Fewer colleges are sponsoring credit card programs these days,and those that do are likely breaking the law when it comes todisclosures, according to the CFPB's sixth annual report oncollege credit card agreements.

The study of 369 college credit card agreements from 33 issuersfound there were 65% fewer sponsored programs in 2014 versus in 2009, and theoverall number of school-affiliated credit card accounts opendropped by 58% between 2009 and 2014. The study also found issuerpayments to schools and affiliated organizations plummeted from$84.5 million in 2009 to just $34.1 million in 2014 – a decrease of60%. Between 2013 and 2014 alone, issuers paid 20% less topartners, the CFPB found.

However, the number of new accounts opened per year was actually12% higher in 2014 than in 2009, according to the CFPB. One reason:Only about one quarter of agreements in 2014 were actually betweenissuers and schools, the CFPB said.