Three credit unions notified the Federal Reserve Board about their card issuing in association with colleges or universities in 2009.
The Credit Card Accountability, Responsibility, and Disclosure Act of 2009 required card issuers that have card issuing relationships with educational institutions and their affiliated organizations like alumni groups to disclose those agreements.
The card issuers had to reveal how much they paid the educational institution as part of the card deal in 2009, how many new accounts were opened at the educational institution and how many total accounts the issuer had opened with the institution.
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