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Can you summarize 26 DCMR C30?
BANKING AND FINANCIAL INSTITUTIONS > STUDENT LOAN SERVICERS
Short Summary
The provided legal document content consists of various sections of the District of Columbia Municipal Regulations governing student loan servicers. These regulations apply to any person or entity that operates as a student loan servicer in the District of Columbia. The regulations outline the scope and applicability of the chapter, exemptions for certain financial institutions and educational institutions, financial statement and net worth requirements for license applicants, license application content and fees, requirements for surety bonds, withdrawal of an initial application, issuance and transferability of licenses, license expiration and renewal, information challenge process, license reinstatement, denial of application, surrender of license, annual reports and reporting requirements, annual assessments, change of location notification, record keeping requirements, notification of significant events, special reports, suspension and revocation of licenses, licensing fees, complaints, and complaint handling procedures. The regulations aim to ensure compliance and provide guidelines for the operation of student loan servicers in the District of Columbia. No specific exemptions or penalties are mentioned in these regulations.
Whom does it apply to?
Any person or entity that operates as a student loan servicer in the District of Columbia
What does it govern?
The District of Columbia Municipal Regulations governing student loan servicers
What are exemptions?
Banks, trust companies, loan companies, savings banks, savings and loan associations, credit unions, public postsecondary educational institutions, and private non-profit postsecondary educational institutions servicing their own student loans
What are the Penalties?
No specific penalties mentioned
Jurisdiction
Washington, D.C.