New York Attorney General Andrew Cuomo is seeking information about contracts that colleges and universities in the state have with card issuers as part of an investigation into deceptive marketing tactics, according to AmericanBanker.com.
The office sent letters to approximately 300 schools questioning any exclusive contracts that they may have with debit and credit card issuers. The investigation stems from a nationwide investigation into the student loan industry the office started in 2007.
Schools have agreed with issuers to market affinity cards to alumni associations and students “with little or no evaluation of the terms or rates of the cards that could be marketed to students,” said Cuomo.


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Grove City College, Pa, and PNC Bank have formed a relationship to give personal banking products and services to more than 2,900 students, faculty and staff. 




