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Bill > S129


MA S129

Establishing a student loan bill of rights


summary

Introduced
01/23/2017
In Committee
03/29/2018
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

For legislation to establish a student loan bill of rights. Consumer Protection and Professional Licensure.

AI Summary

This bill establishes a student loan bill of rights in Massachusetts. It creates the position of Student Loan Ombudsman within the Division of Banks to assist student loan borrowers with complaints and provide education on student loans. The bill also requires student loan servicers to obtain a license from the Commissioner of Banks, and prohibits them from engaging in unfair or deceptive practices. The bill grants the Commissioner authority to investigate and examine student loan servicers, and to take enforcement action against those who violate the law.

Committee Categories

Budget and Finance, Labor and Employment

Sponsors (12)

Last Action

New draft substituted, see S2380 (on 04/11/2018)

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