US SB1958 | 2015-2016 | 114th Congress
Status
Spectrum: Partisan Bill (Democrat 5-0)
Status: Introduced on August 5 2015 - 25% progression, died in committee
Action: 2015-08-05 - Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Pending: Senate Health, Education, Labor, And Pensions Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on August 5 2015 - 25% progression, died in committee
Action: 2015-08-05 - Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Pending: Senate Health, Education, Labor, And Pensions Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Christopher Bryski Student Loan Protection Act Christopher's Law This bill amends the Truth in Lending Act to require a private student loan lender to disclose clearly and conspicuously in writing a cosigner's obligations regarding a private student loan. The Consumer Financial Protection Bureau (CFPB) must publish a model form for such disclosure. The bill prohibits a private student loan lender from taking an adverse action against a borrower (e.g., placing a loan in default or accelerating a loan balance) upon a cosigner's death, disability, or bankruptcy. It also prohibits adverse actions against a cosigner for a borrower's death, disability, or bankruptcy. The CFPB must establish and a private student loan lender must disclose criteria for releasing a cosigner from a private student loan obligation. A private student loan lender must also: provide prompt notice of a cosigner's release; allow a borrower to designate a legal representative to make decisions upon the death or disability of such borrower; and
Title
Christopher Bryski Student Loan Protection Act Christopher's Law
Sponsors
Sen. Robert Menendez [D-NJ] | Sen. Cory Booker [D-NJ] | Sen. Kirsten Gillibrand [D-NY] | Sen. Al Franken [D-MN] |
Sen. Elizabeth Warren [D-MA] |
History
Date | Chamber | Action |
---|---|---|
2015-08-05 | Senate | Read twice and referred to the Committee on Health, Education, Labor, and Pensions. |
Same As/Similar To
HB3474 (Same As) 2016-03-23 - Referred to the Subcommittee on Higher Education and Workforce Training.
Subjects
Bankruptcy
Consumer credit
Disability and paralysis
Education
Government information and archives
Government lending and loan guarantees
Higher education
Student aid and college costs
Consumer credit
Disability and paralysis
Education
Government information and archives
Government lending and loan guarantees
Higher education
Student aid and college costs
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/114th-congress/senate-bill/1958/all-info |
Text | https://www.congress.gov/114/bills/s1958/BILLS-114s1958is.pdf |