For Immediate Release: May 1, 2007
Senator Jim Reynolds
Bill to Restrict Student Info From Credit
Card Companies Heads to Gov.
A bill to keep Oklahoma college students’
names and addresses from being sold to credit card companies
has won final approval from the State Senate. Sen. Jim Reynolds
is the principal author of Senate Bill 496, which will now go
to Gov. Brad Henry for final consideration.
“We’ve had students right here in
Oklahoma who have committed suicide because of credit card debt,”
said Reynolds, R-Oklahoma City. “We want to do everything
in our power to protect students who are major marketing targets
for these credit card companies.”
Reynolds said reports indicate the average credit
card debt for college students in this country is $2,200. Often
the cards issued to students have high annual percentage rates,
making it even more difficult for students to get out of debt.
Reynolds said because of the federal Freedom
of Information Act, schools would still have to allow access
to student names and other information considered public record,
but that the bill would prohibit the selling of entire lists
of students for the express purpose of marketing credit cards.
Furthermore, students can opt out of having any information
released at all.
“Credit card debt has become a serious
problem on our college campuses,” Reynolds said. “This
bill was approved unanimously in the Senate and by a huge margin
in the House. I am hopeful that Governor Henry will join the
Legislature and sign SB 496 into law.”
For more information contact:
Senator Reynold's Office: (405) 521-5522