CFPB Student Banking and College Credit Card Marketing Agreements

Institutions of higher education play a critical role in supporting and
promoting students’ overall financial health and well-being. A growing
body of evidence suggests that relatively small financial shocks may
cause acute financial hardship for students, potentially derailing their
academic pursuits.<br>The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
instructs the Bureau to monitor for risks to consumers in the offering
or provision of consumer financial products or services, particularly
when those products pose a disproportionate risk to traditionally
underserved populations.<br>

Student banking reports to Congress

These reports monitor the growth and impacts of financial
products offered by or in conjunction with colleges, specifically
focusing on marketing agreements for college-sponsored deposit and
prepaid accounts and college-sponsored credit cards.<br>

College credit card marketing agreements and data

As required by the Credit CARD Act of 2009, we collect
information annually from credit card issuers who have marketing
agreements with universities, colleges, or affiliated organizations such
as alumni associations, sororities, fraternities, and foundations. We
maintain publicly accessible files of the agreements.<br><br><br><br><br>