Texas Senate Bill SB676

Texas 2009 - 81st Regular

Caption

Relating to credit card marketing activities at postsecondary educational institutions.

Impact

Under the provisions of SB676, credit card issuers will be mandated to submit an annual report detailing any gifts or donations made to the institution, particularly those directed towards athletics or other programs. This transparency requirement aims to foster openness about the potential conflicts between marketing activities and institutional integrity. Additionally, financial aid offices will be tasked with compiling comparative information about credit cards marketed at the school and making this information readily accessible to students. The intent is to empower students with sufficient knowledge to make informed decisions regarding credit choices.

Summary

SB676 focuses on the regulation of credit card marketing activities at postsecondary educational institutions within Texas. The bill aims to establish clearer guidelines for how credit card issuers can conduct marketing on campuses, requiring that such activities be restricted to designated locations and specific times approved by the institution's governing board. This ensures that students are not targeted inappropriately or aggressively by credit card marketing campaigns, which can lead to unnecessary debt among young adults. The bill emphasizes the need for cooperation between student governments and administrative bodies to make these decisions.

Contention

While many support SB676 for its potential to protect students, there are concerns about how it might limit the efforts of institutions to generate revenue through partnerships with credit card companies. Critics might argue that excessive regulation could hinder beneficial financial partnerships or educational opportunities tied to marketing activities. However, supporters emphasize that protecting students from predatory marketing tactics and ensuring transparency regarding financial terms outweighs these concerns.

Final_points

Overall, SB676 represents a significant step towards protecting students from potentially exploitative credit card marketing practices and ensuring that educational institutions maintain transparency in their financial dealings. The emphasis on student input through the requirement for student government approval for marketing activities reflects a broader commitment to student welfare at the state's colleges and universities.