Maine Revised Statutes Title 9-A Sec. 14-110 – Compliance with federal law
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Terms Used In Maine Revised Statutes Title 9-A Sec. 14-110
- Servicing: means :
A. See Maine Revised Statutes Title 9-A Sec. 14-103Student education loan: means a loan that is extended to a student loan borrower expressly for postsecondary education expenses or other school-related expenses and does not include open-ended credit or any loan that is secured by real property. See Maine Revised Statutes Title 9-A Sec. 14-103 Student loan servicer: means a person, wherever located, responsible for the servicing of a student education loan to a student loan borrower. See Maine Revised Statutes Title 9-A Sec. 14-103 Superintendent: means the Superintendent of Consumer Credit Protection within the Department of Professional and Financial Regulation. See Maine Revised Statutes Title 9-A Sec. 14-103 Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72
A student loan servicer shall comply with all applicable federal laws and regulations relating to student education loan servicing, including, but not limited to, the federal Truth in Lending Act, 15 United States Code §§ 1601 to 1667f (2010), as amended, and the regulations adopted pursuant to that Act. In addition to any other remedies provided by law, a violation of that Act or regulations adopted pursuant to that Act is a violation of this section and a basis upon which the superintendent may take enforcement action pursuant to this Article. [PL 2019, c. 431, §2 (NEW); PL 2019, c. 431, §4 (AFF).]
SECTION HISTORY
PL 2019, c. 431, §2 (NEW). PL 2019, c. 431, §4 (AFF).