119 HR 7671 IH: Students and Young Consumers Empowerment Act
U.S. House of Representatives
2026-02-25
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EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
1.Short title; table of contents
(a)This Act may be cited as the Students and Young Consumers Empowerment Act
. (b)The table of contents for this Act is as follows:
Sec. 1. Short title; table of contents.
Title I—Students and Young Consumers Empowerment
Sec. 101. Assistant Director and Student Loan Borrower Advocate.
Sec. 102. Duties of the Department of Education.
Title II—Student Loan Integrity and Transparency
Sec. 201. Definitions.
Sec. 202. Cooperation between the Bureau and the Department.
<enum>I</enum><header>Students and Young Consumers Empowerment</header>
<section id="H4BCDA0296B804ACDA2CD51B297616D40"><enum>101.</enum><header>Assistant Director and Student Loan Borrower Advocate</header>
<subsection id="H54CE63F29A784B329E3D02C3F98DD9FA"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Section 1035 of the Consumer Financial Protection Act of 2010 (<external-xref legal-doc="usc" parsable-cite="usc/12/5535">12 U.S.C. 5535</external-xref>) is amended to read as follows:</text> <quoted-block display-inline="no-display-inline" id="H8DAD9C4A705449AC87E9DFF2BF8214F3" style="OLC"> <section id="HC03F719E58184016AE3F5BA9D0006B07"><enum>1035.</enum><header>Assistant Director and Student Loan Borrower Advocate</header> <subsection id="H30FDAC122C80427B9C472F7BACFAE802"><enum>(a)</enum><header>Establishment</header><text display-inline="yes-display-inline">There is established the position of Assistant Director and Student Loan Borrower Advocate, who shall be appointed by the Director.</text></subsection>
<subsection id="H555BB3CDF5BE4C1F8D42E638F26B42DC"><enum>(b)</enum><header>Duties</header><text display-inline="yes-display-inline">The Assistant Director and Student Loan Borrower Advocate shall—</text> <paragraph id="H8E8DEB55C5984AC3B23AB96A65A060E9"><enum>(1)</enum><text display-inline="yes-display-inline">serve as the head of the Office for Students and Young Consumers established under subsection (e);</text></paragraph>
<paragraph id="HFF569AB9BC34441BA6FEC60B71C9591F"><enum>(2)</enum><text display-inline="yes-display-inline">not later than the end of the 60-day period beginning on the date of enactment of this section, enter into a memorandum of understanding with the Secretary of Education, the Chief Operating Officer appointed under section 141(d) of the Higher Education Act of 1965 (<external-xref legal-doc="usc" parsable-cite="usc/20/1018">20 U.S.C. 1018(d)</external-xref>), and the Student Loan Ombudsman appointed under section 141(f) of the Higher Education Act of 1965 (<external-xref legal-doc="usc" parsable-cite="usc/20/1018">20 U.S.C. 1018(f)</external-xref>) that—</text> <subparagraph id="H814B1F2821964627902152E1B7F37D52"><enum>(A)</enum><text>ensures coordination in providing assistance to and serving borrowers seeking to resolve complaints related to their private education loans or Federal student loans; and</text></subparagraph>
<subparagraph id="H3412721EA138464F9DB7B4B4D9F56C54"><enum>(B)</enum><text>authorizes the Bureau to access all relevant Department of Education information systems, records, and data, including any relevant information systems, records, or data maintained by contractors of the Department of Education;</text></subparagraph></paragraph> <paragraph id="H5490198EDCC04FFFBFB39A5F7EE308D7"><enum>(3)</enum><text display-inline="yes-display-inline">accept and attempt to resolve complaints from borrowers with both private education loans and Federal student loans, including complaints against lenders, servicers, and debt collectors; and</text></paragraph>
<paragraph id="H06C8A6156857456B83B84E95AD723DB4"><enum>(4)</enum><text display-inline="yes-display-inline">carry out such other duties as the Director may determine appropriate.</text></paragraph></subsection> <subsection id="H151EBB4AD3464BBD8AC6FDBBFC1946B2"><enum>(c)</enum><header>Notification to Congress</header><text display-inline="yes-display-inline">The Director shall provide written notice and an explanation to the appropriate congressional committees, if—</text>
<paragraph id="HCD554CCE79F84B779BB852ACEC0AA77F"><enum>(1)</enum><text display-inline="yes-display-inline">the position of the Assistant Director and Student Loan Borrower Advocate has been vacant for a period of 60 days or more; or</text></paragraph> <paragraph id="H891ABFFD871A4CF6B556ECA3ACF9217D"><enum>(2)</enum><text>the memorandum of understanding required under subsection (b)(2) has lapsed for a period of 60 days or more.</text></paragraph></subsection>
