While laws exist to protect credit card holders, many feel that credit card companies and those entrusted with credit card information are also ethically bound to respect customers' right of privacy, keep their information secure and use principled marketing practices to secure new customers.
The University of Central Florida requires employees to sign a "Credit Card Security Ethics Certification." This document obligates employees to take responsibility for the security of information obtained from credit card holders.
The fourth amendment to the U.S. Constitution states, "The right of people to be secure in their persons, houses, papers and effects, against unreasonable searches and seizures, shall not be violated..." This implied right, it is argued, suggests that credit card companies must protect the privacy of information supplied to them by their customers by not sharing it without the express consent of the card holder.
Student debt levels are rising and predatory marketing practices may be responsible. A 2001 article in the "Journal for Services Marketing" calls for ethical marketing practices on college campuses. Moreover, because the credit card companies need the new influx of business supplied by college students, the article suggests that they are ethically responsible for educating students about credit and debt issues.
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