On January 3, 2018, in compliance with the Credit Card Accountability, Responsibility and Disclosure Act (“CARD Act”), the CFPB published its annual report to Congress regarding agreements between institutions of higher education and affiliated organizations (such as fraternities, sororities, and alumni organizations). The CARD Act requires credit card issuers to annually submit to the CFPB the terms and conditions of all college credit card agreements in effect during any part of the preceding year that were entered into between the issuers and affiliated organizations.

The report identified several recent trends. First, in 2016, the number of these types of credit card agreements decreased along with the number of accounts opened pursuant to such agreements. Second, while higher education institutions have regained some market share, alumni associations continue to dominate the market for these types of agreement. Third, the largest few agreements continue to increase their market share, with the ten most lucrative agreements representing an unprecedented 43% of all payments by issuers. 

To read this report visit: https://www.consumerfinance.gov/documents/5948/cfpb_ college-credit-card-agreements-report_2017.pdf