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| To enact sections 3345.86 and 3345.87 of the | 1 |
| Revised Code to require institutions of higher | 2 |
| education to provide financial literacy education | 3 |
| to students and adopt and adhere to policies | 4 |
| regarding credit card marketing on campus. | 5 |
| Section 1. That sections 3345.86 and 3345.87 of the | 6 |
| Revised Code be enacted to read as follows: | 7 |
| Sec. 3345.86. (A) The board of trustees of every private and | 8 |
| state institution of higher education in this state, or any | 9 |
| alternative governing board of such an institution, shall adopt | 10 |
| and adhere to a policy regarding the marketing of credit cards | 11 |
| on property owned or operated by the institution of higher | 12 |
| education. The policy shall do both of the following: | 13 |
| (1) Prohibit campus credit card marketing activities; | 14 |
| (2) Require credit card marketers to register with the | 15 |
| institution of higher education prior to engaging in credit card | 16 |
| marketing that is excluded from the definition of campus credit | 17 |
| card marketing activity under division (B)(3)(b) of this section | 18 |
| and permitted by the institution of higher education. | 19 |
| (B) As used in this section: | 20 |
| (1) "State institution of higher education" has the same | 21 |
| meaning as in section 3345.011 of the Revised Code. | 22 |
| (2) "Campus" means the land and buildings located in this | 23 |
| state that a private or state institution of higher education | 24 |
| uses for instruction or student services. | 25 |
| (3)(a) "Campus credit card marketing activity" means any | 26 |
| activity conducted by an agent or employee of a card issuer that | 27 |
| meets both of the following criteria: | 28 |
| (i) The activity is designed to encourage and enable | 29 |
| students to apply for a credit card and includes the act of | 30 |
| placing on the campus a display or poster together with a form | 31 |
| that can be returned to the card issuer as a credit card | 32 |
| application, even if an employee or agent of the card issuer is | 33 |
| not present at the display; | 34 |
| (ii) The activity is conducted in this state on property | 35 |
| owned or operated by, located on the campus of, or at an event | 36 |
| sanctioned by a private or state institution of higher education. | 37 |
| (b) "Campus credit card marketing activity" does not include | 38 |
| any of the following activities: | 39 |
| (i) Those that are conducted inside the office or other place | 40 |
| at which a bank, savings and loan association, savings bank, or | 41 |
| credit union organized under the laws of the United States or any | 42 |
| state of the United States receives money or its equivalent from | 43 |
| the public for deposit and conducts the general business of the | 44 |
| institution, or at an automated teller machine or other money | 45 |
| transmission device owned, leased, or operated by any of those | 46 |
| institutions; | 47 |
| (ii) Displaying a company logo or otherwise advertising a | 48 |
| business in a manner that does not encourage and enable students | 49 |
| to apply for a credit card, including television, radio, and | 50 |
| print advertisements that are intended for the general public; | 51 |
| (iii) Mailing a credit card offer or advertisement to any | 52 |
| residence, even if the residence is located on property owned or | 53 |
| operated by a private or state institution of higher education; | 54 |
| (iv) Marketing a credit card at an athletic or entertainment | 55 |
| event that is sanctioned by a private or state institution of | 56 |
| higher education or located on property owned or operated by a | 57 |
| private or state institution of higher education, provided that | 58 |
| the person marketing the credit card does not knowingly accept a | 59 |
| credit card application from an undergraduate student. To | 60 |
| determine whether a person is an undergraduate student, the credit | 61 |
| card marketer may rely on the person's statement that the person | 62 |
| is or is not an undergraduate student. | 63 |
| (4) "Credit card" and "card issuer" have the same meanings as | 64 |
| in section 1602 of the "Truth in Lending Act," 82 Stat. 146 | 65 |
| (1968), 15 U.S.C. 1601, except that "credit card" does not | 66 |
| include a debit card or other access device that is a means to | 67 |
| withdraw funds or initiate an electronic funds transfer from a | 68 |
| deposit account. | 69 |
| Sec. 3345.87. (A) Every private and state institution of | 70 |
| higher education in this state shall offer financial literacy | 71 |
| education to students enrolled in the institution of higher | 72 |
| education, either as part of student orientation or during the | 73 |
| students' first grading period. | 74 |
| (B) Any state institution of higher education that receives | 75 |
| funds from an agreement between the institution of higher | 76 |
| education, or its alumni organization, and another entity to | 77 |
| market credit cards to current or former students of the | 78 |
| institution of higher education shall use a portion of those funds | 79 |
| to pay for all or part of the costs associated with providing | 80 |
| financial literacy education under this section. | 81 |