This is the link to the information on the new credit card bill at Thomas.gov.  It spells out the changes that are being made to help people with credit card debt.  You can read the bill for yourself.  There are a few things here that I think are positive:

1.  The 45-day notice on interest rate changes.

2.  Prohibits a creditor from opening a credit card account for any college student who: (1) has no verifiable annual gross income; or (2) already maintains a credit card account with that creditor, or any affiliate.

This is a mixed blessing.  My kids used credit cards in college when they had no verifiable income.  A better idea might have been to cap the credit level of a college student at a very low level, and I believe there is something similar to that in the bill.

3.  Prohibits extensions of credit to consumers under age 18, unless they are emancipated under state law, or the consumer’s parent or legal guardian is designated as the primary account holder.

The above three aspects of the bill are good ideas.  The question comes on how they will be implemented.  It will also be interesting to see what the credit card companies do to make up for the income they will lose by not being able to raise interest rates on a moment’s notice.  The Congress has done what it can to make credit cards more consumer-friendly, let’s see what the credit card companies do in response.