such transaction or lease, and for other 
                               purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                           February 23, 2010

  Mr. Hodes introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
    To amend the Truth in Lending Act to require disclosures to all 
     cosigners and guarantors with respect to any consumer credit 
   transaction or consumer lease that are required to be made to the 
 consumer in connection with such transaction or lease, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Credit Card Cosigner Protection Act 
of 2010''.

SEC. 2. DISCLOSURES REQUIRED.

    Section 621 of the Truth in Lending Act (15 U.S.C. 1631(a)) is 
amended by striking the 2nd sentence and inserting the following new 
sentence: ``In a consumer credit transaction or consumer lease 
involving more than 1 obligor, the creditor or lessor, shall provide 
all disclosures required under this title with respect to any such 
transaction or lease to each obligor.''.
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