Last week, the CFPB released its twelfth annual report to Congress on college credit card agreements. The annual report is mandated by the CARD Act.
The CARD Act requires mandatory reporting to the CFPB by card issuers on agreements with institutions of higher learning or certain affiliated organizations (such as alumni associations). Like last year’s report, the new report returns to the Bureau’s pre-2016 practice of including in the annual report not only the information on college credit card agreements mandated by the CARD Act but also information on other financial products marketed to students.
