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Full Text of this Amendment
At the end of title III, add the following:
SEC. 305. PRIVACY PROTECTIONS FOR COLLEGE STUDENTS.
Section 140 of the Truth in Lending Act (15 U.S.C. 1650) is amended by adding at the end the following:
``(f) Credit Card Protections for College Students.--
``(1) DISCLOSURE REQUIRED.--A covered educational institution shall publicly disclose any contract or other agreement made with a card issuer or creditor for the purpose of marketing a credit card.
``(2) GIFTS PROHIBITED.--No card issuer or creditor may offer any gift or other item to a student of a covered educational institution to induce such student to apply for or participate in an open end credit plan offered by such card issuer or creditor.
``(3) SENSE OF THE CONGRESS.--It is the sense of the Congress that each covered educational institution should consider adopting the following policies relating to credit cards:
``(A) That any card issuer that markets a credit card on the campus of such institution notify the administration of such institution of the location at which such marketing will take place.
``(B) That the number of locations on the campus of such institution at which the marketing of credit cards takes place be limited.
``(C) That credit card and debt education and counseling sessions be offered as a regular part of any orientation program for new students of such institution.''.
(As printed in the Congressional Record for the Senate on May 12, 2009.)