Enrolled Bill Summary

House Bill 85	House Author:  Branch et al.
Effective:  9-1-07	Senate Sponsor:  Van de Putte

            House Bill 85 amends the Business & Commerce Code to prohibit a credit card issuer from engaging in campus credit card marketing activities at times or locations other than those designated by the governing board of a postsecondary educational institution. The bill also requires the issuer to develop financial educational material containing certain information in consultation with or subject to approval by the institution and to make the material available to students during campus marketing activities, when issuing a credit card, and on the Internet. The bill prohibits the issuer from offering a gift or other incentive in exchange for completing a credit card application unless the issuer also provides the individual with the financial educational material. The bill establishes a civil penalty of up to $2,500 per violation for any person who intentionally violates these provisions. In addition, the bill requires an institution that designates a location for campus credit card marketing activities to adopt a policy requiring a credit card and debt education and counseling session in any orientation program for new students.