Assembly Member Kenneth Zebrowski stated, „Nearly everybody else you meet is experiencing education loan debt, myself included. As seat associated with the Banks Committee, this crisis is one thing I am thankful for Governor Cuomo’s leadership on this issue that I have worked tirelessly on and. Now as part of your, it really is imperative that brand New York State leads the fee in protecting education loan borrowers and keeping bad actors accountable. These brand new defenses will guarantee education loan servicers operate within the most useful interest associated with the borrower and can provide critical customer defenses to scores of New Yorkers.“
Seth Frotman, Executive Director for the scholar Borrower Protection Center and student that is former ombudsman in the customer Financial Protection Bureau stated, „Governor Cuomo is demanding accountability from education loan servicers and providing the greater amount of than two million nyc education loan borrowers a strong ally within the battle to reclaim their economic futures. The deck had been stacked against education loan borrowers whenever Washington switched its straight straight back to them and I also applaud their state of New York when planning on taking on this critical fight.“
Chuck Bell, tools Director for Consumer Reports stated, „New York State’s brand brand new education loan protections are urgently had a need to protect education loan borrowers against unjust and predatory methods. This essential brand new legislation will assist make sure that education loan servicers usually do not mislead borrowers, misapply re re payments, or provide credit rating agencies with inaccurate information.“
Evan Denerstein, Senior Staff Attorney at Mobilization for Justice, Inc. Continue reading „The legislation protects current and future New Yorkers by expressly prohibiting the practice.“