Texas House Bill HB2014

Texas 2009 - 81st Regular

• Out of House Committee: 5/2/09
• Voted on by House: 5/13/09

Caption

Relating to credit card marketing activities at postsecondary educational institutions.

Impact

The bill’s clauses specifically amend existing sections of the Business and Commerce Code, reflecting a broader effort to curb predatory financial marketing on college campuses. By preventing institutions from disclosing student information to credit card companies, HB2014 is set to reinforce the consumer protection framework to which college students have access. Moreover, it obligates credit card issuers to refrain from offering incentives for credit applications unless they provide financial educational materials, further promoting informed decision-making among students regarding credit usage.

Summary

House Bill 2014 aims to regulate credit card marketing activities at postsecondary educational institutions by instituting prohibitions on the disclosure of student contact information. Under the provisions of the bill, educational institutions are prohibited from sharing student data, including names, email addresses, and residential addresses, with credit card issuers. This initiative is intended to protect students from aggressive credit card marketing practices that could exploit their information without consent, enhancing their privacy and security in a vulnerable stage of their financial independence.

Contention

While supporters of HB2014 argue that the bill is necessary to protect young adults from financial pitfalls and intrusive marketing tactics, concerns about the enforcement and ramifications of this prohibition have emerged. Critics argue that restricting access to student information for legitimate financial education and marketing could hinder credit card companies from providing helpful services. Additionally, some legislators express concerns about balancing student privacy with the need to ensure that students can connect with responsible financial services that offer beneficial resources.