U.S. Publishes Rules on Credit Card Marketing to Students

The Federal Reserve on Wednesday proposed new regulations to govern the marketing of credit cards to college students. The rules, which were published in the Federal Register, would carry out changes to the Truth in Lending Act that Congress made as part of the Credit Card Accountability Responsibility and Disclosure Act of 2009, which was designed to give consumers more protections from the practices of credit card companies. Among the provisions aimed at helping young people is a requirement that credit card issuers and colleges and universities disclose agreements they make to market or distribute credit cards to students, including so-called affinity cards.