US Congress Senate Bill 1309 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on May 12 2015 - 25% progression, died in committee
Action: 2015-05-12 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

FAIR Student Credit Act of 2015 Federal Adjustment in Reporting Student Credit Act of 2015 Amends the Fair Credit Reporting Act to allow a person to request the removal of a previously reported default regarding a qualified education loan from a consumer report if: (1) the lender chooses to offer a loan rehabilitation program that requires a number of consecutive on-time monthly payments equal to the number of payments specified in a default reduction program under the Higher Education Act of 1965, and (2) the consumer of such loan successfully and voluntarily meets the requirements of that loan rehabilitation program. Permits a consumer to obtain such rehabilitation benefits only once per loan. Requires the Government Accountability Office to report on any hurdles borrowers experience with the private loan rehabilitation program.

FAIR Student Credit Act of 2015 Federal Adjustment in Reporting Student Credit Act of 2015

Sen. Gary Peters [D-MI]

Sen. Shelley Capito [R-WV]

Sen. Dan Sullivan [R-AK]

Date	Chamber	Action
2015-05-12	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

HB2363 (Related) 2015-05-15 - Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/1309/all-info
Text	https://www.congress.gov/114/bills/s1309/BILLS-114s1309is.pdf