TO: | Honorable Helen Giddings, Chair, House Committee on Business & Industry |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB1783 by Howard, Donna (Relating to the marketing of credit cards to students at a postsecondary institution and to certain young persons; providing a civil penalty.), As Introduced |
The bill amends the Business and Commerce Code and prohibits credit card issuers from mailing solicitations to persons between the ages of 18 and 23 that include: a sample credit card, the term "pre-approved", a blank check or an offer of a gift or other incentive in exchange for completing the application.
Credit card issuers are also prohibited from conducting activities on campuses of post secondary educational institutions designed to encourage students to apply for credit and that provide to students any materials that contain the aforementioned prohibited terms or provisions. The Attorney General is authorized to sue a person who violates this subchapter, and collect a civil penalty not to exceed $1000 for each violation.
Source Agencies: | 302 Office of the Attorney General
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LBB Staff: | JOB, JRO, JM
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