March 19, 2008

Wyden to discuss new credit card rating legislation at SOU on Thursday

The new program would create a five-star rating program based on ease of understanding credit card applications

Ashland, OR - Southern Oregon University students and administrators will join Oregon Senator Ron Wyden on Thursday, March 20, 2008, for a roundtable discussion and news conference on legislation that will give consumers, particularly college students, a valuable new tool to determine the difference between good and bad credit cards.

Wyden introduced The Credit Card Safety Star Act of 2007 (S. 2411) along with co-sponsored Illinois Senator Barack Obama.

At the news conference, students and administrators will be available to discuss their experiences with credit card solicitations and debt in a time of rising tuition costs. College students are being deluged with complex solicitations from credit card companies. According to administrators, some debt-ridden students are forced to choose between mounting debt and dropping out of school.

Under Senator Wyden's bill, credit card agreements would receive a low of one star to a high of five stars based on how easy the terms are to understand. The stars would appear on the cards themselves as well as on the applications.

WHO: Oregon Senator Ron Wyden; Brian Fox, ASSOU Student Senate Pro-Tem; Jonathan Eldridge, vice president for student affairs, Southern Oregon University; Sayla Eisner-Mix, OSPIRG

WHAT: News conference preceded by roundtable discussion

Thursday, March 20, 2008
- 10 a.m., Senator Wyden meets with students, administrators to discuss credit card problems.
- 10:30 a.m., news conference

WHERE: Southern Oregon University, Stevenson Union (west entrance near University Way), 3rd floor lobby, The James Sours Student Leadership Center