Congressional Democrats Call for Tighter Debit Card Rules

April 24, 2014

Two dozen Democratic members of Congress on Wednesday called on the Education Department to enact tighter regulations on campus debit cards. In a letter to Education Secretary Arne Duncan, the lawmakers urged the department to create rules that would prohibit any college-affiliated debit cards that students use to access federal student aid from charging fees. They also urged the department to enact a ban on revenue-sharing arrangements between debit card providers and colleges.

A negotiated rule making panel is meeting in Washington this week for the second of four scheduled sessions aimed at hammering out rules on campus debit cards, among other issues.  If the panel does not come to unanimous agreement on the package of rules, the Education Department is free to proceed with new regulations on its own. 

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