OR HB2175 | 2021 | Regular Session

Status

Completed Legislative Action
Spectrum: Unknown
Status: Failed on June 26 2021 - 100% progression
Action: 2021-06-26 - In committee upon adjournment.
Text: Latest bill text (Introduced) [PDF]

Summary

Requires certain persons that service student loans in this state to obtain or renew license. Requires certain persons that service student loans in this state to obtain or renew license. Specifies license application and renewal procedures, required fees and persons that are exempt from requirement. Prescribes duties of licensee and requires licensee to maintain specified liquidity, operating reserves and tangible net worth. Prescribes duties and prohibitions for any person that services student loan in this state. Requires Director of Department of Consumer and Business Services to appoint or designate student loan conciliator to respond to and investigate borrower complaints and perform other specified duties. Prescribes civil penalty against person that violates provisions of Act. Permits director to participate in multistate examinations under specified circumstances. Becomes operative July 1, 2022. Declares emergency, effective on passage.

Tracking Information

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Title

Relating to student loan servicers; declaring an emergency.

Sponsors

No sponsor information available at this time.

History

DateChamberAction
2021-06-26HouseIn committee upon adjournment.
2021-01-19HouseReferred to Business and Labor.
2021-01-11HouseFirst reading. Referred to Speaker's desk.

Oregon State Sources


Bill Comments

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