Can a company confiscate something they don't own? Seeking some informed opinions...

I actually contacted them and got them to mail me my card back. They say they have an agreement with the school which says they can confiscate the cards. I tried confirming that with the school, but it was Friday at the time and everyone had gone home for the weekend. I’ll confirm that next week.

Hey Bo, what Univ. do you attend?

McMaster University.