Released: October 07, 2007

Iowa universities won’t divulge credit card agreements

Source: Clark Kaufman, DeMoines Register

Two state universities are refusing to disclose to the Iowa Board of Regents their credit-card marketing agreements with Bank of America.

The agreements are believed to be similar to those at many schools and universities nationwide, but they’re also part of an increasingly controversial effort by schools to promote and profit from credit cards marketed to students and alumni.

Each of Iowa’s three state universities made public new details of their credit card programs late Friday in response to a series of questions posed by the Board of Regents. However, officials at the University of Northern Iowa and the University of Iowa did not provide the regents with copies of their alumni associations’ contracts with Bank of America.

But records released by the three universities show:

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