Colleges still receive $73 million from charge card businesses

University charge cards were a major target of charge card reform. The Federal Reserve has recently released a report on the state of college charge cards. The 2009 CARD act targeted credit card marketing practice. Last year, the number of applications did go down substantially. Regardless of these limitations, credit card companies are still getting profit off of college pupils. In 2010, companies paid out $73 million in profit-sharing to universities and alumni associations. That's lots of pay day loans being handed out to students. How the CARD Act changed credit cards for students Lots of students had charge card…

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