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Student Loans Ombudsman State and Local Government

Holland & Knight LLP

California Legislative Roundup 2020: Financial Services

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Notwithstanding a pandemic-induced winnowing of legislative priorities this year, California has passed a handful of new bills to regulate discrete areas of the financial services industry, including student loan servicing,...more

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New Jersey enacts licensing and other requirements for student loan servicers

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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

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Student loan servicers’ obligations under Maryland’s “Ombudsman Act” now in effect

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On September 28, 2018, the Maryland Commissioner of Financial Regulation issued a notice advising companies servicing student loans of Maryland borrowers to provide their contact information to the state’s new Student Loan...more

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Washington D.C. publishes final student loan servicing regulations

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The District of Columbia Department of Insurance, Securities, and Banking (DISB) published its final rules under the Student Loan Ombudsman Establishment and Servicing Regulation Amendment Act of 2016. ...more

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Maryland enacts law establishing Student Loan Ombudsman and significantly amends other consumer financial services statutes

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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

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Illinois lawmakers override governor’s veto of student loan servicing bill

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The Illinois House of Representatives and Senate have voted to override the veto by the state’s Republican governor of Senate Bill 1351, known as the Illinois Student Loan Servicing Rights Act. ...more

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D.C. belatedly releases Bill of Rights for student loan borrowers

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The District of Columbia Student Loan Ombudsman Establishment and Servicing Regulation Act of 2016 (Servicing Act) became effective February 18, 2017. The Servicing Act set an October 1 deadline for the Student Loan...more

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