<subsection id="H12F0916ADB8040048B7FD11B90797119"><enum>(d)</enum><header>Reports</header>
<paragraph id="H2A543181472F4E99B9FAC09EA89F5F16"><enum>(1)</enum><header>Annual report on the student loan marketplace</header><text display-inline="yes-display-inline">The Assistant Director and Student Loan Borrower Advocate shall—</text> <subparagraph id="HD665C8704F234050A468B54E17B32B1A"><enum>(A)</enum><text>compile and analyze complaints from borrowers with Federal student loans or private education loans;</text></subparagraph>
<subparagraph id="HCFA8AA6B1FE94DA4BB373DC7F015C575"><enum>(B)</enum><text display-inline="yes-display-inline">not less than once per year, submit a report to Congress summarizing the activities of the Assistant Director and Student Loan Borrower Advocate in the previous year and including an independent evaluation of risks to consumers posed by policies and practices in the student loan marketplace; and</text></subparagraph> <subparagraph id="H5FB1FA2EA20A473CA92BE66A9D281BFC"><enum>(C)</enum><text display-inline="yes-display-inline">as part of each report submitted in accordance with subparagraph (B), and any other time deemed prudent by the Student Loan Borrower Advocate, make recommendations to the Director, the Secretary of the Treasury, the Secretary of Education, and the appropriate congressional committees to address risk to student loan borrowers and strengthen the student loan marketplace.</text></subparagraph></paragraph>
<paragraph id="H848F471CC0D446AC9FD975A53E86BC3E"><enum>(2)</enum><header>Annual report on campus banking</header><text display-inline="yes-display-inline">Not less than once per year, the Assistant Director and Student Loan Borrower Advocate shall issue a report to the appropriate congressional committees analyzing the use of consumer financial products and services by students enrolled at institutions of higher education, including an evaluation of contracts and other financial arrangements between institutions of higher education and providers of consumer financial products and services, including an evaluation of revenue sharing provisions, marketing provisions, and fees assessed to students who use such products and services.</text></paragraph> <paragraph id="H2002456F6B004983A15905E9C3F6B1A7"><enum>(3)</enum><header>Report on risks to young consumers</header><text display-inline="yes-display-inline">Not less than once per year, the Assistant Director and Student Loan Borrower Advocate shall issue a report to the appropriate congressional committees containing an analysis of complaints submitted to the Bureau by young consumers during the previous year and offering an independent evaluation of risks to consumers posed by policies and practices in the marketplace for consumer financial products and services.</text></paragraph></subsection>
<subsection id="H2B282D80CBDC44179EE1700300DBF664"><enum>(e)</enum><header>Office for Students and Young Consumers</header><text display-inline="yes-display-inline">There is established an Office for Students and Young Consumers, which shall be responsible for developing and implementing initiatives for students, young consumers, and their families intended to—</text> <paragraph id="HA705FED899F74814931B3BEF81EA9667"><enum>(1)</enum><text>educate and empower students, young consumers, and their families to make better informed decisions regarding consumer financial products and services; and</text></paragraph>
<paragraph id="H2328DE204F8D4CA7B1836A955F8D3DA5"><enum>(2)</enum><text>coordinate efforts among Federal and State agencies, as appropriate, regarding consumer protection measures relating to consumer financial products and services offered to, or used by, students, young consumers, and their families.</text></paragraph></subsection> <subsection id="H74B9A3781E9C4A1B906D214B6BD7C779"><enum>(f)</enum><header>Collection of information; market monitoring</header> <paragraph id="H8BEE98FBBABA438CA8C1E43E3FDDF7E9"><enum>(1)</enum><header>In general</header><text>In carrying out this section, the Assistant Director and Student Loan Borrower Advocate shall have the authority to gather information from time to time regarding the organization, business conduct, markets, and activities of covered persons and service providers.</text></paragraph>
