Washington State
House of Representatives
Office of Program Research
BILL
ANALYSIS

Financial Institutions & Insurance Committee

HB 1894

Brief Description: Placing restrictions on the marketing or merchandising of credit cards to students at the state's institutions of higher education.

Sponsors: Representatives Chase, Strow, Williams, Kirby, Ericks, Ormsby, Morrell and Haigh.

Brief Summary of Bill
  • Requires state institutions of higher education to develop policies regarding the marketing or merchandising of credit cards to students.
  • Requires that an institution consider registering credit card marketers, limiting the times and locations of marketing, and prohibiting material inducements to complete credit card applications.
  • Requires the policies inform students about good credit management practices.
  • Requires that the policies are made available to all students upon request.

Hearing Date: 2/16/05

Staff: Jon Hedegard (786-7127).

Background:

Current law does not restrict the marketing of credit cards on the campuses of institutions of higher education.

Current law defines "institutions of higher education" as "the state universities, the regional universities, The Evergreen State College, the community colleges, and the technical colleges."

Summary of Bill:

Each state institution of higher education is required to develop policies regarding the marketing or merchandising of credit cards to students on their campus or property. Each school is responsible for developing its own official policies. In developing the policies, an institution must consider student comments.

The policies must consider and make decisions regarding:

The policies must include:

The provisions do not apply:

Appropriation: None.

Fiscal Note: Not requested.

Effective Date: The bill takes effect 90 days after adjournment of session in which bill is passed.