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Too Many Credit Card Ads
Legislation has been introduced in Massachusetts and New York to limit credit card marketing on public college campuses.
One representative said he introduced the bill because students don't know how to manage debt. He used as an illustration one student who managed to obtain 19 credit cards using his student ID and then ran up $15,000 in debts. He had to drop out of college, and any income he can make will be subject to garnishment.
So far, only the two states are considering this action.
Copyright © 1997 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 7, No. 7, 6/97
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