REPORTING GUIDE: Investigating College Credit Card Contracts

PUBLISHED 8:02 AM | 8 Jun 2010

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      WHAT TO WATCH FOR

  • Many schools will be slow to get back to you if you aren't persistent. Follow up every other day with a call or an e-mail if possible; the law requires disclosure in a "reasonable time frame." Be polite but persistent.
  • If the press office refuses your request because you don't work for a news organization, contact the school's budget office or government affairs office. The university is required to disclose the documents to any member of the public under the Truth in Lending Act.
  • School officials might say they can't provide the contract because it is administered through the alumni association. Don't worry. The law requires schools to disclose contracts administered through "alumni groups." If they refer you to an alumni association official, resubmit the request to both parties, emphasizing the disclosure rule. If the alumni association still won't cooperate, submissions [at] huffpostfund [dot] org (let us know).
  • In addition to the contract, request any addendum, attachments or other memorandum related to the agreement.

    •      (iStock photo by Brian A. Jackson)

     

     Steps for obtaining credit card contracts from colleges and universities:

    1. Call the school's press office and ask for the director. Tell them you are working on a story about college credit card agreements and want a copy of their school's contract or "affinity" agreement with a credit card company. Explain that these contracts are now public records under the new credit card laws that went into effect Feb. 22, 2010.

    2. Follow up with with an e-mail detailing your request. The school should preferably send you the documents electronically in response to your request. Here's a template for the e-mail: 

    I'm working on a story about  agreements that colleges have with credit card companies -- contracts that are now public under the new credit card laws that took effect in February. 

    I'm looking for all of the school's contracts or agreements (sometimes known as "Affinity Agreements") made with credit card companies. I also want to make sure we have all the up-to-date contract info, so please include any cover letters, attachments, addendum or amendments that reflect the current terms of the contracts. If the school no longer participates in certain aspects of the agreements, please specify the changes.

    Finally, if the contracts are through the alumni association, please send me the contract and any memorandum of understanding between the school and the association.

    Under the Truth in Lending Act §140(f)(1), implemented by Regulation Z § 226.57(b), as an institution of higher education you are required by law to publicly disclose any and all credit card marketing contracts or other agreements made with card issuers or creditors for the purposes of marketing credit cards to students. For your reference, I'm including a link to the legislation at govtrack.us (see sections 304 and 305).

    My deadline for this is [date] and the new credit card regulations require a prompt response. I would prefer an electronic copy (PDF) of the documents. Please let me know if you have any questions, and thank you for your help.

    Sincerely,
    [Your Name]

    3. When you've received the contract, e-mail a copy to us at submissions [at] huffpostfund [dot] org.  If you have any trouble getting information from the school or have any other questions,  submissions [at] huffpostfund [dot] org (subject: College_Contracts_Help, amp, cc: bprotess [at] huffpostfund [dot] org) (just shoot us an e-mail.) 

    To see what a contract looks like, see our table of affinity agreements.

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