After years of looking the other way, Congress seems finally poised to rein in the predatory practices that have become all too common in the credit card business. Several bills now pending would outlaw unfair billing practices, like the one known as universal default, under which a late payment on an unrelated bill  a utility bill, for example  allows credit card companies to raise their interest rates through the roof. Other legislation would place limits on the way companies market to college students.

All too often, these companies sometimes deluge students with cards, even when they have no verifiable income, luring them and sometimes their families into debt. Under pending bills, the companies would be forced to consider a student’s ability to pay and could extend no more than a single card to a student with no income. In cases where parents are jointly liable, the spending limit could be raised only with parental approval.

These common sense measures are a good start. The politically powerful credit card industry won’t sit idly by, however, and these reforms are much more likely to succeed if they are wrapped into a comprehensive bill  with more vocal support from the leadership.

Congress also needs to take a close look at the school-themed credit cards that are often offered by privately run college alumni associations. The associations earn royalties and sometimes share a portion of the money with the colleges, which are then required to promote the cards on campus. These deals resemble the unsavory arrangements under which student loan companies paid kickbacks to colleges in exchange for being placed on so-called “preferred lender” lists. The most prudent approach for colleges and alumni groups would be to promote these cards only to graduates who have jobs and bank accounts. If the colleges persist on marketing to students, Congress should bar the practice.