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CFPB releases college credit card report
The CFPB has released its 2019 report on college credit cards. The Credit Card Accountability, Responsibility, and Disclosure (CARD) Act requires credit card issuers to submit agreements they make with colleges (and organizations affiliated with colleges) to the CFPB and requires the CFPB to submit a report that lists that information to Congress and make it available to the public.
The report finds that the market for these kinds of college credit cards is getting smaller, continuing a trend that dates back a decade. The Bureau also found that there are fewer issuers this year who are parties to college credit card agreements compared to last year and that agreements with alumni associations continue to make up the largest part of this market.