United States · Bill · S
S. 891 (107th)
Underage Consumer Credit Protection Act of 2001
Introduced
15 May 2001
Last action
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Status
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S4958)
Sponsors
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Subjects
Discovery layer
Source updated
19 August 2025
Summary
Underage Consumer Credit Protection Act of 2001 - Amends the Truth in Lending Act to prescribe application requirements for the issuance of a credit card to an underage (under age 21) consumer, which include: (1) signature indicating joint liability for debts in connection with the account by another individual having the means to repay debts incurred by the underage consumer; (2) submission of financial information indicating an independent means of repayment by the consumer; or (3) proof of completion by the consumer of a specified credit counseling course. Authorizes the Board of Governors of the Federal Reserve system to promulgate the attendant rules and model forms.
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate (text)
Introduced in Senate · EN · 15 May 2001
Introduced in Senate (PDF)
Introduced in Senate · EN · 15 May 2001
Introduced in Senate
summary · EN · 15 May 2001
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/107th-congress/senate-bill/891
- Open data entity: https://api.congress.gov/v3/bill/107/s/891