HR 5322 · 117th Congress · Finance and Financial Sector
Students and Young Consumers Empowerment Act
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Committee on Education and Labor, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.(2021-09-22)
Plain Language Summary
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Students and Young Consumers Empowerment Act This bill establishes the Office for Students and Young Consumers within the Consumer Financial Protection Bureau and eliminates the position of Private Education Loan Ombudsman. (Currently, the Private Education Loan Ombudsman provides assistance to borrowers of private education loans.) The Office for Students and Young Consumers must provide assistance to borrowers of private or federal student loans and enter into an information-sharing agreement with the Department of Education. The office must also report annually regarding campus banking and the student loan marketplace.…
Summarized by Claude AI · Non-partisan · For informational purposes only