<paragraph id="H650FD2D382B540AB85699DF2CBE3113F"><enum>(2)</enum><header>Sources of information</header><text>In gathering information described under paragraph (1), the Assistant Director and Student Loan Borrower Advocate may gather and compile information from a variety of sources, including examination reports concerning covered persons or service providers, consumer complaints, voluntary surveys and voluntary interviews of consumers, surveys and interviews with covered persons and service providers, and review of available databases.</text></paragraph> <paragraph id="HEFC3818971B54933BF8B4B33C095AAA2"><enum>(3)</enum><header>Authority to require reports and other information</header><text display-inline="yes-display-inline">The Director shall, upon the recommendation of the Assistant Director and Student Loan Borrower Advocate, require covered persons and service providers participating in consumer financial services markets to file with the Bureau, under oath or otherwise, in such form and within such reasonable period of time as the Bureau may prescribe by rule or order, annual or special reports, answers in writing to specific questions, or other information described under section 1022(c)(4).</text></paragraph>
<paragraph id="H2D928085B8704E57A34CC0F3C76B1490"><enum>(4)</enum><header>Limitation</header><text>The Bureau may not use its authorities under this subsection to obtain records from covered persons and service providers participating in consumer financial services markets for purposes of gathering or analyzing the personally identifiable financial information of consumers.</text></paragraph></subsection> <subsection id="H93E3DB80AECB43BFABB3D4CDBE8FDC04"><enum>(g)</enum><header>Definitions</header><text display-inline="yes-display-inline">For purposes of this section:</text>
<paragraph id="HD8D1968803D84BC6AC3091EE00674C19"><enum>(1)</enum><header>Appropriate congressional committees</header><text display-inline="yes-display-inline">The term <term>appropriate congressional committees</term> means the Committees on Education and Labor and Financial Services of the House of Representatives and the Committees on Banking, Housing, and Urban Affairs and Health, Education, Labor, and Pensions of the Senate.</text></paragraph> <paragraph id="H4D22215144444CEF8E0A5E538116C49B"><enum>(2)</enum><header>Truth in Lending Act terms</header><text>The terms <term>private education loan</term> and <term>institution of higher education</term> have the meanings given those terms, respectively, under section 140 of the Truth in Lending Act (<external-xref legal-doc="usc" parsable-cite="usc/15/1650">15 U.S.C. 1650</external-xref>).</text></paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block></subsection>
<subsection id="HFE8FA536CE044475AAAC88253EC74A36"><enum>(b)</enum><header>Clerical amendment</header><text display-inline="yes-display-inline">The table of contents under section 1(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended, in the item relating to section 1035, by striking <quote>Private Education Loan Ombudsman</quote> and inserting <quote>Assistant Director and Student Loan Borrower Advocate</quote>.</text></subsection></section> <section id="H31402544FD0E45E28D8AD667F5A93396"><enum>102.</enum><header>Duties of the Department of Education</header><text display-inline="no-display-inline">Part D of title I of the Higher Education Act of 1965 (<external-xref legal-doc="usc" parsable-cite="usc/20/1018">20 U.S.C. 1018 et seq.</external-xref>) is amended by adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="H7B6C993657B748D2A41782BC88061E5F" style="OLC">
<section id="H308F7328A62547558EBA22B2FCB62937"><enum>144.</enum><header>Memorandum of understanding with the Assistant Director and Student Loan Borrower Advocate</header><text display-inline="no-display-inline">Not later than the end of the 60-day period beginning on the date of enactment of this section, the Secretary of Education, the Chief Operating Officer appointed under section 141(d), and the Student Loan Ombudsman appointed under section 141(f) shall enter into a memorandum of understanding with the Assistant Director and Student Loan Borrower Advocate of the Bureau of Consumer Financial Protection that—</text> <paragraph id="H3883221F249546EE86FFA23A8E976A49"><enum>(1)</enum><text display-inline="yes-display-inline">ensures coordination in providing assistance to and serving borrowers seeking to resolve complaints related to their private education loans or loans made, insured, or guaranteed under title IV; and</text></paragraph>
