The Department of Financial Institutions is working on implementing E2SSB 6029, the Student Loan Bill of Rights, which amends the Consumer Loan Act, RCW 31.04. Student Education Loan Servicers will have licensing, examination and compliance obligations under the Consumer Loan Act.
See: E2SSB 6029
Applications for Student Education Loan Servicers will be accepted starting July 16. The Department will use NMLS for applications. A checklists with application requirements will be posted before July 16.
The Department of Financial Institutions has begun rulemaking for Student Education Loan Servicers.
News and Information
Laws and Rules
Consumer Loan Act
Consumer Loan Act Rules
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