Marketing of Credit Cards to Students Policy
| Policy Category | Issuing Authority | Responsibility | Publication Date | Next Review Date |
|---|---|---|---|---|
| Financial | Finance & Administration | Finance & Administration | 10/28/2025 | 10/28/2028 |
Policy Statement/Background:
Pursuant to Article 129-A of the New York State Education Law § 6437 (Prohibition on the marketing of credit cards) the advertising, marketing, or merchandising of credit cards to students by vendors is prohibited by the University, except those published in newspapers, magazines, or similar publications, or in accordance with the following guidelines detailed in this policy.
Policy:
Except as otherwise permitted in this policy, credit card advertising or solicitation
to students is not permitted on University premises. This includes advertising or
solicitation at campus vendor tables, as well as posting or distribution of applications,
fliers, posters, handbills and signage (electronic and otherwise) in University facilities.
The University's e-mail system or web pages may not be used for advertising or solicitation
of credit cards to students.
Banks, credit unions and other businesses approved to be present at student orientations/opening
of school weeks or other campus activities may not provide credit card applications
to students during those events.
No campus employee, student group, or campus department may accept financial support
or other goods and services from credit card issuers or vendors in exchange for allowing
them to market credit cards to students.
The University banking service providers may provide credit card applications at their
campus branch, as part of the array of services offered to students who are current
bank/credit union account holders. However, campus banking service providers may not
conduct special credit card promotions at any campus branch, including offering gifts
or prizes to students in exchange for credit card information, handouts or applications,
and must abide by the policies set forth above.
Credit card policies must be clearly displayed by the credit unions or banks at each
campus branch. Copies of the credit card policies must be distributed to all individuals
who receive or submit an application.
Definitions:
None
Contact:
Additional information about this policy is available here:
Office of Finance & Administration
221 Administration Building
Stony Brook, NY 11794
(631) 632-6100