<paragraph id="H210D1BB44AFE4525AD1B97D077FD8E22"><enum>(2)</enum><text>authorizes the Bureau to access all relevant Department information systems, records, and data, including any relevant information systems, records, or data maintained by contractors of the Department.</text></paragraph></section><after-quoted-block>.</after-quoted-block></quoted-block></section> <enum>II</enum><header>Student Loan Integrity and Transparency</header> <section id="H4FB8692CB6AB4FFC81B4835A6712072A"><enum>201.</enum><header>Definitions</header><text display-inline="no-display-inline">In this title:</text>
<paragraph id="H84BF40D16EB443F092C6E26488BDA61B"><enum>(1)</enum><header>Agency</header><text>The term <term>agency</term> means the Bureau or the Department, as applicable, and the term <term>agencies</term> means both the Bureau and the Department.</text></paragraph> <paragraph id="H6A749B270AF047DBAA146530F8BA3009"><enum>(2)</enum><header>Bureau</header><text>The term <term>Bureau</term> means the Bureau of Consumer Financial Protection.</text></paragraph>
<paragraph id="HF4AED5A39EFD4393A212E15D20210F4C"><enum>(3)</enum><header>Complaint</header><text display-inline="yes-display-inline">The term <term>complaint</term> means a comment, inquiry, or request for assistance from a student loan borrower.</text></paragraph> <paragraph id="H2119298A4D4944BC89EBEFC9CFFF2C7D"><enum>(4)</enum><header>Department</header><text>The term <term>Department</term> means the Department of Education.</text></paragraph>
<paragraph id="H6FDB8B92F73248A1B05657E16DE28CD4"><enum>(5)</enum><header>Assistant Director</header><text display-inline="yes-display-inline">The term <term>Assistant Director</term> means the Assistant Director and Student Loan Borrower Advocate of the Bureau.</text></paragraph> <paragraph id="HCBE04EEB9C1E49A7B6D92B5E6C8DE016"><enum>(6)</enum><header>Federal consumer financial law</header><text display-inline="yes-display-inline">The term <term>Federal consumer financial law</term> has the meaning given that term under section 1002 of the Consumer Financial Protection Act of 2010 (<external-xref legal-doc="usc" parsable-cite="usc/12/5481">12 U.S.C. 5481</external-xref>).</text></paragraph>
<paragraph id="H0E11A862407B4AC49272A4D8CB4EC17B"><enum>(7)</enum><header>Institution of higher education</header><text display-inline="yes-display-inline">The term <term>institution of higher education</term> has the meaning given that term under section 102 of the Higher Education Act of 1965 (<external-xref legal-doc="usc" parsable-cite="usc/20/1002">20 U.S.C. 1002</external-xref>).</text></paragraph> <paragraph id="H87CDA9D022D0440E872300AAEB971129"><enum>(8)</enum><header>Nonpublic information</header><text>The term <term>nonpublic information</term> means—</text>
<subparagraph id="H5DA9E2E95E1F48BC9820931417DC3E3E"><enum>(A)</enum><text display-inline="yes-display-inline">confidential information, as such term is defined under section 1070.2 of title 12, Code of Federal Regulations;</text></subparagraph> <subparagraph id="HA837D479E44748CFAAE773C8A7B191F8"><enum>(B)</enum><text>any information collected by the Department from persons engaged in student financial services activities pursuant to the Department’s oversight and other authorities that is not publicly available; and</text></subparagraph>
<subparagraph id="HE6E5ECDBEE464D608E7BFC2C2E368166"><enum>(C)</enum><text>the name, address, or other personally identifiable information relating to any consumer, including any information so designated by a provider of information.</text></subparagraph></paragraph> <paragraph id="H6CC002043D9D4C7B971C42F0CCEDDA82"><enum>(9)</enum><header>Private education loan</header><text display-inline="yes-display-inline">The term <term>private education loan</term> has the meaning given that term under section 140(a) of the Truth in Lending Act (<external-xref legal-doc="usc" parsable-cite="usc/15/1650">15 U.S.C. 1650(a)</external-xref>).</text></paragraph>
<paragraph id="H5EAEF26A8DE547E7BB8BC43F5BD53FCF"><enum>(10)</enum><header>Provider</header><text>With respect to information shared between the agencies, the term <term>provider</term> means the agency providing the information to the other agency.</text></paragraph> <paragraph id="HAAE2691E44704CD9B44BCFFE97BB46F1"><enum>(11)</enum><header>Receiver</header><text display-inline="yes-display-inline">With respect to information shared between the agencies, the term <term>receiver</term> means the agency receiving the information from the other agency.</text></paragraph>
