College Student Credit Card Protection Act

Summary

College Student Credit Card Protection Act - Amends the Truth in Lending Act to limit 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) to the greater of: (1) 20 percent of the students' most recent annual gross income; or (2) the product of $500 and the number of years since the account was opened (but not more than $2,000). Provides that "traditional-aged" is to be determined by the educational institution involved. 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 full time, traditional-aged college student who has no annual gross income and already has a credit card account under an open end consumer credit plan. Requires that mandated disclosures in any open end consumer credit application and solicitation be in a typeface at least as large as the largest typeface otherwise used in the application or solicitation.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 October 1999

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 25 October 1999

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 25 October 1999

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.