Sec. 5. Report on student loan servicers
116 words·~1 min read·
/bill/113/s/1803/is/section-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 1 year after the date of enactment of this Act, the Director of the Consumer Financial Protection Bureau, in consultation with the Secretary of Education, shall submit a report to the Committee on Banking, Housing, and Urban Affairs of the Senate, the Committee on Health, Education, Labor, and Pensions of the Senate, the Committee on Financial Services of the House of Representatives, and the Committee on Education and the Workforce of the House of Representatives on private and Federal student loan servicers, including— any legislative recommendations to improve student loan servicing standards; and information on proactive early intervention methods by servicers to help distressed student loan borrowers enroll in any eligible repayment plans.