News & Analysis as of

Loan Servicer Licensing Rules

Mayer Brown

Wisconsin Expands Scope of Consumer Loan Licensing Provisions

Mayer Brown on

In addition to the states that, similar to Washington, have adopted “true lender” provisions, several states have recently enacted changes to their consumer loan licensing laws that expand the scope of the licensing...more

Ballard Spahr LLP

Kentucky enacts licensing requirement for servicers of private and federal student loans

Ballard Spahr LLP on

Kentucky recently enacted HB 494, titled the “Student Education Loan Servicing, Licensing, and Protection Act of 2022,” which will require student education loan servicers to be licensed in Kentucky.  The Act applies to...more

Hudson Cook, LLP

Massachusetts Issues Student Loan Servicing Conduct Rules

Hudson Cook, LLP on

In last month's issue of Insights we discussed a new licensing regime in the Commonwealth of Massachusetts specific to student loan servicers. As of the publication date of that article the rules such servicers must follow...more

Hudson Cook, LLP

Massachusetts About to Join the Ranks of States Licensing Student Loan Servicers

Hudson Cook, LLP on

The Commonwealth of Massachusetts is aiding student loan consumer protection efforts, and is ramping up the level of scrutiny applied to student loan servicers. Effective July 1st, it will join a growing list of states that...more

Alston & Bird

New Jersey Releases Application Procedures for Student Loan Servicers

Alston & Bird on

A&B ABstract: As we have previously discussed, effective November 27, 2019, Senate Bill 1149 (2019 N.J. Laws 200) (the “Act”), creates New Jersey’s “Student Loan Bill of Rights” and prohibits any person from “act[ing] as a...more

Ballard Spahr LLP

Colorado Issues Student Loan Servicer License Applications

Ballard Spahr LLP on

The Colorado Attorney General’s Office recently published licensing applications for entities that are engaged in servicing student loans owed by Colorado residents....more

Hudson Cook, LLP

Regulation of Student Loan Servicers - Recent Enactments and a Look Ahead at Pending Legislation

Hudson Cook, LLP on

The May 2019 issue of Insights provided high-level background information about the recent trend of state legislation targeting student loan servicers. In the June 2019 issue of Insights, we took a deeper dive into New York's...more

Ballard Spahr LLP

NY Dept. of Financial Services issues proposed student loan servicer regulations

Ballard Spahr LLP on

The New York Department of Financial Services (NYDFS) has issued proposed regulations to implement the legislation enacted in April 2019 that requires servicers of student loans to be licensed, imposes servicing standards,...more

Ballard Spahr LLP

New Jersey enacts licensing and other requirements for student loan servicers

Ballard Spahr LLP on

On July 30, 2019, Acting New Jersey Governor Sheila Oliver signed into law SB 1149, which requires student loan servicers to be licensed, creates an Office of the Student Loan Ombudsman within the NJ Department of Banking and...more

Hudson Cook, LLP

New York Student Loan Servicers Law: A Deeper Dive

Hudson Cook, LLP on

The May 2019 issue of Insights included discussion of a growing trend to regulate student loan servicers. Currently, there are a handful of states that impose requirements specifically on such parties. However, the ranks of...more

Goodwin

Mortgage Lender Agrees to Pay $2 Million Administrative Penalty to Massachusetts Commissioner of Banks

Goodwin on

On September 21, 2016, a mortgage lender settled an action brought by the Massachusetts Commissioner of Banks by stipulating to the entry of a consent order to resolve claims of “alleged non-compliance with applicable...more

11 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide