I 
108TH CONGRESS 
2D SESSION 
H. R. 5060 
To amend the Consumer Credit Protection Act to prevent credit card issuers 
from taking unfair advantage of full-time, traditional-aged, college stu-
dents, to protect parents of traditional college student credit card holders, 
and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 9, 2004 
Ms. SLAUGHTER (for herself and Mr. DUNCAN) introduced the following bill; 
which was referred to the Committee on Financial Services 
A BILL 
To amend the Consumer Credit Protection Act to prevent 
credit card issuers from taking unfair advantage of full- 
time, traditional-aged, college students, to protect par-
ents of traditional college student credit card holders, 
and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘College Student Credit 
Card Protection Act’’.
SEC. 2. ISSUANCE OF CREDIT CARDS TO FULL-TIME, TRADI-
TIONAL-AGED, COLLEGE STUDENTS. 
Section 127 of the Truth in Lending Act (15 U.S.C. 
1637) is amended by adding at the end the following new 
subsection: 
‘‘(h) PROVISIONS APPLICABLE WITH REGARD
TO 
THE ISSUANCE OF CREDIT CARDS TO FULL-TIME, TRADI-
TIONAL-AGED COLLEGE STUDENTS.— 
‘‘(1) DEFINITIONS.—For purposes of this sec-
tion, the following definitions shall apply: 
‘‘(A) TRADITIONAL
COLLEGE
STUDENT 
CREDIT
CARD
ACCOUNT
DEFINED.—For pur-
poses of this subsection, the term ‘traditional 
college student credit card account’ means a 
credit card account under an open end con-
sumer credit plan established or maintained for 
or on behalf of any full-time, traditional-aged, 
college student. 
‘‘(B) FULL-TIME, TRADITIONAL-AGED COL-
LEGE
STUDENT.—The term ‘full-time, tradi-
tional-aged, college student’ means an indi-
vidual— 
‘‘(i) who is a student described in sub-
paragraphs 
(A) 
and 
(B) 
of 
section 
484(b)(3) of the Higher Education Act of
1965 at an institution of higher education; 
and 
‘‘(ii) whose age falls within the age co-
hort defined by such institution of higher 
education as the age cohort of traditional- 
aged students. 
‘‘(C) 
INSTITUTION
OF
HIGHER
EDU-
CATION.—The term ‘institution of higher edu-
cation’ has the meaning given to such term in 
section 101(a) of the Higher Education Act of 
1965. 
‘‘(2) MAXIMUM AMOUNT LIMITATION.—Unless 
a parent or guardian of a full-time, traditional-aged, 
college student assumes joint liability for debts in-
curred by the student in connection with a tradi-
tional college student credit card account, the total 
amount of credit extended under a traditional college 
student credit card account to such student may not 
exceed the greater of— 
‘‘(A) 20 percent of the annual gross in-
come of the student in the most recently com-
pleted calendar year; or 
‘‘(B) the product of $500 and the number 
of full years which have elapsed since the tradi-
tional college student credit card account was 
opened, not to exceed $2,000. 
‘‘(3) PARENTAL APPROVAL REQUIRED TO IN-
CREASE CREDIT LINES FOR ACCOUNTS FOR WHICH 
PARENT IS JOINTLY LIABLE.—No increase may be 
made in the amount of credit authorized to be ex-
tended under a traditional college student credit 
card account for which a parent or guardian of the 
consumer has assumed joint liability for debts in-
curred by the consumer in connection with the ac-
count before the consumer attains the upper limit of 
the age cohort described in paragraph (1)(B)(ii) 
with respect to such consumer, unless the parent or 
guardian of the consumer approves, in writing, and 
assumes joint liability for, such increase. 
‘‘(4) PROHIBITION ON MORE THAN 1 CREDIT 
CARD ACCOUNT FOR ANY FULL-TIME COLLEGE STU-
DENT WITHOUT INDEPENDENT INCOME.—No cred-
itor may open a credit card account for, or issue any 
credit card to, any full-time, traditional-aged, college 
student who— 
‘‘(A) has no annual gross income; and