Consumer Group To Investigate Products Banks Market to College Students

Consumer Group To Investigate Products Banks Market to College Students
Photo (cc) by CollegeDegrees360

The Consumer Financial Protection Bureau wants to know how college students access money, and whether they think it’s reasonable.

With credit cards, financial companies have to publicly disclose these types of agreements with schools. However, we know less about these arrangements when it comes to other things, like debit cards to access your student loan funds and student checking accounts. We’ve heard from students that sometimes these arrangements are a convenience, while other times we’ve heard that they didn’t feel they had a choice. We want to see if students are getting a good deal and what schools can do to help them through the process.

They’re seeking comments from students, of course, but also from their parents, schools, alumni associations, financial aid workers, and banks. If there’s something that bugs you about how products are marketed to students, what access they have to accounts, what fees students pay, what financial options are available to them, and so on – it’s time to speak up.

You can email [email protected] directly until March 18. They ask you leave out personal information like your account details or Social Security number because they won’t be editing anybody’s submissions and these will become public records.

You can view over 40 specific questions CFPB wants to answer in their official request.

Popular Articles

10 Habits Happy People Use to Make Life Better
10 Habits Happy People Use to Make Life Better

If you want to walk through life with a smile on your face, try these habits on for size.

9 Houseplants That Remove Toxins From Your Indoor Air
9 Houseplants That Remove Toxins From Your Indoor Air

These plants may also do everything from reducing the amount of dust in your home to boosting your happiness.

Don’t Want to Owe Taxes After You Die? Avoid These 17 States
Don’t Want to Owe Taxes After You Die? Avoid These 17 States

In one state, the tax man is especially tough on the estates of those who shake off this mortal coil.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Comments