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

The study of 369 college credit card agreements from 33 issuers found there were 65% fewer sponsored programs in 2014 versus in 2009, and the overall number of school-affiliated credit card accounts open dropped by 58% between 2009 and 2014. The study also found issuer payments to schools and affiliated organizations plummeted from $84.5 million in 2009 to just $34.1 million in 2014 – a decrease of 60%. Between 2013 and 2014 alone, issuers paid 20% less to partners, the CFPB found.

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Tina Orem

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