NEW YORK -- The practice of credit card affinity market and agent issuing with colleges and universities has begun to come under scrutiny in the current economic crisis, according to a story in the New York Times.

The Jan. 1 story described how consumer advocates and student associations have been investigating these deals and criticizing them for not being transparent and for leading students to make poor financial decisions.

In these deals, which some credit unions have made as well, the colleges or universities receive a share of the interchange and/or the finance charges and often a reward for every time a new card account is opened. The cards usually carry the university's logo or brand as well.

In defense of the programs, the article quotes officials from colleges and universities who pointed out that the deals with the credit card issuers were usually with their alumni associations and only tangentially involved student accounts. But the article pointed out that many colleges and universities provide student information to credit card issuers to help the market the cards.