California Governor Jerry Brown has signed into law Assembly Bill 38, which significantly modifies the scope, administration, and servicing requirements of the state’s Student Loan Servicing Act. The bill was approved by the California Assembly 55-23-2 and the California Senate 28-11-1 with the intent to “build upon existing law to ensure that the Student Loan Servicing Act’s goals are met as the federal government enacts new regulations.” … Continue Reading
SLSA
Student loan servicers seek to clarify federal preemption of state student loan servicing regulations in suit to enjoin Washington, D.C. law
By Brian Slagle on
Posted in Regulatory and Enforcement, Student Loans
The Student Loan Servicing Alliance, a trade group representing student loan servicers, has sued the District of Columbia to enjoin the operation of Law 21-214, the Student Loan Ombudsman Establishment and Servicing Regulation Amendment Act of 2016. The Act, which became effective February 18, 2017, established a student loan ombudsman within the D.C.… Continue Reading