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2019 Regular Session
At the request of: (at the request of Attorney General Ellen F. Rosenblum)
Chief Sponsors:
Regular Sponsors:
Bill Title: Relating to student loan servicers; declaring an emergency.
Catchline/Summary: Requires certain persons that service student loans in this state to obtain or renew license.
Specifies license application and renewal procedures and required fees. Prescribes duties of licensee and requires licensee to maintain specified liquidity, operating reserves and tangible net worth. Prescribes civil penalty against person that engages in business as student loan servicer without license. Permits Director of Department of Consumer and Business Services to participate in multistate examinations under specified circumstances. Becomes operative January 1, 2020. Declares emergency, effective on passage.
Chapter Number:
Fiscal Impact: May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact: May Have Revenue Impact, But No Statement Yet Issued
Measure Analysis: Staff Measure Summary / Impact Statements
Current Location: In House Committee
Current Committee: House Committee On Business and Labor
Current Subcommittee:
Subsequent Referral(s):
Potential Conflicts of Interest/Vote Explanations: Potential Conflicts of Interest/Vote Explanation Documents
Measure History
Scheduled Events