Rule 50304: Student Debit Cards

1.  Title

Student Debit Cards 

2.  Rule and Regulation

Sec. 1  Delegation.   The Board of Regents delegates to each institution’s president the authority to establish a program to provide students enrolled at the institution with a debit card. The debit card program must comply with applicable State and federal law. Before implementing a debit card program at the institution, the president must obtain the prior approval of the Executive Vice Chancellor for Business Affairs. In addition, the president shall comply with applicable guidelines issued by the Office of General Counsel.

3.  Definitions

None

4.  Relevant Federal and State Statutes 

Texas Business & Commerce Code Chapter 761 – Credit Card Marketing at Postsecondary Educational Institutions
Texas Education Code Section 51.940 – Student Debit Cards
15 United States Code Section 1650(f)(1) contained in the Consumer Credit Protection Act
12 Code of Federal Regulations Section 1026.57(b) contained in Regulation Z Truth in Lending
34 Code of Federal Regulations Part 668 – Student Assistance General Provisions 

5.  Relevant System Policies, Procedures, and Forms 

Regents’ Rules and Regulations, Rule 80103 – Solicitation
The University of Texas Systemwide Policy UTS 167, Banking Services Policy 

6.  Who Should Know 

Administrators 

7.  System Administration Office(s) Responsible for Rule 

Office of Business Affairs 

8.  Dates Approved or Amended 

Regents’ Rules Revision History 

9.  Contact Information 

Questions or comments regarding this Rule should be directed to: 
•  bor@utsystem.edu