Campus Financial Products

According to a new blog post about “secret banking contracts” by Rohit Chopra, the CFPB’s Student Loan Ombudsman, the CFPB is sending letters to colleges and universities “to make sure they know that their bank partner has not yet committed to transparency when it comes to student financial products” because it has not yet posted its marketing agreement with the school on its website.   … Continue Reading

On Thursday, July 31, 2014, the Senate Committee on Banking, Housing, and Urban Affairs  will conduct a hearing on “Financial Products for Students: Issues and Challenges.”

The witnesses scheduled to appear are:

  • David A. Bergeron, Vice President for Postsecondary Education Policy, Center for American Progress
  • Christine Lindstrom, Higher Education Program Director, U.S.
Continue Reading

We recently commented that financial institutions offering financial products to college students, including debit or prepaid cards, under agreements with colleges should be planning now for the possible advent of new restrictions from the Department of Education (ED) on their practices and agreement terms, including the distinct possibility of public disclosure of the agreements themselves. … Continue Reading