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.
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.
Actions
Mar 2, 2001
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Jan 3, 2001
Referred to the House Committee on Financial Services.
Jan 3, 2001
Sponsor introductory remarks on measure. (CR E2-3)