WASHINGTON, D.C. – Today the U.S. House of Representatives passed H.R. 627, the Credit Cardholders' Bill of Rights Act, which included an amendment by U.S. Representative Walter B. Jones (R-NC) to help estate executors who are attempting to wind-down and pay off a deceased borrower’s accounts. The bill passed the House by a vote of 361 to 64 and is expected to be signed into law by the President.

“This issue was brought to my attention by a constituent who was named executor of his deceased brother’s estate,” Congressman Jones said. “While in the process of paying off outstanding debt to several creditors from the estate coffers, this constituent executor was unable to get one credit card company to respond to his repeated inquiries as to the outstanding balance amount on his deceased brother’s account. He contacted the credit card company four times by phone, four times in writing, and by fax. The constituent executor also repeatedly submitted the requisite Death Certificate and Letters of Testamentary to show his authority as executor. While he was unable to obtain the balance amount and therefore could not pay off the debt, the account was accruing significant interest every month.”

“Estate administrators should not have to chase after creditors or get the run-around from poor customer service while attempting to pay off a deceased loved one’s debts,” Jones said.

Jones’ amendment would require the Federal Reserve Board, in consultation with the Federal Trade Commission and other agencies, to establish regulations that would allow estate administrators to resolve outstanding credit balances on credit card accounts in a timely manner. It would also require credit card companies to work with estate executors or administrators to expeditiously resolve outstanding account balances. The amendment would not change a deceased borrower’s debt obligations or interfere with state law concerning creditors’ rights.