118th Congress · HOUSE BILLBILL

H.R. 6692 — Students and Young Consumers Empowerment Act

“To amend the Consumer Financial Protection Act of 2010 to establish the position of the Assistant Director and Student Loan Borrower Advocate of the Bureau of Consumer Financial Protection, to establish the Office for Students and Young Consumers of the Bureau, and for other purposes.”

Finance and financial sector

Introduced Dec 11, 2023

Last action Dec 11, 2023

Pipeline · Bill → Law

Step 1

Introduced

Dec 11, 2023

Step 2

Referred

Dec 11, 2023

Financial Services · Education and Workforce

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

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.

Provisions · 3 sectionsIntroduced in House

Timeline · 3 actions

Dec 11, 2023

Introduced in House

Dec 11, 2023

Referred to the Committee on Education and the Workforce, 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.

Dec 11, 2023