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Can you summarize DCCO 31-106.01?
Establishment of the Department of Insurance, Securities, and Banking. > Student Loan Ombudsman.
Short Summary
This legal document establishes the position of the Student Loan Ombudsman within the Department of Insurance, Securities, and Banking. The Ombudsman is appointed by the Commissioner of the Department and must be a District resident with experience in consumer finance, including student loan servicing and debt collection. The Ombudsman’s responsibilities include assisting in the enforcement of licensing provisions, receiving and resolving complaints from student loan borrowers, compiling and analyzing data on borrower complaints, providing information to borrowers about their rights and responsibilities, monitoring actions taken by loan servicers, making recommendations to the Commissioner, analyzing and monitoring laws and regulations related to student loan borrowers, reviewing borrower loan history upon request, establishing an education course for borrowers, developing a borrower bill of rights, conducting examinations of loan servicers, and submitting an annual report on activities. The Ombudsman is prohibited from disclosing personally identifiable information without consent, disclosing the identity of complainants without consent, providing legal advice or representation, and is not personally liable for good-faith performance of duties. This document does not mention any specific exemptions or penalties.
Whom does it apply to?
The Department of Insurance, Securities, and Banking
What does it govern?
Establishment of the position of the Student Loan Ombudsman within the Department of Insurance, Securities, and Banking
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Washington, D.C.