Bill Text: CA AB376 | 2019-2020 | Regular Session | Introduced

California Assembly Bill 376 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Student loan servicing.

Spectrum: Partisan Bill (Democrat 12-0)

Status: (Passed) 2020-09-25 - Chaptered by Secretary of State - Chapter 154, Statutes of 2020. [AB376 Detail]

Download: California-2019-AB376-Introduced.html

CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Assembly Bill

No. 376

Introduced by Assembly Member Mark Stone

February 05, 2019

An act relating to student loans.

LEGISLATIVE COUNSEL'S DIGEST

AB 376, as introduced, Mark Stone. Student loans.

Existing law, the Student Loan Servicing Act, prohibits a person from engaging in the business of servicing a student loan in California without first obtaining a license. Existing law commits the administration of these provisions to the Commissioner of Business Oversight and grants the commissioner various powers in this regard, including the authority to conduct investigations of applicants and licensees.

This bill would state the intent of the Legislature to enact legislation to amend the Student Loan Servicing Act to better protect student loan borrowers in California.

Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO

The people of the State of California do enact as follows:

SECTION 1.

It is the intent of the Legislature to enact legislation to amend the Student Loan Servicing Act to better protect student loan borrowers in California.