Substitute for Raised S.B. No. 1257
Session Year 2025


AN ACT CONCERNING CONSUMER CREDIT AND COMMERCIAL FINANCING.

To: (1) Require cancellations of certain surety bonds to be submitted electronically; (2) modify procedures regarding changes to the legal names of certain licensees; (3) redefine "sales finance company"; (4) establish procedures for registering as an exempt mortgage servicer registrant; (5) establish requirements regarding private student education loan cosigner releases; (6) establish enforcement authority regarding registrants; (7) prohibit receiving fees in connection with small loans without a license; (8) redefine "mortgage servicer" and "servicing"; (9) define "private education lender" and "private education loan creditor"; (10) establish requirements regarding timelines and fees for certain registrants that are exempt from licensing; (11) modify various statutes relating to commercial financing; (12) modify registration and enforcement procedures regarding private education lenders and private education loan creditors; (13) require certain disclosures in connection with shared appreciation agreements; (14) make technical changes to various statutes regarding consumer credit; and (15) redefine "system".


Other Bills with Similar Topics

  Banking Department 

 

  Bonds 

  Consumer collection agencies 

  Credit 

  Electronic government information 

 

  Fees 

 

  Fines (Penalties) 

 

  Hearings 

 

  Licenses 

 

  Mortgage lenders 

  Notices 

 

  Small loan lenders 

  Student loans 

 

  Violations