summary
Introduced
01/23/2017
01/23/2017
In Committee
01/23/2017
01/23/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
Relative to student loans and the oversight powers of the Division of Banks. Financial Services.
AI Summary
This bill establishes a student loan bill of rights in Massachusetts. It defines key terms such as "student education loan," "student loan borrower," and "student loan servicer." The bill creates the position of Student Loan Ombudsman within the Division of Banks to assist student loan borrowers and monitor the student loan industry. It requires student loan servicers to be licensed and prohibits them from engaging in unfair or deceptive practices. The bill also gives the Commissioner of Banks the authority to investigate and enforce violations. The Student Loan Ombudsman is required to report annually on the work of the office, and the Commissioner must promulgate rules and regulations to implement the bill within three months of its effective date.
Committee Categories
Business and Industry
Sponsors (13)
Mike Connolly (D),
Michelle DuBois (D),
Dylan Fernandes (D),
Sean Garballey (D),
Solomon Goldstein-Rose (I),
Natalie Higgins (D),
Jack Lewis (D),
Juana Matias (D),
Brian Murray (D),
Denise Provost (D),
Dave Rogers (D),
John Rogers (D),
Bud Williams (D),
Last Action
Accompanied a study order, see H4778 (on 07/18/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/190/H2173 |
| Bill | https://malegislature.gov/Bills/190/H2173.pdf |
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