College-Issued Credit Cards Declined in 2010

The number of credit cards issued by colleges or alumni associations dropped in 2010, suggesting that a federal law aimed at restricting the marketing of cards to students appears to be having an impact, USA Today reported. The article cites a report this month by the Federal Reserve Board finding that the number of credit cards issued by colleges and alumni associations fell by 17 percent, and that the revenue colleges and alumni groups received from marketing agreements with credit card providers declined by 13 percent. A 2009 law aimed at limiting credit card excesses included several restrictions on the marketing of cards to undergraduates.