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Cuomo opens investigation of credit card marketing to college students

03/09/2010 - By Tom Lu

New York attorney general investigating how credit card companies market to college students.

Tag: Credit Card Processing

College students have long been a prime target for credit card companies looking to lure newly independent consumers to pay at point-of-sale terminals. But now, one state is beginning to investigate just how fair these marketing tactics really are.

New York attorney general Andrew Cuomo has requested information from every college and university in New York on any exclusive contracts the institutions have made with credit or debit card companies.

The information is part of an investigation Cuomo has begun into whether credit card marketers have received personal student information without the individual's consent.

"Today's students are facing a growing mountain of debt that can burden them long after graduation," Cuomo said. "As the new school year begins, we want to make sure that colleges and universities are doing all that they can to help students avoid financial dangers."

Cuomo, a Democrat, is also running for governor and is currently ahead of his Republican challengers.ADNFCR-3381-ID-19936071-ADNFCR

Articles written by ChargeNational.com's editorial team. For more information, click here.

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