The deadline is approaching for Gov. Schwarzenegger to sign a bill into law that would severely limit the ability of credit card companies to market their product to students on public campuses.
The deadline is Sunday, and if the governor doesn’t sign the bill it will automatically go into law and he hasn’t yet indicated how he feels about the bill.
This bill should be signed ““ the state should be taking measures to protect its public school students from unwanted debt and predatory marketing on campuses.
But the effectiveness of this bill is questionable.
It would ban card companies from offering silly gifts like a stuffed animal or a toaster to students in exchange for signing up, but card companies have a bevy of other questionable marketing options they use ““ such as pre-approved cards or low introductory interest rates.
Companies can also market to students off campus, like they do here at UCLA, and still offer the same questionable gifts and incentives without penalty.
Though it would be a good step, ultimately this bill wouldn’t do much to thwart predatory practices directed at students.