UPDATE: The CFPB has since revised its August 6 blog post toremove Indiana University Credit Union and Purdue Federal CreditUnion from its list of financial institutions that it alleged donot disclose financial agreements with partner universities ontheir websites.

The CFPB named four large credit unions affiliated withuniversities that do not disclose financial agreements on theirwebsites, and said they demonstrate a lack of transparency.

In the past, CFPB has pushed for banks and credit unions topublicly disclose any contracts they have with colleges anduniversities to market financial products to students.

“Making these agreements available for all financial productsshows schools' and companies' commitment to transparency, helpingstudents and their families understand basic information aboutthese products before you sign up,” wrote Rohit Chopra,CFPB student loan ombudsman, in blog post Wednesday.

After a review of 14 schools in the Big Ten, the CFPB discovered that 13 of them have financial agreements withbanking partners. Credit unions on the list included the $789million Indiana University Credit Union in Bloomington, Ind., the$2.6 billion Michigan State University FCU in East Lansing, Mich.,the $1.9 billion University of Wisconsin Credit Union in Madison,Wis., and the $824 million Purdue FCU in West Lafayette, Ind., werelisted among the institutions not making contracts publiclyavailable. The list also named eight banks and said at one school,Rutgers University, the banking partner was unknown.

“Of those 13, we were able to easily find only four contracts onthe partner websites, but three of those four contracts did notcontain important information, such as how much they pay schools togain access to students in order to market and sell them financialproducts and services,” said the CFPB blog post.

“Information about these arrangements is already requiredto be disclosed when marketing credit cards and private studentloans to students—these requirements were put in place aftercompanies were found to have paid schools and school officials inorder to steer students into these products,” the post alsosaid.

The CFPB said it is alerting school administrators that theirfinancial partner is not transparent with its student financialproducts.