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CA AB2921

Bill

Status

Engrossed

6/8/2020

Primary Sponsor

Mark Stone

Click for details

Origin

State Assembly

2019-2020 Session

AI Summary

  • Defines "student loan account" as a student loan or loans grouped together for billing purposes by a student loan servicer in the Financial Code.

  • Updates references throughout the Student Loan Servicing Act to specify "student loan account" instead of general "account" language.

  • Changes outdated terminology from "Internet Web site" to "internet website" in sections relating to licensee communications and information provision.

  • Updates pronouns from "his or her" to "their" in provisions regarding borrower education programs and loan defaults.

  • Requires licensees to provide information about borrower student loan accounts in response to qualified written requests within 30 business days, with a potential 15-day extension.

Legislative Description

Student Loan Servicing Act: student loan accounts.

Last Action

Referred to Com. on B. & F.I.

6/23/2020

Committee Referrals

Banking and Financial Institutions6/23/2020
Rules6/9/2020
Banking and Finance3/5/2020

Full Bill Text

No bill text available