HB 1894-S - DIGEST

(DIGEST OF PROPOSED 1ST SUBSTITUTE)

Requires institutions of higher education to each develop official credit card marketing policies. The process of development of these policies must include consideration of student comments. The official credit card marketing policies must, at a minimum, include consideration of and decisions regarding: (1) The registration of credit card marketers;

(2) Limitations on the times and locations of credit card marketing; and

(3) Prohibitions on material inducements to complete a credit card application unless the student has been provided credit card debt education literature, which includes, but is not limited to, brochures of written or electronic information.

Requires the policies to include the following elements: A requirement for credit card marketers to inform students about good credit management practices through programs developed in concert with the institution of higher education; and a requirement to make the official credit card marketing policy available to all students upon their request.