3/8/2018 12:55:00 PM House
committee approves ban on credit car marketing
SPRINGFIELD, Ill. (AP) — An Illinois House committee has approved a bill that would prevent credit card companies from marketing their products on public university and community college campuses.
Despite passing the legislation, some committee members of both parties were questioning whether the bill was necessary.
State Rep. Sue Scherer of Decatur co-sponsored the bill. Scherer says the legislation would help reduce predatory behavior that leads to students signing up for credit cards that will later cripple them with debt. But she says it still needs work and has promised to fix drafting errors.
Lobbyists from the banking industry oppose the bill, arguing that it’s an ineffective approach. The University of Illinois System and the Illinois Community College Board are taking no position on the legislation.