Bill creates a new licensing process for student loan servicers
Last week, Senator Sal DiDomenico (D-Everett) and his colleagues in the Massachusetts State Senate passed the “Student Loan Bill of Rights,” which gives greater protections to student loan borrowers in disputes with companies servicing their loans.
The bill, S.2380, An Act establishing a student loan bill of rights, requires student loan servicers to be licensed companies with the state Division of Banks, and empowers state officials to investigate the servicers and take action against those that violate the state’s banking and consumer protection laws. Continue reading DiDomenico Supports Student Loan Bill Of Rights