CFPB Seeks Public Input on Safe Student Account Scorecard
January 26, 2015
As part of the growing attention the CFPB is paying these days to the marketing relationships between financial institutions and colleges and universities, the CFPB released for public comment a draft Safe Student Account Scorecard that offers information to institutions of higher learning when soliciting agreements from financial institutions to market safe and affordable financial accounts for their students.“The scorecard builds on prior work by the Federal Deposit Insurance Corp. and is designed to help colleges evaluate the costs and benefits to students of a financial product based on information about its features and how it is marketed,” said CFPB Director Richard Cordray. The bureau is seeking public input on the scorecard, which highlights four areas for schools to ...