H.R.184 - College Student Credit Card Protection Act107th Congress (2001-2002)
|Sponsor:||Rep. Slaughter, Louise McIntosh [D-NY-28] (Introduced 01/03/2001)|
|Committees:||House - Financial Services|
|Latest Action:||03/02/2001 Referred to the Subcommittee on Financial Institutions and Consumer Credit.|
This bill has the status Introduced
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Subject — Policy Area:
- Finance and Financial Sector
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Summary: H.R.184 — 107th Congress (2001-2002)All Bill Information (Except Text)
College Student Credit Card Protection Act - Amends the Truth in Lending Act to limit by a specified formula the total credit extended under a credit card account to a full time, traditional-aged college student (unless the student's parent or guardian assumes joint liability). Prohibits increasing the credit limit on an account for which a parent or guardian has assumed joint liability without the parent's or guardian's approval of such increase.
Introduced in House (01/03/2001)
Prohibits a creditor from opening a credit card account for any such college student who: (1) has no annual gross income; and (2) already has a credit card account under an open end consumer credit plan.