Ohio Considers Crack-Down On Credit Card Marketing Tactics

COLUMBUS–The Ohio House of Representatives has voted to approve a bill that would crack down on credit card marketing tactics that target Ohio's young adults, following a recent report from the Ohio Credit Union League that indicated more students drop out of college as a result of bad credit than academic failure."We must give students the safeguards they need to protect their financial future," the bill’s sponsors said in a press release. "In these trying economic times, it is especially important that our young people are not vulnerable to enormous debt, which takes a long time to pay off and even forces some students to drop out of school. Now more than ever, Ohio needs a well-educated workforce to turn around our economy."Currently Ohio has no law that regulates the marketing of credit cards to college students. The bill will now be considered by the Ohio Senate.