RESTRICTIONS ON CREDIT CARD MARKETING PROPOSED IN OHIO
Bills have been introduced in the Ohio Senate and Ohio House of Representatives to prohibit credit card marketing aimed at students on any campus of an Ohio institution of higher education. Ohio “institution of higher education” means any state university or college, state community college, university branch or technical college. The restrictions would apply to credit card issuers and student organizations.
The bill in the Ohio House of Representatives contains additional prohibitions and extends the prohibitions to private institutions of higher education. The House bill prohibits institutions of higher education from (i) releasing student information to any entity for profit-making plans or activities, (ii) entering into any agreement with any entity to market credit cards to students and (iii) promoting credit cards on the institution’s website.
The Senate bill is being considered by the Ohio Senate Finance and Financial Institutions Committee. The House bill is being considered by the Consumer Affairs and Economic Protection Committee.
Please contact us with any questions or for a copy of the Senate or House Bill.
Elizabeth L. Anstaett and Darrell Dreher