Washington D.C. Publishes Final Student Loan Servicing Regulations
The District of Columbia Department of Insurance, Securities, and Banking (DISB) published its final rules under the Student Loan Ombudsman Establishment and Servicing Regulation Amendment Act of 2016. The final rules became effective when published in the D.C. Register on August 10, 2018.
The rules are unchanged from the latest revisions. In its notice of publication, the DISB explained that it rejected proposals to create a multi-year licensing period and to allow additional time for servicers to provide requested records to the Commissioner because the Department had disposed of the same issues in prior rounds of rulemaking.