Assembly panel approves ban on credit card direct marketing on college campuses
Assembly does nothing about warning students about similar risks with student loans
Credit card companies are “preying” on college students, according to some members of the state Assembly.
Under a bill advanced unanimously by the Assembly higher education committee today, state colleges and universities would be barred from allowing credit card companies to promote their products directly to students on campus.
“This bill would protect many unsuspecting college students from the predatory practices often employed by credit card companies,” Assemblywoman Celeste Riley, D-Cumberland, one of the bill’s sponsors, said in a statement. “College students are often unaware of the consequences of bad credit and many more don’t realize the exorbitant interest rates they’re charged.” (Linhorst, The Record)
