Congress May Make It Harder For Credit Card Companies To Target College Students

McClatchy Newspapers:

Credit card companies beware: Congress is watching.

A flurry of bills is in the works in the House of Representatives and the Senate that would rein in how those companies do business. One proposed change that's triggered interest among lawmakers, particularly as the economy sours, would make it harder for college students to qualify for credit cards.

"It really is just too easy," said Christine Lindstrom, the director of the Higher Education Project at the nonpartisan Public Interest Research Group. "They will do anything to be the first card in college students' wallets. They don't do credit checks. They don't even know if students have income."

Read the whole story: McClatchy Newspapers

Comments

[tililek]

If they're really going to look at the Credit Card industry - don't just stop with the marketing of cards to students - look at the fees and interest rates as well. People would be better off if they were careful about what they charged and when they opt to use cash.

[ThatsNotFunny]

"One proposed change that's triggered interest among lawmakers"

Hahahah triggered "interest" very funny guys...