The New York Department of Financial Services ("DFS") has finalized the last piece of the Empire State's student loan servicer puzzle. On October 1st, the DFS issued a Student Loan Servicers Regulation (the "Regulation") that...more
12/27/2019
/ Debt Collection ,
Federal Student Loans ,
Higher Education Act ,
Loan Servicer ,
New Regulations ,
NYDFS ,
Private Student Loans ,
Regulation Z ,
State Regulators ,
Student Loan Servicers Regulation ,
Student Loans
The May 2019 issue of Insights provided high-level background information about the recent trend of state legislation targeting student loan servicers. In the June 2019 issue of Insights, we took a deeper dive into New York's...more
9/3/2019
/ Borrowers ,
Duties & Responsibilities ,
Licensing Rules ,
Loan Servicer ,
New Legislation ,
Ombudsman ,
Payment Bonds ,
Payment Terms ,
Pending Legislation ,
Policies and Procedures ,
Registration Requirement ,
State Legislatures ,
Student Loans ,
Students
The May 2019 issue of Insights included discussion of a growing trend to regulate student loan servicers. Currently, there are a handful of states that impose requirements specifically on such parties. However, the ranks of...more