UM: Credit Cards

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BusinessWeek reports on how colleges credit card deals will be affected by recent legislation signed into law last week. The article states that the new law “does little to address affinity-card contracts, which encourage colleges and universities to sell students’ contact information to credit-card companies….Students at the University of Michigan, for example, probably aren’t aware that their e-mail addresses and contact information are worth a whopping $25.5 million. That’s how much Bank of America is paying the Michigan Alumni Assn. over an 11-year affinity-card contract to market school-branded plastic to students, alums, and sports fans.” [Source]