2020 Regular Session
|At the request of:|
|Bill Title:||Relating to student loan servicers; declaring an emergency.|
Requires certain persons that service student loans in this state to obtain or renew license.
Specifies license application and renewal procedures, required fees and persons that are exempt from requirement. 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 on July 1, 2021. Declares emergency, effective on passage.
|Fiscal Impact:||Budget Report Issued|
|Revenue Impact:||No Revenue Impact|
|Measure Analysis:||Staff Measure Summary / Impact Statements|
|Current Location:||At Senate Desk Upon Adjournment|
|Potential Conflicts of Interest/Vote Explanations:||Potential Conflicts of Interest/Vote Explanation Documents|