More Credit Card Law Analysis

So I did a little more research, here's an update on a few specific provisions relating to students:

PROVISION: Students may not be offered gifts in exchange for completing credit card applications.
RATING: Don't like it, but probably a net gain.
ANALYSIS: This seems like it hurts the responsible people and helps the irresponsible people. There are probably a lot more irresponsible students than knowledgeable and fiscally responsible students, so I think it might be a net societal gain by making it harder to get the irresponsible students addicted to debt, as they say. That said, I don't like the idea of punishing the responsible at the expense of the irresponsible. Just as it's easier for a credit card company to take advantage of a student, it's also easier for a responsible and cunning student to take advantage of credit card companies--by getting free stuff in exchange for what they were going to do anyway (that is, get a credit card and be responsible about it). It also restricts freedom and limits consumer choice. So from a philosophical standpoint I'm opposed to it, and it does hurt people like me, but I think I have to admit that even I expect this provision to produce some slight net benefit for the country.

PROVISION: Universities will now be required to disclose marketing agreements made with credit card issuers. Credit card companies will likewise be required to report donations and other financial transactions with universities and alumni associations.
RATING: Good
ANALYSIS: If a student's school is in a business relationship with the company offering credit cards on campus, disclosing that may take away what a student sees as an implicit endorsement. It reveals conflicts of interest, does nothing to restrict freedom or choice, and provides information to consumers. I think there are great principles involved here, and the only reason I didn't rate it higher than "Good" is because I'm not sure how big a difference this will make. But there's no downside, so it's worth a shot.

PROVISION: "Calls on" the Government Accountability Office to conduct a review of the impact of university/credit card company business relationships on student credit card debt.
RATING: Good
ANALYSIS: No "thou shalt not..." regulation in this part. It just asks the GAO to look into how big a factor these currently unseen deals are when it comes to helping and hurting students with credit, credit cards and debt. The disclosure requirements should make the studies easier to do, and it might provide some insights that make future regulation and legislation better. I'll upgrade this to a "Great" if we also use the opportunity to learn about financial education needs and how to improve that education in this country.