Andrew's Law

2015-05-19

Introduced in Senate

Andrew Prior Act or Andrew's Law

This bill amends the Truth in Lending Act to discharge the repayment obligations of the estate of a borrower and any cosigner of a private educational loan if the borrower dies.

The Consumer Financial Protection Bureau (CFPB) must develop necessary and appropriate safeguards to prevent fraud and abuse in the discharge of those obligations.

The CFPB may promulgate regulations to reinstate those obligations in any case in which it determines that doing so is necessary to protect the public interest.

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