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This order is effective until modified or vacated and requires licensees to comply with certain measures, including maintaining the safety of personal information and data security and operating under implemented policies and procedures.
The Department of Business Oversight issued guidance on March 21, 2020 that work from home prohibitions would not be enforced against escrow agents, finance lenders and servicers, studentloan servicers, or residential mortgage lenders and servicers, thus allowing collection efforts to continue.
On July 29, Virginia Attorney General Mark Herring announced that he joined a multistate amicus brief , advocating for the rights of federal studentloan borrowers. On July 26, Georgia Attorney General Chris Carr announced Georgia’s top consumer complaints for 2020. For more information, click here.
Senators Elizabeth Warren, Tina Smith, Sherrod Brown, and Edward Markey wrote a letter to President Joe Biden, signed by 60 other lawmakers, requesting that that he extend the pause of federal studentloan payments for at least six months or whenever employment returns to pre-pandemic levels. For more information, click here.
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