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2018 Regular Session



Commissioner of Financial Regulation - Student Education Loans - Ombudsman and Licensing of Servicers

Sponsored by:

Delegate Frick


In the House - Hearing 2/16 at 1:00 p.m.

Synopsis:Requiring the Commissioner of Financial Regulation to designate an individual to serve as the Student Loan Ombudsman; establishing the duties and responsibilities of the Student Loan Ombudsman; requiring the Ombudsman, in consultation with the Commissioner, to establish a certain student loan borrower education course with certain requirements; prohibiting a person from engaging in student education loan servicing unless the person is licensed by the Commissioner or is exempt from licensing; establishing application requirements; etc.
Analysis:Fiscal and Policy Note
All Sponsors:Delegates Frick, A. Miller, Barkley, Barve, Brooks, Chang, Fennell, Frush, Gutierrez, Hayes, Healey, Hettleman, C. Howard, Jalisi, Korman, Krimm, Lam, J. Lewis, Lierman, Lisanti, McComas, McIntosh, Moon, Rosenberg, Stein, Tarlau, Turner, Valentino-Smith, and K. Young
Additional Facts:Cross-filed with: SB1012
Bill File Type: Regular
Effective Date(s): October 1, 2018
Economic Matters  View Committee Hearing
Broad Subject(s):Financial Institutions
Business Regulation and Occupations
Higher Education
Narrow Subject(s):Committees and Commissions -see also- Political Committees
Consumer Protection -see also- Unfair Trade Practices
Criminal Background Investigations
Debt Collection -see also- Attachments and Garnishments
Debt Management
Education -see also- Driver Ed; Higher Ed; Special Ed; etc
Fees -see also- Attys' Fees; Devt Fees & Taxes; Reimb Rates
Financial Regulation, Division of
Higher Education -see also- Comm Colleges; Med Schools; etc.
Investigations and Inquiries -see also- Crim Bckgrnd Invest
Licenses -see also- Alcoholic Bev Lic; Drivers' Licenses
Loans -see also- Mortgages
Postal Service
Records -see also- Land Records; Vital Records
Scholarships and Student Financial Aid
Statutes:Article - Financial Institutions
(12-1101 through 12-1122, 2-104.1)

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February 19, 2018 9:52 A.M.