The Washington State Department of Financial Institution (DFI) has published proposed revisions to its student loan servicer regulations. This proposal would amend rules that went into effect earlier this year pursuant to...more
9/17/2019
/ Consumer Financial Products ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Loan Servicer ,
Proposed Amendments ,
Regulatory Agenda ,
Regulatory Standards ,
Rulemaking Process ,
State and Local Government ,
Student Loans
We can add Maine to the list of states to have enacted a “Student Loan Bill of Rights” that requires student loan servicers to be licensed. On June 20th, Maine Governor Janet Mills signed into law LD 995, “An Act To Establish...more
Colorado and Maryland have each enacted legislation regulating student loan servicers. On May 13, Colorado Governor Jared Polis (D) signed into law SB 19-002, and that same day, Maryland Governor Larry Hogan (R) signed HB...more
Ohio Governor John Kasich on Monday signed into law tough new restrictions on small-dollar lending. It will take at least 270 days until licensed lenders are required to comply with the limitations in the new law. ...more
On May 15, Maryland Governor Larry Hogan signed into law a bill that, among other things, establishes the role of Student Loan Ombudsman within the Office of the Commissioner of Financial Regulation and sets forth various...more
Washington has become the latest state to impose a licensing requirement on student loan servicers. Last week, Governor Jay Inslee signed SB 6029, which establishes a “student loan bill of rights,” similar to the bills that...more
Earlier this week New York Attorney General Eric Schneiderman sent a letter to select state legislators adding his backing to the creation of a licensing regime in New York for student loan servicing, similar to what has been...more