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HR 5322 117th Congress House Finance and Financial Sector

Students and Young Consumers Empowerment Act

Introduced: September 22, 2021 Introduced by: Bonamici, Suzanne Democratic · Oregon See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 22, 2021
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.
Sep 22, 2021
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now September 22, 2021

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.

 Committees of jurisdiction 2
 Cosponsors 4
All 4 Democratic 4