Governor Quinn to sign credit card law

A new law Gov. Pat Quinn plans to sign would clamp down on credit card marketing on college campuses.

Under the law, credit card companies wouldn't be able to give out T-shirts, gift cards or other freebies to entice students into signing up.

Quinn is expected to sign the legislation Tuesday afternoon at the downtown state office building where he works.

The legislation says cash-strapped college students are vulnerable to predatory lenders and lawmakers don't want students to be burdened by credit card debt.

Any Illinois college or university that enters into an agreement to market credit cards to students will also have to offer a financial education program so students understand the consequences of credit cards.