I
107TH CONGRESS
1ST SESSION
H. R. 184
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
JANUARY 3, 2001
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
individual—
‘‘(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
‘‘(B) already maintains a credit card ac-
count under an open end consumer credit plan.
SEC. 3. CREDIT CARD APPLICATIONS AND SOLICITATIONS.
Section 127(c) of the Truth in Lending Act (15
U.S.C. 1637(c)) is amended—
(1) by redesignating paragraph (5) as para-
graph (6); and
(2) by inserting after paragraph (4) the fol-
lowing new paragraph:
‘‘(5) FORMAT.—The disclosures required under
this subsection in any application, solicitation, or
other document or paper (other than the information
to which section 122(c) applies) shall be included in
such solicitation, application, or other document or
paper in a typeface that is at least as large as the
largest typeface otherwise used in such solicitation,
application, or other document or paper.’’.
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