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Assembly Bill A7796

2019-2020 Legislative Session

Relates to the definition of servicing by student loan servicers

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Archive: Last Bill Status - In Senate Committee Higher Education Committee

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2019-A7796 (ACTIVE) - Details

Current Committee:
Senate Higher Education
Law Section:
Banking Law
Laws Affected:
Amd §710, Bank L

2019-A7796 (ACTIVE) - Summary

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

2019-A7796 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7796
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 22, 2019
                                ___________
 
 Introduced  by  M.  of  A.  ZEBROWSKI  --  read once and referred to the
   Committee on Banks
 
 AN ACT to amend the banking  law,  in  relation  to  the  definition  of
   "servicing" by student loan servicers
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Paragraph (e) of subdivision 7 of section 710 of the  bank-
 ing  law,  as  added by section 1 of part L of chapter 58 of the laws of
 2019, is amended to read as follows:
   (e) interacting with a borrower  with  respect  to  or  regarding  any
 attempt to avoid default on the borrower's student loan[, or] AND facil-
 itating  the activities described in paragraph (a) or (b) of this subdi-
 vision, in conjunction with performing such activities as  described  in
 paragraphs (a), (b), or (d) of this subdivision; or
   §  2.  This  act  shall  take  effect on the same date and in the same
 manner as section 1 of part L of chapter 58 of the laws  of  2019  takes
 effect.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11932-02-9

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