OLR Bill Analysis

sHB 6483

AN ACT CONCERNING CREDIT CARD OFFERS ON COLLEGE CAMPUSES.

SUMMARY:

This bill requires the Board of Governors of Higher Education, by January 1, 2010, to adopt policies regulating credit card company marketing practices on Connecticut's public college campuses. The policies must require credit card companies to (1) register with a public higher education institution before marketing on a campus and (2) distribute debt education material. The policies must also restrict the time and place for marketing credit cards and prohibit:

1. credit card companies from soliciting undergraduate students during the class registration period,

2. the colleges from selling student information to credit card companies,

3. college employees from marketing credit cards to students, and

4. the use of gifts and incentives in marketing.

EFFECTIVE DATE: July 1, 2009

COMMITTEE ACTION

Banks Committee

Joint Favorable Substitute

Yea

16

Nay

0

(03/10/2009)