Sec. 3. Prohibitions for consumer reporting agencies and furnishers of information to consumer reporting agencies related to private education loans
144 words·~1 min read·
/bill/114/hr/2542/ih/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subsection
(a)of section 605 of the Fair Credit Reporting Act ( 15 U.S.C. 1681c(a) ) is amended by adding at the end the following new paragraph: Failure to repay a private education loan (as defined in section 140(a)) due to accelerated repayment terms of the loan after the death or bankruptcy of a cosigner who is jointly liable for the loan. . Paragraph
(1)of section 623(a) of such Act is amended by adding the following new subparagraph: A private educational lender (as defined in section 140(a)) or the servicer of a private education loan (as defined in such section) shall not furnish any information relating to the loan to any consumer reporting agency if the consumer failed to repay the loan due to accelerated repayment terms after the death or bankruptcy of a cosigner who is jointly liable for the loan. .
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
Sec. 3
Prohibitions for consumer reporting agencies and furnishers of information to consumer reporting agencies related to private education loans
Cites 1Cited by 0 across 0 sources