Regulate Student Education Loan Servicers
| Type | Bill |
|---|---|
| Session | 2019 Regular Session |
| Subjects |
Concerning the regulation of student education loan servicers, and, in connection therewith, making an appropriation.
Bill Summary:
Student loan servicers - license requirement - regulation by assistant attorney general - appropriation. The act requires an entity that services a student education loan owned by a Colorado resident to be licensed by the administrator of the "Uniform Consumer Credit Code". "Servicing" means receiving a scheduled periodic payment from a student loan borrower, applying the payments of principal and interest with respect to the amounts received from a student loan borrower, and similar administrative services. The act specifies particular acts that are required of or prohibited by student loan servicers and the administrator's powers and duties. Violation of the licensing law is a deceptive trade practice. The act also creates a student loan ombudsperson to provide timely assistance to student loan borrowers.
$115,273 is appropriated to the department of law from the general fund to implement the act.
(Note: This summary applies to this bill as enacted.)
Related Documents & Information
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.006 | The motion passed without objection. | Vote summary |
| Refer Senate Bill 19-002, as amended, to the Committee of the Whole. | The motion passed on a vote of 7-4. | Vote summary |
| Activity | Vote | Documents |
|---|
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.005 (Attachment F) | The motion passed without objection. | Vote summary |
| Refer Senate Bill 19-002, as amended, to the Committee on Appropriations. | The motion passed on a vote of 7-4. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer Senate Bill 19-002 to the Committee on Finance. | The motion passed on a vote of 8-5. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment J.001 | The motion passed without objection. | Vote summary |
| Refer Senate Bill 19-002, as amended, to the Committee of the Whole. | The motion passed on a vote of 6-4. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.003 (Attachment C) | The motion passed without objection. | Vote summary |
| Refer Senate Bill 19-002, as amended, to the Committee on Appropriations. | The motion passed on a vote of 5-2. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.001 | The motion passed without objection. | Vote summary |
| Refer Senate Bill 19-002, as amended, to the Committee on Finance. | The motion passed on a vote of 4-0. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 05/01/2019 | Conference Committee Report | REPASS |
23
AYE
12
NO
0
OTHER
|
Vote record |
| 05/01/2019 | Conference Committee Report | ADOPT CCR |
35
AYE
0
NO
0
OTHER
|
Vote record |
| 04/26/2019 | House Amendments | NOT CONCUR APPT CC |
35
AYE
0
NO
0
OTHER
|
Vote record |
| 03/22/2019 | Third Reading | BILL |
21
AYE
9
NO
5
OTHER
|
Vote record |
| 03/21/2019 | Committee of the Whole | COW * (.002) |
27
AYE
8
NO
0
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 04/30/2019 | Conference Committee Report | REPASS |
41
AYE
24
NO
0
OTHER
|
Vote record |
| 04/30/2019 | Conference Committee Report | ADOPT |
56
AYE
9
NO
0
OTHER
|
Vote record |
| 04/24/2019 | Third Reading | BILL |
40
AYE
24
NO
1
OTHER
|
Vote record |
| Date | Amendment Number | Committee/ Floor Hearing | Status | Documents |
|---|---|---|---|---|
| 04/23/2019 | L.006 | HOU Appropriations | Passed [*] | |
| 04/17/2019 | L.005 | HOU Finance | Passed [*] | |
| 03/21/2019 | L.004 | Second Reading | Passed [**] | |
| 03/19/2019 | J.001 | SEN Appropriations | Passed [*] | |
| 02/26/2019 | L.003 | SEN Finance | Passed [*] | |
| 02/07/2019 | L.001 | SEN Education | Passed [*] |
| Date | Location | Action |
|---|---|---|
| 05/13/2019 | Governor | Governor Signed |
| 05/07/2019 | Governor | Sent to the Governor |
| 05/07/2019 | House | Signed by the Speaker of the House |
| 05/07/2019 | Senate | Signed by the President of the Senate |
| 05/01/2019 | Senate | Senate Consideration of First Conference Committee Report result was to Adopt Committee Report - Repass |
| 04/30/2019 | House | House Consideration of First Conference Committee Report result was to Adopt Committee Report - Repass |
| 04/30/2019 | ConfComm | First Conference Committee Result was to Adopt Rerevised w/ Amendments |
| 04/26/2019 | Senate | Senate Considered House Amendments - Result was to Not Concur - Request Conference Committee |
| 04/25/2019 | Senate | Senate Considered House Amendments - Result was to Laid Over Daily |
| 04/24/2019 | House | House Third Reading Passed - No Amendments |
| 04/23/2019 | House | House Second Reading Special Order - Passed with Amendments - Committee |
| 04/23/2019 | House | House Committee on Appropriations Refer Amended to House Committee of the Whole |
| 04/17/2019 | House | House Committee on Finance Refer Amended to Appropriations |
| 04/11/2019 | House | House Committee on Education Refer Unamended to Finance |
| 03/26/2019 | House | Introduced In House - Assigned to Education |
| 03/22/2019 | Senate | Senate Third Reading Passed - No Amendments |
| 03/21/2019 | Senate | Senate Second Reading Passed with Amendments - Committee, Floor |
| 03/19/2019 | Senate | Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole |
| 02/26/2019 | Senate | Senate Committee on Finance Refer Amended to Appropriations |
| 02/07/2019 | Senate | Senate Committee on Education Refer Amended to Finance |
| 01/04/2019 | Senate | Introduced In Senate - Assigned to Education |
Prime Sponsor
Sponsor
Co-Sponsor
| Effective Date | Chapter # | Title | Documents |
|---|---|---|---|
| 08/02/2019 | 157 | Regulate Student Education Loan Servicers |