Penn State, University Of Michigan Get Big Payouts From Issuers In 2013

The alumni associations of Penn State and the University of Michigan are among a number of college-based organisations that received millions of dollars from credit card issuers in 2013, The Consumerist reported on December 20.

FIA Card Services, owned by Bank of America, paid out millions of dollars to higher education institutions across the United States. Penn State’s alumni association received nearly $2.8 million, while the group from the University of Michigan received $1.8 million.

Chase Bank and GE Capital Retail Bank were also cited in the report. Chase gave roughly $1.5 million to University of Tennessee while GE Capital gave $1.1 million to Boston College this year.

Read the rest of the report’s findings by clicking here.

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