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This Act (a) amends the Truth in Lending Act to prescribe open-end credit lending procedures and enhanced disclosures to consumers, limit related fees and charges to consumers, increase related penalties, and establish constraints and protections for issuance of credit cards to minors and students (numerous sections); (b) amends the Electronic Fund Transfer Act to address fees and other terms of gift certificates, store gift cards, and general-use prepaid cards (Sections 401-402); (c) amends the Fair Credit Reporting Act by requiring FTC rulemaking to mandate that advertisements for free credit reports disclose that free credit reports are available under Â鶹´«Ã½ law at annualcreditreport.com and by protecting young consumers from prescreened credit offers (Sections 205, 302); and (d) amends the Mortgage Related Provisions of the Omnibus Appropriations Act of 2009 to clarify the FTC’s rulemaking authority under that Act (Section 511). The Dodd-Frank Act transferred these rulemaking authorities to the Consumer Financial Protection Bureau. This Act also requires other rulemaking, studies and activities involving FTC participation.