Comment on CFPB-2013-0003-0001

Document ID: CFPB-2013-0003-0015
Document Type: Public Submission
Agency: Consumer Financial Protection Bureau
Received Date: March 02 2013, at 12:00 AM Eastern Standard Time
Date Posted: March 4 2013, at 12:00 AM Eastern Standard Time
Comment Start Date: February 5 2013, at 12:00 AM Eastern Standard Time
Comment Due Date: March 18 2013, at 11:59 PM Eastern Standard Time
Tracking Number: 1jx-83z3-l0iw
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This is comment on Notice

Financial Products Marketed to Students Enrolled in Institutions of Higher Education

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In Response to: (f) What percentage of students sign up for student banking from banks and credit unions that are located on or in close proximity to the campus? The nearest bank to the university I attended to earn my BA was Bank of America. BoA was the only bank that operated ATMs on the school campus. As a result almost every one of my classmates opened an account at BoA. Most still have their original BoA debit/credit accounts, if not additional accounts at BoA as well. Any group of students that attends school outside of a major city (as opposed to within a major city where a variety of ATMs can be easily accessed) will open an account with the bank that operates the closest branch/ATMs. I've observed this phenomena at most other non-urban schools I've visited.