Page:United States Statutes at Large Volume 123.djvu/1770

 123STA T . 1 750PUBLIC LA W 111 – 2 4—M A Y 22, 200 9ident i f ied w it hsuc h instituti o n , o rga ni z ation, or foundation .‘ ‘ (B)COL L EG E STUD E N T CR ED I TC A RD ACCOUNT. —T he ter m ‘co l lege student credit card account ’ means a credit card account under an o p en end consumer credit plan esta b lished or maintained for or on behalf of an y college student. ‘‘(C) COLLEGE STUDENT.—The term ‘college student’ means an indi v idual who is a full - time or a part-time student attending an institution of higher education. ‘‘( D ) I NSTITUTION O FH IGHER EDUCATION.—The term ‘institution of higher education’ has the same meaning as in section 10 1and10 2 of the H igher E ducation A ct of1 965 (20 U . S .C. 1001 and 1002). ‘‘(2) R E P ORTS BY CREDITORS.— ‘‘(A) IN GENERAL.—Each creditor shall submit an annual report to the Board containing the terms and condi- tions of all business, mar k eting, and promotional agree- ments and college affinity card agreements with an institu- tion of higher education, or an alumni organization or foundation affiliated with or related to such institution, with respect to any college student credit card issued to a college student at such institution. ‘‘(B) DETAILS OF REPORT.—The information re q uired to be reported under subparagraph (A) includes— ‘‘(i) any memorandum of understanding between or among a creditor, an institution of higher education, an alumni association, or foundation that directly or indirectly relates to any aspect of any agreement referred to in such subparagraph or controls or directs any obligations or distribution of benefits between or among any such entities ‘‘(ii) the amount of any payments from the creditor to the institution, organization, or foundation during the period covered by the report, and the precise terms of any agreement under which such amounts are deter- mined; and ‘‘(iii) the number of credit card accounts covered by any such agreement that were opened during the period covered by the report, and the total number of credit card accounts covered by the agreement that were outstanding at the end of such period. ‘‘(C) AGGREGATION BY INSTITUTION.—The information required to be reported under subparagraph (A) shall be aggregated with respect to each institution of higher edu- cation or alumni organization or foundation affiliated with or related to such institution. ‘‘(D) INITIAL REPORT.—The initial report required under subparagraph (A) shall be submitted to the Board before the end of the 9-month period beginning on the date of enactment of this subsection. ‘‘( 3 ) REPORTS BY BOARD.—The Board shall submit to the Congress, and make available to the public, an annual report that lists the information concerning credit card agreements submitted to the Board under paragraph (2) by each institution of higher education, alumni organization, or foundation.’’. (b) STUDY AND REPORT BY THE CO M PTROLLER G ENERAL.— 15USC 1 637note.Public in f o rma tion. T ime p erio d .