Bill > HB789

This bill enacts Chapter 22 of Title 6 of the Louisiana Revised Statutes to establish a private student loan registry. The key provisions are: 1. It defines "private education lender" as any person engaged in the business of securing, making, or extending a private education loan, excluding federally insured financial institutions and their subsidiaries and affiliates. 2. It requires private education lenders operating in Louisiana to register with the Commissioner of the Office of Financial Institutions and provide various information, including a list of schools where they have provided loans to Louisiana residents, the total number and dollar amount of loans made annually, and loan default rates. 3. It requires the Commissioner to create a publicly accessible website that includes the registered lenders' information and a summary of the data provided by the lenders. 4. It authorizes the Commissioner to enforce the provisions of the chapter and to promulgate necessary rules.