Sec. 761.101. CREDIT CARD ISSUER TO DEVELOP FINANCIAL EDUCATIONAL MATERIAL. A credit card issuer who conducts campus credit card marketing activities shall develop financial educational material in consultation with or subject to approval by the postsecondary educational institution. The financial educational material must include a clear and practical explanation of:
(1) effective money management skills, including how to develop and maintain a budget;
(2) key financial terms and phrases related to credit cards and personal debt management;
(3) credit educational materials and programs offered by the credit card issuer that are available to student cardholders after they have opened an account;
(4) resources to assist students in understanding credit reports and credit scores and the consequences of irresponsible credit card use; and
(5) the importance of responsible credit practices, including timely paying the minimum amount due each month and reducing costs by paying as much of the balance as possible.
Added by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 4.014(a), eff. September 1, 2009.
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