D.C. Council Examines Consumer Protection Bill for Student Loan Borrowers
Authored by Council member Christina Henderson (I-At Large), the bill would ban unfair, deceptive or abusive lending practices, require servicers to tell borrowers if loans are transferred or sold, and extend present consumer protections to borrowers. In addition, the bill transfers the responsibility of dealing with student loan matters from the D.C. Department of Insurance, Securities and Banking to the D.C. Office of the Attorney General and puts in place a mechanism to oversee private lenders.