Relating to student loan servicers; declaring an emergency.
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2019
Committee Review
Floor Vote
Governor
Introduced Jan 14, 2019
Last action Jul 1, 2019
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
4
Key actions
1
Committee
2
Jul 1, 2019
Lower · Passed
In committee upon adjournment.
lower
Jan 15, 2019
Committee
Referred to Business and Labor with subsequent referral to Ways and Means.
lower
Jan 14, 2019
Introduced
First reading. Referred to Speaker's desk.
lower
2 primary · 6 co-sponsors
Sponsors
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