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HR 3142 106th Congress House

College Student Credit Card Protection Act

Official title: To amend the Consumer Credit Protection Act to prevent credit card issuers from taking unfair advantage of full-time, traditional-aged, college students, to pr… Show full official titleShow less

Official title: 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 parents of traditional college student credit cards holders, and for other purposes.

Introduced: October 25, 1999 See on congress.gov
Finance and Financial Sector AdvertisingCollege studentsCommerceConsumer credit
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Consumer educationConsumer protectionCredit cardsDebtEducationFamiliesHigher educationIncomeLawLiability (Law)Parents
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This bill died when the 106th Congress ended
It never became law before the 106th Congress (1999–2000) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 18, 1999
Sponsor introductory remarks on measure. (CR E2439)
Oct 25, 1999
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Oct 25, 1999
Referred to the House Committee on Banking and Financial Services.
Oct 25, 1999
Introduced in House
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 Latest action November 18, 1999

Sponsor introductory remarks on measure. (CR E2439)

 Plain-English summary Congressional Research Service
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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 7
All 7 Democratic 5 Republican 1
D
DeLauro, Rosa L.
Connecticut · Jul 12, 2000
 D
Lofgren, Zoe
California · Jun 23, 2000
 D
Kaptur, Marcy
Ohio · Oct 25, 1999
 D
McGovern, James P.
Massachusetts · Oct 25, 1999
Sanford, Mark
· Oct 25, 1999
 R
Smith, Christopher H.
New Jersey · Oct 25, 1999
 D
Thompson, Bennie G.
Mississippi · Oct 25, 1999
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3142: College Student Credit Card Protection Act. 106th Congress. Open America. https://openamerica.io/bill/106-HR-3142/
MLA
"H.R. 3142: College Student Credit Card Protection Act." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-HR-3142/.
Bluebook (legal)
H.R. 3142, 106th Cong. (2026), https://openamerica.io/bill/106-HR-3142/.
Markdown link
[H.R. 3142: College Student Credit Card Protection Act](https://openamerica.io/bill/106-HR-3142/)
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