2016 House Bill 5585

Impose licensure, fees, regulations on some student loan servicers

Introduced in the House

April 20, 2016

Introduced by Rep. Winnie Brinks (D-76)

To impose licensure on entities that service student loans (administer or collect on them), including detailed regulations and nonrefundable license application and background check fees totaling $1,800. Banks and other financial institutions would be exempt.

Referred to the Committee on Financial Liability Reform