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New Needs Put On Servicers. Personal Right of Action for Consumers

New Needs Put On Servicers. Personal Right of Action for Consumers

Student Loan Servicing Act Gets Beefed Up

Following exemplory instance of various other states , 1 the Capfornia legislature has passed AB 376 (SLSA Amendments) to amend the current Capfornia scholar Loan Servicing Act (SLSA). The SLSA Amendments would 1) place new needs upon education loan servicers, including demands payment that is regarding and crediting, handpng of overpayments and partial re re re payments, as well as the training of customer support workers, 2) give consumers an exclusive right of action for violations of the conditions, 3) produce the brand new place of education loan Ombudsman and 4) expand the supervisory authority for the DB O 2 over servicers.