Mary Wisniewski, American Banker, April 27, 2016

Students used to leave college with two artifacts of their first experiments with credit — free T-shirts and, for better or worse, a credit file. Today they are leaving without either. The Credit Card Accountability Responsibility and Disclosure Act of 2009 severely narrowed the industry’s ability to market or issue cards to anyone under the age of 21, causing banks and credit card companies to drastically reduced their peddling of credit products to college students. Following the financial crisis, credit to younger people is now being eyed by tech startups. […read more]