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ARTICLE · 09 JULY 2018

Amended Current Federal Laws Bring Changes For Higher Education Institutions

In late May, the Economic Growth, Regulatory Relief, and Consumer Protection Act (aka Bill S.2155) was signed into law.

United StatesFinance and Banking

In late May, the Economic Growth, Regulatory Relief, and Consumer Protection Act (aka Bill S.2155) was signed into law. The act covers a wide range of issues related to banking and lending regulations (which are currently being discussed in depth on Thompson Coburn's Bank Check blog). While the act primarily affects banks and financial institutions, changes to the Truth in Lending Act (TILA) and the Fair Credit Reporting Act will impact the way that schools manage institutional loans as well. Read the text of the bill here, under TITLE VI: Protections for Student Borrowers.

What do the changes mean for your school? Here are the three important sections of the legislation you need to understand.

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