Senate Bill 525
Prohibiting institutions of higher education from engaging in certain activity regarding student credit cards, requiring such institutions to provide financial literacy information to students, creating requirements for credit cards issued to underage customers, granting rule-making authority, and providing a penalty
Topics: Credit, Educational Approval Board, Financial Institutions, Department of, Literacy, Parochial and private educational institutions, Technical College System Board, Trade practice, University of Wisconsin: Regents, University of Wisconsin: Student life
Stopped in committee
It never got a , so it never came up for a vote. To try again, a lawmaker would have to start a new bill.
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Introduced, passed
Feb 9, 2010
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Committee, stopped here
Stopped here. No public hearing was held.
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Senate vote, not reached
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Assembly vote, not reached
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Governor, not reached
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Law, not reached
Latest entry in the official record, Apr 28, 2010: “Failed to pass pursuant to ”
It never got a hearing in the Senate Committee on Veterans and Military Affairs, Biotechnology, and Financial Institutions. See every bill that never got a hearing this session.
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Terms on this page
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1. More in the glossary
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis. More in the glossary
Author
A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.
Official term: Author, coauthor. More in the glossary
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor. More in the glossary
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate. More in the glossary
What it would have done
Summary by the , the Legislature's nonpartisan drafting office. It's their wording, not ours.
This bill requires the Department of Financial Institutions (DFI) to promulgate rules prohibiting credit card issuers from doing the following: 1) offering a student at an institution of higher education (institution) any tangible item to induce the student to apply for a credit card or participate in an open-end credit plan offered by the issuer; or 2) engaging in any marketing of a credit card involving the physical presence of a representative of the issuer on the campus of an institution. Under the bill, "institution" has the same meaning as under a federal law dealing with similar issues as the bill, which includes public universities, private nonprofit universities, postsecondary proprietary schools, and postsecondary vocational schools.
The bill also requires DFI to promulgate rules prohibiting an institution, or department or other division of an institution, from receiving any payment or compensation for credit card marketing activity on a campus of the institution that is directed at the institution's students. The bill defines "campus" as the buildings, facilities, and grounds under the control of an institution that are primarily related to the institution's operation and related services and activities. Before promulgating any of the foregoing rules, the bill requires DFI to consult with the Board of Regents of the University of Wisconsin (UW) System, the Technical College System Board, the Educational Approval Board, and representatives of private institutions. The bill also prohibits the UW System and technical colleges from selling to or otherwise providing a credit card issuer the names, postal addresses, or electronic mail addresses of students, or engaging in any marketing on behalf of a credit card issuer that is directed at students. The bill defines "student" as an individual enrolled on a full-time or part-time basis. As a result, the bill's requirements do not apply to former students.
Read the full summary Show less
In addition, the bill requires each institution to provide information about financial literacy to its students on its Internet Web site and, if the institution offers an on-campus orientation program to new students, to provide the information to students during the orientation. Also, the bill requires an institution's students to complete an online tutorial on financial literacy. The bill does so by prohibiting an institution from allowing an enrolled student from enrolling in a subsequent semester, quarter, or term unless the student completes the tutorial.
The bill also creates requirements for extending credit to individuals who are less than 21 years old. Under the bill, a credit card may not be issued to, or an open-end credit plan established by or on behalf of, such an individual unless one of the following options is satisfied: 1) the application for the card or plan is cosigned by a parent, legal guardian, spouse, or other individual, who is 21 or older, has the means to repay debts, and indicates that he or she is jointly liable for debts incurred before the applicant turns 21; or 2) the applicant submits financial information indicating an independent means to repay debts. The bill requires DFI to promulgate rules for satisfying the second option. The rules must be consistent with regulations that the Board of Governors of the Federal Reserve System is required to promulgate under federal law. Also, if a cosigner described in the first option is jointly liable for credit card debt incurred by an individual who is not 21 years old, the bill prohibits credit increases unless the cosigner approves of the increase in writing and assumes joint liability for the increase.
Finally, except for the prohibitions regarding student information and credit card marketing that apply to the UW System and the technical colleges, the bill provides that a person who violates the bill or a rule promulgated by DFI under the bill is subject to a civil forfeiture of up to $5,000.
Who's behind it
5 senators are its . All 5 are Democrats.
15 more lawmakers .
See all 20 names Hide the names
Authors (5)
- Julie M. Lassa · Democrat, Senate
- John Lehman · Democrat, Senate
- Lena Taylor · Democrat, Senate
- Kathleen Vinehout · Democrat, Senate
- Bob Wirch · Democrat, Senate
Signed on in support (15)
- Annette Williams · Democrat, Assembly
- Chuck Benedict · Democrat, Assembly
- Terese Berceau · Democrat, Assembly
- Jason Fields · Democrat, Assembly
- Tamara Grigsby · Democrat, Assembly
- Gary Hebl · Democrat, Assembly
- Kim Hixson · Democrat, Assembly
- Sandy Pasch · Democrat, Assembly
- Mark Pocan · Democrat, Assembly
- Jon Richards · Democrat, Assembly
- Christine Sinicki · Democrat, Assembly
- Jeff Smith · Democrat, Senate
- Robert Turner · Democrat, Assembly
- Amy Sue Vruwink · Democrat, Assembly
- Leon Young · Democrat, Assembly
What it would cost
State agencies filed a . Each opens as a PDF from the Legislature.
What happened
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Apr 28, 2010
The session ended, and the bill died with it.
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Mar 19, 2010
A state agency sent in its estimate of the cost.
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Mar 5, 2010
A state agency sent in its estimate of the cost.
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Mar 3, 2010
A state agency sent in its estimate of the cost.
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Feb 25, 2010
A state agency sent in its estimate of the cost.
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Feb 9, 2010
Sent to the Senate Committee on Veterans and Military Affairs, Biotechnology, and Financial Institutions.
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Feb 9, 2010
Introduced in the Senate.
See the official record, word for word Hide the official record
- Feb 9, 2010 · Senate
Introduced by Senators Vinehout, Lehman, Lassa, Taylor and Wirch;Cosponsored by Representatives Smith, Hixson, Vruwink, Pasch, Pocan, Grigsby, Fields, Benedict, Richards, Turner, Sinicki, Young, Hebl, Berceau and A. Williams
- Feb 9, 2010 · Senate
Read first time and referred to committee on Veterans and Military Affairs, Biotechnology, and Financial Institutions
- Feb 24, 2010 · Senate
LRB correction
- Feb 25, 2010 · Senate
Fiscal estimate received
- Mar 3, 2010 · Senate
Fiscal estimate received
- Mar 5, 2010 · Senate
Fiscal estimate received
- Mar 19, 2010 · Senate
Fiscal estimate received
- Apr 28, 2010 · Senate
Failed to pass pursuant to Senate Joint Resolution 1
Terms on this page
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1. More in the glossary
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis. More in the glossary
Author
A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.
Official term: Author, coauthor. More in the glossary
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor. More in the glossary
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate. More in the glossary
From the Wisconsin Legislature's official record, checked Sep 15, 2026. See the source
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate