Sec. 380. Prohibitions for consumer reporting agencies and furnishers of information to consumer reporting agencies related to private education loans
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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: Default on a private education loan (as defined in section 140(a)) resulting from accelerated repayment terms of the loan after the death, disability, inability to engage in any substantial gainful activity, or bankruptcy of a cosigner who is jointly liable for the loan. . Paragraph
(1)of section 623(a) of the Fair Credit Reporting Act ( 15 U.S.C. 1681s–2(a)(1) ) 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 defaulted on the loan due to accelerated repayment terms of the loan after the death, disability, inability to engage in any substantial gainful activity, or bankruptcy of a cosigner who is jointly liable for the loan. .
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- 15 USC 1681s–2(a)(1)
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Sec. 380
Prohibitions for consumer reporting agencies and furnishers of information to consumer reporting agencies related to private education loans
Cite15 USC 1681s–2(a)(1)
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