[Congressional Record Volume 164, Number 40 (Wednesday, March 7, 2018)]
[Senate]
[Pages S1492-S1493]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2130. Mr. REED submitted an amendment intended to be proposed by 
him to the bill S. 2155, to promote economic growth, provide tailored 
regulatory relief, and enhance consumer protections, and for other 
purposes; which was ordered to lie on the table; as follows:

       At the end of title III, add the following:

     SEC. 308. EDUCATION LOAN OMBUDSMAN.

       Section 1035 of the Consumer Financial Protection Act of 
     2010 (12 U.S.C. 5535) is amended--
       (1) in the section heading, by striking ``private'';
       (2) in subsection (a)--
       (A) by striking ``a Private'' and inserting ``an''; and
       (B) by striking ``private'';
       (3) in subsection (b), by striking ``private education 
     student loan'' and inserting ``education loan'';

[[Page S1493]]

       (4) in subsection (c)--
       (A) in the matter preceding paragraph (1), by striking 
     ``subsection'' and inserting ``section'';
       (B) in paragraph (1), by striking ``private'';
       (C) by striking paragraph (2) and inserting the following:
       ``(2) coordinate with the unit of the Bureau established 
     under section 1013(b)(3), in order to monitor complaints by 
     education loan borrowers and responses to those complaints by 
     the Bureau or other appropriate Federal or State agency;''; 
     and
       (D) in paragraph (3), by striking ``private'';
       (5) in subsection (d)--
       (A) in paragraph (2)--
       (i) by striking ``on the same day annually''; and
       (ii) by inserting ``and be made available to the public'' 
     after ``Representatives''; and
       (B) by adding at the end the following:
       ``(3) Contents.--The report required under paragraph (1) 
     shall include information on the number, nature, and 
     resolution of complaints received, disaggregated by lender, 
     servicer, region, State, and institution of higher 
     education.''; and
       (6) by striking subsection (e) and inserting the following:
       ``(e) Definitions.--In this section:
       ``(1) Education loan.--The term `education loan' means--
       ``(A) a private education loan, as defined in section 140 
     of the Truth in Lending Act (15 U.S.C.1650); and
       ``(B) a student loan made, insured, or guaranteed under 
     title IV of the Higher Education Act of 1965 (20 U.S.C. 1070 
     et seq.).
       ``(2) Institution of higher education.--The term 
     `institution of higher education' has the meaning given the 
     term in section 140 of the Truth in Lending Act (15 U.S.C. 
     1650).''.
                                 ______