Credit Cards for Youth
WHEREAS, many businesses are engaged in the practice of predatory lending and the issuance of credit cards to youth under the age of 18, college student and other young adults who are without adequate income to repay the debt; and
WHEREAS, many African-American youth are adversely affected when they are unable to make payments on their loans and credit card balances; and
WHEREAS, a poor credit rating can lead to denial of employment and also negatively impact their future livelihood.
THEREFORE, BE IT RESOLVED, that the NAACP and its Units call upon the United States Congress and state legislature to change these predatory lending practices; and
THEREFORE, BE IT FINALLY RESOLVED, that the NAACP and its Units call upon the United States Congress and state legislature to request that institutions include credit card education in the form of a pamphlet, prior to issuing credit cards.