<paragraph id="HD29AAF5C1ACF44AD9F006ACED523FDB2"><enum>(12)</enum><header>Secretary</header><text>The term <term>Secretary</term> means the Secretary of Education.</text></paragraph> <paragraph id="HBA433EBB1DB24DAFA4BDA0E56554FCE5"><enum>(13)</enum><header>Student financial services</header><text display-inline="yes-display-inline">The term <term>student financial services</term> means consumer financial products or services (as defined under section 1002 of the Consumer Financial Protection Act of 2010 (<external-xref legal-doc="usc" parsable-cite="usc/12/5481">12 U.S.C. 5481</external-xref>)) that are related to students of institutions of higher education, including student loan origination and student loan servicing.</text></paragraph>
<paragraph id="H0365A1294D674FB7AFE4D9ADCAB86F16"><enum>(14)</enum><header>Title IV loans</header><text display-inline="yes-display-inline">The term <term>title IV loans</term> means loans made, insured, or guaranteed under title IV of the Higher Education Act of 1965.</text></paragraph></section> <section id="H2B84B8BFF3D941A48009C9D51C4A91B9"><enum>202.</enum><header>Cooperation between the Bureau and the Department</header> <subsection id="H5251C063A84D457C9ADCB7F212FC0072"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">The Assistant Director and the Secretary shall—</text>
<paragraph id="H37073FB595A34F5983C39F4C9854AA71"><enum>(1)</enum><text>establish points of contact between the Bureau and the Department with respect to Bureau supervision and Department oversight matters that are of common jurisdiction to both the Bureau and the Department;</text></paragraph> <paragraph id="H3B88A8C9B29443809ADC90E074C9103E"><enum>(2)</enum><text display-inline="yes-display-inline">share with each other the Bureau’s schedule of examinations and the Department’s schedule of reviews of persons engaged in offering or providing student financial services that are subject to the Bureau’s supervisory authority and the Department’s oversight authority;</text></paragraph>
<paragraph id="H6FA78E570C7748A582B086B7FA81E764"><enum>(3)</enum><text display-inline="yes-display-inline">coordinate the Bureau’s supervision activities and the Department’s oversight activities to promote the efficient use of resources;</text></paragraph> <paragraph id="H43D2CBE5C61E4CDDAD2FA8EA657086AF"><enum>(4)</enum><text display-inline="yes-display-inline">meet at least quarterly to discuss observations about the nature of complaints received by the Bureau and the Department, characteristics of borrowers, and available information about resolution of complaints, as well as analysis and recommendations; and</text></paragraph>
<paragraph id="H13EA5833701D4B6582C8550646AA0952">
<enum>(5)</enum>
<text>work to ensure the Bureau and the Department understand the respective reporting categories and definitions of each agency and how such categories and definitions relate to each other for comparison.</text>
</paragraph></subsection>
<subsection id="H9FE1AB9EBB364803A799BAF311E957A7"><enum>(b)</enum><header>Sharing of information</header>
<paragraph id="H3CBE49BAC15A4F6B8F92BA05C11BA3B8"><enum>(1)</enum><header>Bureau access to Department databases</header><text display-inline="yes-display-inline">For the purpose of the Bureau’s congressional reporting, research, market analysis, complaint resolution, enforcement, supervision, financial education, engagement, and rulemaking needs, the Secretary shall work with the Bureau to provide the Bureau with access to Department databases, as applicable.</text></paragraph> <paragraph id="HDDA14F0FA4154EF1A4872C01071A33B7"><enum>(2)</enum><header>Consumer complaints</header> <subparagraph id="HE28528629B664C0BA9D32E08CFE0F504"><enum>(A)</enum><header>Bureau access to Department consumer complaints</header><text display-inline="yes-display-inline">The Assistant Director may request and obtain information from the Secretary concerning consumer complaints and other information pertaining to specific entities or classes of entities that are relevant to the exercise of the Bureau’s supervisory, enforcement, or regulatory functions.</text></subparagraph>
<subparagraph id="H3E7F49FBA0204B1B8544AD56628243D9"><enum>(B)</enum><header>Sharing of student loan borrower complaints</header>
