WASHINGTON — The House today passed a measure that would baninterest rate hikes on existing balances, over-the-limit fees anddouble-cycle billing.

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The bill passed 312-112, but it is unclear if the Senate willtake it up this year.

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CUNA and NAFCU both said they supported the idea of expandingconsumer rights, but took issue with several parts of the measure,including a provision requiring a 45-day notice of rate changes,and the provision mandating creditors set up a system so consumerscan notify them if they want to opt out of credit authorization ofover-the-limit transactions if fees are involved.

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Many of the provisions of the bill, H.R. 5224, are similar toregulations that have been proposed by the NCUA, the FederalReserve and the Office of Thrift Supervision. Those agencies havesaid they will issue final rulings before the end of the year.

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Another provision of the measure gives credit card users atleast 25 days to pay their bills each month and mandates no latefees if the payment reached the credit card company on 5 p.m. onthe due date. NAFCU expressed concern that this might burdensmaller credit unions that have limited hours.

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