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Press Release
October 25, 2010

Federal Reserve releases report on college credit
card agreements
For immediate release
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The Federal Reserve Board on Monday released a report that contains
payment and account information about more than 1,000 agreements
between credit card issuers and institutions of higher education or
affiliated organizations that provide for the issuance of credit cards to
students. The Board also launched an online database with additional
information such as the terms of these agreements.
The Credit Card Accountability Responsibility and Disclosure Act of
2009 ("Credit CARD Act") requires issuers to submit to the Board
annually their agreements with educational institutions or affiliated
organizations, such as alumni associations. For each agreement,
issuers are also required to submit information regarding payments
made to the institution or organization and the number of accounts
opened under the agreement. The Board's report covers 1,044
agreements that were in effect during 2009. Among other things, the
report lists the largest agreements by the dollar amount of payments
made to the institution or organization during 2009, by the total number
of accounts opened under the agreement during 2009, and by the total
number of accounts opened under the agreement that remained open at
the end of 2009 (regardless of when the account was opened). It is
available online (325 KB PDF).
A new online database,
www.FederalReserve.gov/CollegeCreditCardAgreements, provides

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additional information about the agreements. Users can access the
complete agreement text in PDF format and see the information
submitted by card issuers regarding payments and accounts. Users may
also search for agreements by card issuer, by educational institution or
organization, or by the city or state in which the institution or
organization is located.
Because card issuers' submissions to date cover only agreements in
effect during 2009, the Board's report and website do not provide
information regarding revisions made to those agreements in 2010.
Issuers' 2010 agreements will be included in their 2011 submissions and
the subsequent Board report and updated database.

Last Update: October 25, 2010

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