<clause id="HD20AF100EADE4FBD825AA25B602DBA9E"><enum>(i)</enum><header>In general</header><text>The Assistant Director and the Secretary shall transfer each complaint received by their agency from student loan borrowers to the other agency.</text></clause> <clause id="H811BCF396C58482E8D5DE2ED12982DE1"><enum>(ii)</enum><header>Deadline for sharing certain complaints</header><text display-inline="yes-display-inline">With respect to a complaint received by the Bureau related to the origination, disbursement, or servicing of a title IV loan or a complaint received by the Department related to a private education loan, the applicable agency shall direct the complaint to the other agency within 10 days of receipt of the complaint.</text></clause></subparagraph>
<subparagraph id="HED6790A8592E4F9295546E3965134E12"><enum>(C)</enum><header>Addressing complaints related to defaulted title IV loans</header><text display-inline="yes-display-inline">The Assistant Director and the Secretary shall establish an efficient collaborative process to address complaints received by the Bureau about private collection agency actions related to defaulted title IV loans.</text></subparagraph> <subparagraph id="H666D64260FEE4B319F077A6526A53B1B"><enum>(D)</enum><header>Standards for the format and sharing of complaint data</header> <clause id="H3BC0E215866E440EB2C02619B256A23F"><enum>(i)</enum><header>Format</header><text display-inline="yes-display-inline">In providing complaint data described under this paragraph, the Assistant Director and the Secretary shall provide the complaint data in a secure, digital format.</text></clause>
<clause id="H266F6893777046AEA94996404399D1E0"><enum>(ii)</enum><header>Process</header><text display-inline="yes-display-inline">The Assistant Director and the Secretary shall establish an efficient, secure, and legally compliant process to provide complaint data.</text></clause></subparagraph></paragraph> <paragraph id="H2A0751DEDC304E50962D2C960D23335F"><enum>(3)</enum><header>Certain tax return information</header><text display-inline="yes-display-inline"><external-xref legal-doc="usc" parsable-cite="usc/26/6103">Section 6103(l)(13)(D)</external-xref> of the Internal Revenue Code of 1986 is amended by adding at the end the following:</text>
<quoted-block style="OLC" id="H6FDA3CAB5BF047EBB4AC47BBF9856E0B" display-inline="no-display-inline">
<clause id="H128F8E63ACBF4343AF92DC6BFB70ACE4"><enum>(vii)</enum><header>Redisclosure to the Bureau of Consumer Financial Protection</header><text display-inline="yes-display-inline">Authorized persons may redisclose return information received under subparagraph (C) to the Assistant Director and Student Loan Borrower Advocate of the Bureau of Consumer Financial Protection to the extent necessary to carry out the oversight activities of the Bureau of Consumer Financial Protection.</text></clause><after-quoted-block>.</after-quoted-block></quoted-block></paragraph> <paragraph id="H9F59238043B94CBA9022119BB4B3CCA4"><enum>(4)</enum><header>Other information</header><text display-inline="yes-display-inline">In addition to the information permitted to be shared under this section, the Assistant Director and the Secretary may share any other information with each other as the Assistant Director and the Secretary determine appropriate.</text></paragraph>
<paragraph id="HF089DBB5DACF4A809488ADEC79E3006F"><enum>(5)</enum><header>Amendment to title 5</header><text>Section 552a(b) of title 5, United States Code, is amended—</text> <subparagraph id="H99C886E92B2B4CF0B4E08F3F796DF808"><enum>(A)</enum><text>in paragraph (12), by striking <quote>or</quote> at the end;</text></subparagraph>
<subparagraph id="H153865C0BC98447CBB52B54D3ADAF699"><enum>(B)</enum><text>in paragraph (13), by striking the period at the end and inserting <quote>; or</quote>; and</text></subparagraph> <subparagraph id="HED1C02A3772842349BCB54D3ACD0AB17"><enum>(C)</enum><text>by adding at the end the following:</text>
<quoted-block style="USC" id="H9DC4663EB4734639AA2A5B1E16EAE224" display-inline="no-display-inline">
<paragraph id="HD82337709B114067ACEC81B872FDAE31"><enum>(14)</enum><text display-inline="yes-display-inline">a disclosure between the Secretary of Education and the Assistant Director and Student Loan Borrower Advocate of the Bureau of Consumer Financial Protection authorized under the Students and Young Consumers Empowerment Act.</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></subparagraph></paragraph> <paragraph id="H08C541F4204348B5917908E5B61BCE94"><enum>(6)</enum><header>Data privacy</header> <subparagraph id="H47D736BCEF4D407AB32FA5FDDA369CDA"><enum>(A)</enum><header>Memorandum of understanding</header><text display-inline="yes-display-inline">The Assistant Director and the Secretary shall enter into one or more memoranda of understanding to address data privacy issues related to information shared between the Bureau and the Department pursuant to this title.</text></subparagraph>
