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NY A07796

Bill

Official Source

Status

Engrossed

6/6/2019

Primary Sponsor

Kenneth Zebrowski

Click for details

Origin

Assembly

2019-2020 General Assembly

AI Summary

  • Amends the definition of "servicing" under Banking Law Section 710, subdivision 7, paragraph (e) to clarify activities performed by student loan servicers
  • Changes "or" to "and" to require servicers to facilitate activities described in paragraphs (a) or (b) in conjunction with performing activities in paragraphs (a), (b), or (d)
  • Expands the scope of servicer interactions with borrowers regarding attempts to avoid default on student loans
  • Takes effect on the same date as section 1 of part L of chapter 58 of the laws of 2019

Legislative Description

Relates to the definition of "servicing" by student loan servicers.

Last Action

REFERRED TO HIGHER EDUCATION

2/12/2020

Committee Referrals

Higher Education2/12/2020
Rules6/6/2019
Banks5/22/2019

Full Bill Text

No bill text available