College Kids and Credit Cards
Lawmaker Announces Plan to Stop Credit Predators on College Campuses
Lawmaker to introduce bill to protect college kids from falling prey to credit companies.
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It's a common sight on college campuses: Credit card companies offering deals to students to get them to sign up for a new credit card.
But many first-time borrowers don't know what their getting into, and often get stuck with interest rates and credit card bills they can't afford.
Now, State Senator Thomas Gaffey is introducing a bill that would restrict access for lenders on campus. The restrictions, Gaffey says are needed to protect students from lenders, who often prey on the naivety of college students.
Gaffey plans to introduce the bill in January.
Posted Sunday, Jul 19, 2009 - 11:32 PM EST
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