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Last week, the Consumer Financial Protection Bureau (CFPB) announced that it’s launching an inquiry into the effects of financial products marketed to students through colleges and universities. The CFPB is trying to find out if these arrangements are in the students’ best interests.
The CARD Act of 2009 banned financial institutions from using certain marketing techniques on college campuses. But there isn’t much known about other products marketed to students like student ID cards that double as debit cards or cards used to access student loan money. Click here to read more.