Oregon approves final student loan servicer regulations
The regulations establish provisions for student loan servicers related in part to licensing requirements as well as related consumer protections for borrowers.
The regulations establish provisions for student loan servicers related in part to licensing requirements as well as related consumer protections for borrowers.
Effective immediately, the new bill adds definitions, eliminates certain requirements for licensees, and adds business operation guidance.
Licensees who fail to comply with the regulations may be subject to fines, potential license suspension or revocation.
The newest NPRM invites comments related to the scope, annual report, and document retention requirements under the Debt Collection Licensing Act.