The Consumer Financial Protection Bureau is launching an inquiry into the impact of financial products marketed to students through colleges and universities.
It will then determine whether these arrangements are in the best interest of students.
Agreements between credit card issuers and institutions of higher education are now subject to public disclosure.
But not a lot is known about the arrangements regarding other financial products marketed to students, such as student identification cards that double as debit cards, school-affiliated bank accounts, and cards used to access scholarships and student loans.
Story by Bill Hardekopf of LowCards.com.
- Feds Call On Financial Institutions To Disclose Campus Financial Agreements
- CFPB Targets Banks’ Campus Deals
- Banks and Colleges Fleecing College Students With High Fee Debit Cards
- Overdraft Fees For Student Credit Cards Banned
- College Students Getting More Perks From Banks While Others Getting Less
- Next Financial Danger: Student Loans