For the first time this year, Georgetown University students are using their identification cards to access funds in PNC checking, savings and money market accounts, The Washington Post reported. They can withdraw money from ATMs and make purchases both on and off campus.
The Credit Card Accountability Responsibility and Disclosure Act of 2009 included provisions that limited banks’ presence on university campuses and prohibited them from giving out gifts in exchange for credit cards, but had no such measures for debit cards, according to Rich Williams, higher education advocate for the U.S. Public Interest Research Group.
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