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2018 Regular Session



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

Sponsored by:

Senator Feldman


In the Senate - Recommitted to Finance (Senator Rosapepe)

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:Senators Feldman, Benson, Guzzone, Lee, Madaleno, Peters, Robinson, and Zucker
Additional Facts:Cross-filed with: HB1642
Bill File Type: Regular
Effective Date(s): October 1, 2018
Finance  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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Explanation of Floor Motions and Actions

April 5, 2018 5:19 P.M.