123STA T . 1 746PUBLIC LA W 111 – 24 —M A Y 22 , 2 0 0 9open en dc on sum e r cred it p la nma y result in an increase int h e annual percenta g e rate applica b le to the account , the statement re q uired under subsection ( b )w ith respect to the account shall include conspicuous notice o f such fact, together with the applicable penalty annual percent - age rate, in close pro x imity to the disclosure required under subparagraph ( A ) of the date on which payment is due under the terms of the account .‘ ‘( C ) PAYMENTS AT LOC AL BR ANC H ES. —I f the creditor, in the case of a credit card account referred to in subpara- graph (A), is a financial institution which maintains branches or offices at which payments on any such account are accepted from the obligor in person, the date on which the obligor ma k es a payment on the account at such branch or office shall be considered to be the date on which the payment is made for purposes of determining whether a late fee or charge may be imposed due to the failure of the obligor to make payment on or before the due date for such payment. ’ ’. SEC.203 . R E N E WALDI SCL O S U RES. S ection 127 (d) of the T ruth in L ending Act (1 5U .S.C. 1 63 7(d)) is amended— (1) by striking paragraph (2)
(2) by redesignating paragraph (3) as paragraph (2); and (3) in paragraph (1), by striking ‘‘ E xcept as pro v ided in paragraph (2), a card issuer’’ and inserting the following
‘‘A card issuer that has changed or amended any term of the account since the last renewal that has not been previously disclosed or’’. SEC. 20 4 .IN T ERNET P OSTIN G O F CREDIT CARD AGREE M ENTS. (a) IN G ENERAL.—Section 122 of the Truth and Lending Act (15 U.S.C. 1632) is amended by adding at the end the following new subsection: ‘‘(d) A D D I TIONAL ELECTRONIC D ISCLOS U RES.— ‘‘(1) POSTIN G AGREEMENTS.—Each creditor shall establish and maintain an Internet site on which the creditor shall post the written agreement between the creditor and the con- sumer for each credit card account under an open-end consumer credit plan. ‘‘(2) CREDITOR TO P RO V IDE CONTRACTS TO THE BOARD.— Each creditor shall provide to the B oard, in electronic format, the consumer credit card agreements that it publishes on its Internet site. ‘‘(3) R ECORD REPOSITORY.—The Board shall establish and maintain on its publicly available Internet site a central reposi- tory of the consumer credit card agreements received from creditors pursuant to this subsection, and such agreements shall be easily accessible and retrievable by the public. ‘‘( 4 )E X CEPTION.—This subsection shall not apply to individ- ually negotiated changes to contractual terms, such as individ- ually modified workouts or renegotiations of amounts owed by a consumer under an open end consumer credit plan. ‘‘(5) REGULATIONS.—The Board, in consultation with the other F ederal banking agencies (as that term is defined in Public i nformat ion .