<subparagraph id="H95C71FE6736341C69556CDC45D8E9BFE"><enum>(B)</enum><header>Safeguarding nonpublic information</header><text display-inline="yes-display-inline">The Assistant Director and the Secretary shall establish and maintain such safeguards as are necessary and appropriate to protect the confidentiality of any nonpublic information received by their agency pursuant to this title (as well as any derived information), including—</text> <clause id="H8B97201123F740FD935BE412B9E091C2"><enum>(i)</enum><text>restricting access to the nonpublic information to only those of officers, employees, and contractors who have a need for such information to carry out the receiver’s responsibilities under applicable law;</text></clause>
<clause id="H2E0E186433A2457B8B3B9AA739686A99"><enum>(ii)</enum><text>informing those persons who are provided access to the nonpublic information of their responsibilities under this title; and</text></clause> <clause id="H9995BAC7CD2143299D988F3A704A45CF"><enum>(iii)</enum><text>ensuring that the nonpublic information is protected in accordance with the standards applicable to Federal agencies for protection of the privacy and confidentiality of personally identifiable information and for data security and integrity.</text></clause></subparagraph></paragraph></subsection>
<subsection id="HF729DC708E3F48E9B973C6F52F3B1903"><enum>(c)</enum><header>Handling of complaints by the Bureau</header><text display-inline="yes-display-inline">The Assistant Director shall—</text> <paragraph id="H863753170CFD4BAC9D8F667ACAA5ACDA"><enum>(1)</enum><text>accept complaints related to private education loans and the servicing of title IV loans; and</text></paragraph>
<paragraph id="H7BFAF6BD7B72444591F2A50653830EFA"><enum>(2)</enum><text display-inline="yes-display-inline">process such complaints, including, where appropriate, providing the complaints to the applicable servicer and providing any response from the servicer to the borrower, in accordance with section 1034 of the Consumer Financial Protection Act of 2010 (<external-xref legal-doc="usc" parsable-cite="usc/12/5534">12 U.S.C. 5534</external-xref>).</text></paragraph></subsection> <subsection id="H9C1EFAAF052B46BCA9ACBBF3BD37C255"><enum>(d)</enum><header>Title IV loan servicer requirement</header><text display-inline="yes-display-inline">The Secretary may not enter into an agreement with a contractor or vendor for the servicing of title IV loans unless the contractor or vendor, as part of that agreement, agrees to provide the Bureau, upon request, any information that the contractor or vendor is required to provide the Department.</text></subsection>
<subsection id="HEDFA51A4A48A405A82DB7B9FC421BD75"><enum>(e)</enum><header>Responsibilities of the agencies by type of complaint</header>
<paragraph id="HA463C59727E34418A9C1162C79FE4B2B"><enum>(1)</enum><header>Complaints regarding the title IV loan programs</header><text display-inline="yes-display-inline">With respect to complaints regarding the title IV loan programs, the Department is responsible for—</text> <subparagraph id="HDA8CA0CBE0284D878F104A80230D3939"><enum>(A)</enum><text>program issue resolution;</text></subparagraph>
<subparagraph id="H80A6F01F3A414F1E9A0EF8F5623AC799"><enum>(B)</enum><text>attempting to resolve such complaints; and</text></subparagraph> <subparagraph id="H4388AA0C8E2241AEA8C6C068F34A36C3"><enum>(C)</enum><text>as appropriate, discussing such complaints with the Bureau regarding the impact, if any, on Federal consumer financial law.</text></subparagraph></paragraph>
<paragraph id="HA9BB27F0CF1E4258A39F9216405682C3"><enum>(2)</enum><header>Complaints regarding title IV loans with Federal consumer financial law issues</header>
<subparagraph id="H2ACF0998B689421C9D2DC97EAB3B66AC"><enum>(A)</enum><header>In general</header><text>With respect to complaints regarding title IV loans with Federal consumer financial law issues—</text> <clause id="HB2C1A735D33744839D726F8832C81DFA"><enum>(i)</enum><text>the Department shall collaborate with the Bureau;</text></clause>
