CFPB Student Loan Integrity and Transparency Act
This bill requires the Consumer Financial Protection Bureau (CFPB) and the Department of Education to share student loan complaint data and coordinate oversight. It mandates that each agency transfer complaints about federal student loans (title IV) or private student loans to the other agency within 10 days of receipt. The agencies must collaborate on resolving complaints involving both federal and private loans, including creating a process for handling issues with defaulted federal loans and private collection agencies. This improves transparency for borrowers by ensuring both agencies work together to address concerns about student loan servicing and origination.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2024
Committee Review
Floor Vote
President
Introduced Feb 14, 2024
Last action Feb 14, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Feb 14, 2024
Committee
Referred to the Committee on Education and the Workforce, and in addition to the Committees on Financial Services, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
lower
Feb 14, 2024
Introduced
Introduced in House
lower
1 primary · 9 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Katie Porter
DDemocratic
Co
Alma S. Adams
DDemocratic
Co
Ayanna Pressley
DDemocratic
Co
Gregorio Kilili Camacho Sablan
DDemocratic
Co
Ilhan Omar
DDemocratic
Co
Jahana Hayes
DDemocratic
Co
John P. Sarbanes
DDemocratic
Co
Mark Takano
DDemocratic
Co
Nikema Williams
DDemocratic
Co
Suzanne Bonamici
DDemocratic
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