H.R. 3347 · 110th Congress
Student Credit Card Protection Act of 2007
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
SlaughterSponsor12 cosponsors · 11 D, 1 R
R
Duncan
DC
D
Christensen
GM
D
Miller
AW
D
Wynn
EC
D
Cummings
ZL
D
Lofgren
HJ
D
Johnson
JS
D
Schakowsky
JT
D
Tierney
AH
D
Hastings
BR
D
Rush
CP
D
Peterson1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Student Credit Card Protection Act of 2007 - Amends the Truth in Lending Act to limit by a specified formula the total credit which may be extended by a creditor during any full calendar year to a full time, traditional-aged college student under a college student credit card account, unless a parent, legal guardian, or spouse of the student assumes joint…
What it does: CRS summary · Introduced in House · Aug 2, 2007
Student Credit Card Protection Act of 2007 - Amends the Truth in Lending Act to limit by a specified formula the total credit which may be extended by a creditor during any full calendar year to a full time, traditional-aged college student under a college student credit card account, unless a parent, legal guardian, or spouse of the student assumes joint liability for debts incurred.
Prohibits increasing the credit limit on an account for which a parent, guardian, or spouse has assumed joint liability without that person's written approval.
States that a creditor must require adequate proof of income, income history, and credit history, before any such college student credit card account may be opened.
Prohibits a creditor from opening a credit card account for, or issue any credit card to, any college student who: (1) has no verifiable annual gross income; and (2) already maintains a credit card account under an open end consumer credit plan with the same creditor or any affiliate.
Directs the Board of Governors of the Federal Reserve System to promulgate implementing regulations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Student Credit Card Protection Act of 2007
Latest action (Sep 5, 2007): Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Aug 2, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.