<clause id="HDAECC699B63E4210A0A658A17D63D0BB"><enum>(ii)</enum><text>the Bureau is responsible for providing the Department with expertise, analysis, and recommendations regarding resolution consistent with Federal consumer financial law; and</text></clause> <clause id="H6511AA219D024FFAADF754CF1FF2CFB9"><enum>(iii)</enum><text display-inline="yes-display-inline">the Department is responsible for attempting to resolve informally such complaints, in accordance with section 141(f)(3)(A) of the Higher Education Act of 1965 (<external-xref legal-doc="usc" parsable-cite="usc/20/1018">20 U.S.C. 1018(f)(3)(A)</external-xref>), with the Bureau’s input.</text></clause></subparagraph>
<subparagraph id="H02497017BF1945EEAF54918377AD7D4A"><enum>(B)</enum><header>Interagency process to discuss, track, and resolve complaints</header><text display-inline="yes-display-inline">The Assistant Director and the Secretary shall determine an efficient process to—</text> <clause id="H35996981C8884856A19F6CF1B85D2CE5"><enum>(i)</enum><text display-inline="yes-display-inline">discuss and track complaints related to both a title IV loan and a private education loan; and</text></clause>
<clause id="H56DD1B2E8CD64B198CD21DA0A611924B"><enum>(ii)</enum><text display-inline="yes-display-inline">collaborate, where possible, to attempt to resolve such complaints, including through the use of the ombudsmen established under section 1035 of the Consumer Financial Protection Act of 2010 (<external-xref legal-doc="usc" parsable-cite="usc/12/5535">12 U.S.C. 5535</external-xref>) and section 141(f) of the Higher Education Act of 1965 (<external-xref legal-doc="usc" parsable-cite="usc/20/1018">20 U.S.C. 1018(f)</external-xref>).</text></clause></subparagraph></paragraph> <paragraph id="HBD6737735B674D4CABC9464E1EDA7970"><enum>(3)</enum><header>Complaints regarding private education loans with Federal consumer financial law issues</header><text display-inline="yes-display-inline">With respect to complaints regarding private education loans, the Bureau is responsible for—</text>
<subparagraph id="H8AD666D2C7FA4E479CCB9FE83209068D"><enum>(A)</enum><text display-inline="yes-display-inline">attempting to resolve informally such complaints, in accordance with section 1035(c)(1) of the Consumer Financial Protection Act of 2010 (<external-xref legal-doc="usc" parsable-cite="usc/12/5535">12 U.S.C. 5535(c)(1)</external-xref>); and</text></subparagraph> <subparagraph id="H0C4C1B69120447E694E302E64F399DAC"><enum>(B)</enum><text display-inline="yes-display-inline">as appropriate, discussing issues with the Department regarding products offered by institutions of higher education or to students or prospective students, or other issues that may impact Federal programs overseen by the Department.</text></subparagraph></paragraph></subsection>
<subsection id="HC326BFF57FF043CEAA0B996309EC03FA"><enum>(f)</enum><header>Payment of costs</header>
<paragraph id="H490BBCAB1A384509AFA5355C24B6A232"><enum>(1)</enum><header>In general</header><text>The Bureau and the Department shall each bear its own costs of complying with this title.</text></paragraph> <paragraph id="H1D4484F4DC9D4EA386EE088C12E144EC"><enum>(2)</enum><header>Interagency agreement for transfer of funds</header><text>If funds are transferred between the Bureau and the Department for the provision of goods or services authorized by this title, including access to Department databases described under subsection (b)(1), such transfer shall be accomplished by a separate interagency agreement.</text></paragraph></subsection>
<subsection id="HC9DBBAB4F61E4D1898F9EE716C3D8F53"><enum>(g)</enum><header>Rules of Construction</header>
<paragraph id="H238E5EA8BB5B42929EBCB4411ED3778A"><enum>(1)</enum><text display-inline="yes-display-inline">Nothing in this title may be construed to limit the existing authorities of the Bureau or the Department.</text></paragraph> <paragraph id="H0C7BA1EC4D3C4C6D84643539ED6D7B54"><enum>(2)</enum><text display-inline="yes-display-inline">Nothing in this title may be construed to prohibit the Bureau or the Department from entering into memoranda of understanding to establish additional policies and procedures related to the requirements of this title.</text></paragraph>
<paragraph id="H131EF8933E1949DD9060D888C4956618"><enum>(3)</enum><text display-inline="yes-display-inline">Nothing in this title may be construed to prevent an agency from complying with a legally valid or enforceable order of a court of competent jurisdiction, or, if compliance is compulsory, with a request or demand from a duly authorized committee of the United States Senate or House of Representatives.</text></paragraph></subsection></section>