Federal Reserve: Card issuers can't market credit cards within 1,000 feet of a college campus

[tylerdee]

Finally.
Card issuers will now be prohibited from marketing credit cards "near campus."
This article defines how "near campus" defined and what items are included under "prohibited inducements?"

Fed: Credit card issuers, stay far away from college campus

Personally, I think this is overdue and should cause a collapse of the "crappy free t-shirt" marketplace.

[Gormy Cuss]

1. Eh, I say let them market on college campuses

as long as the Fed rules that they can't collect on any bad debts incurred before age 21.

[Berry Cool]

3. Genius!

THAT would put a stop to 'em fast!

[Barack_America]

2. Good. They used to set up shop in my student union.

Students go to school to learn, not be scammed.

[Berry Cool]

4. LOL, you call it the "'crappy free T-shirt' marketplace"

and I would also call it the "crappy 'free beer mug that never arrives' marketplace."

I remember that at one time my college dorm was inundated with cookware parties. Every student I knew was telling me I HAD to come to their cookware party. The cookware party was attempting to get students to invest $200 to $300 in complete sets of high-quality cookware that we of course had no use for while still living in a dorm or with parents, but which we supposedly would be grateful for afterward and which would, unlike the crappy cheap cookware most students buy after they move out on their own, last for years. Of course, none of us bought it, because who has $200 to $300 to spend on cookware they won't use for at least another year or two? Especially when everyone's thinking they'll get married soon after college anyway and then other people will buy their cookware for them?

The lure used to suck you into attending these parties was that you would get a free beer mug just for doing so. The mugs weren't at the party; you had to fill out a form, which was collected at the end. The mugs, somehow, never arrived.

[Romulox]

5. We're saved!

:eyes:

[PA Democrat]

6. Credit cards for students with little to no income on top of student loans....

What could possibly go wrong?

My son started getting offers shortly after he graduated from high school and we had a long discussion about the evils of credit cards and I suggested that he formally opt out of prescreened credit offers, especially while he was still a full-time student. I didn't realize that they do those promotions on or near campuses.

BTW, here is the link to "opt out" for anyone interested:

https://www.optoutprescreen.com/?rf=t

[ProgressiveProfessor]

7. Not sure they have the authority and what is the enforcement mechanism