- Stage
- Became law
- Started in
- Assembly
- Sponsors
- 12
- Latest action
- Sep 25, 2020
What it does
Existing law, the Student Loan Servicing Act, prohibits a person from engaging in the business of servicing a student loan in California without first obtaining a license. Existing law commits the administration of these provisions to the Commissioner of Business Oversight and grants the commissioner various powers in this regard, including the authority to conduct investigations of applicants and licensees. The act requires an applicant for a license to submit audited financial statements prepared in accordance with generally accepted accounting principles and acceptable to the commissioner that indicate a net worth of at least $250,000 and requires a licensee to maintain a minimum net…
Where it stands
This bill passed and is now law.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
Once a bill is decided, the questions are about what is done with it in California.