Amendment ID: S2380-2

Amendment 2

Ombudsman Annual Report

Mr. Tarr moves to amend the bill by inserting after line 20 the following:—

Annually, not later than January 1, the ombudsman shall file a report on activities related to student loans and student loan servicers, as defined in section 1 of chapter 93L, with the clerks of the senate and house of representatives, the chairs of the house and senate committees on ways and means and the house and senate chairs of the joint committee on financial services.

The report shall include, but not be limited to: (i) the number of complaints received by the ombudsman from student loan borrowers and the names of the student loan servicers against whom complaints are filed; (ii) the types of complaints received by the ombudsman from student loan borrowers; (iii) the types of resolutions reached for complaints received; and (iv) recommendations to improve regulation, oversight and enforcement by the ombudsman over the licensing and enforcement of student loan servicers. The report shall also include an overview of any information received from the division of banks concerning: (1) the number of complaints received by the division of banks concerning student loans: (2) the types of complaints received by the division of banks concerning student loans; (3) the types of resolutions reached by the division of banks; and (4) recommendations to improve the effectiveness of the position of student loan ombudsman. The report shall ensure that all information included in the report is aggregated and de-identified.

and to further amend the bill, in line 21, by striking out the word “ombudsman” and inserting in place thereof the words:—

“division of banks”

and to further amend the bill, in lines 21 and 22, by striking out the words “division of banks” and inserting in place thereof the word “ombudsman”

and to further amend the bill, in line 22, by striking out the word “its” and inserting in place thereof the word “ombudsman”