Plain English Breakdown
Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.
Student loan servicing.
AB 866, as introduced, Ortega.
What This Bill Does
- AB 866, as introduced, Ortega.
- Student loan servicing.
- 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 Financial Protection and Innovation and grants the commissioner various powers in this regard, including the authority to conduct investigations of applicants and licensees.
Limits and Unknowns
- This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.