[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2886 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 2886

  To amend the Higher Education Act of 1965 to exempt Federal Family 
    Education Loans from the Federal Trade Commission's holder rule.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             August 5, 1993

 Mr. Goodling (for himself, Mr. Fawell, Mr. Santorum, and Mr. Deutsch) 
   introduced the following bill; which was referred jointly to the 
       Committees on Education and Labor and Energy and Commerce

_______________________________________________________________________

                                 A BILL


 
  To amend the Higher Education Act of 1965 to exempt Federal Family 
    Education Loans from the Federal Trade Commission's holder rule.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. AMENDMENT TO THE HIGHER EDUCATION ACT OF 1965.

    Section 433 of the Higher Education Act of 1965 (20 U.S.C. 1083) is 
amended by adding at the end the following new subsection:
    ``(f) Loans Not Subject to Federal Trade Commission Holder Rule.--
No loan made under this part shall be subject to the regulation 
regarding preservation of consumer's claims and defenses prescribed by 
the Federal Trade Commission pursuant to section 5 of the Federal Trade 
Commission Act (15 U.S.C. 45; 16 C.F.R. 433.1).''.

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