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By Eva Loayza | December 21st, 2012 - 11:21am
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Assembly Democrats News Release

Riley & Wagner Bill to Prevent Credit Card Companies from Preying on College Students Gets Final Legislative Approval

(TRENTON) - Bipartisan legislation sponsored by Assemblywomen Celeste Riley and Connie Wagner to prevent credit card companies from preying on college students received final legislative approval on Thursday and now heads to the governor's desk.

"This bill would protect many unsuspecting college students from the predatory practices often employed by credit card companies," said Riley (D-Cumberland/Gloucester/Salem. "College students are often unaware of the consequences of bad credit and many more don't realize the exorbitant interest rates they're charged. In many cases, students end up graduating more in debt to credit cards than student loans. This bill would help curb that likelihood."

The bill (A-1688) would prohibit a public institution of higher education in New Jersey from entering into an agreement, or permitting its agents or a student organization from entering into any agreement, for the purposes of the direct merchandising of credit cards in person or by displays to students.

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Quote of the Day

Quote of the day

"This is my first Mark Smith event. There have been a lot of changes in Hudson County over the last year and a half, and the most important change that has happened is that there really is unity. For the first time, we really are working together. Despite political differences. Mark and I have worked very hard to repair that. I'm really happy to be here in support of him, because I recognize that when you work together, politics becomes secondary and you really have time to focus on government, which is the most important thing." - Jersey City Mayor Steven Fulop

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