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S.1384 - Andrew's Law114th Congress (2015-2016)

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Sponsor: Sen. Schumer, Charles E. [D-NY] (Introduced 05/19/2015)
Committees: Senate - Health, Education, Labor, and Pensions
Latest Action: Senate - 05/19/2015 Read twice and referred to the Committee on Health, Education, Labor, and Pensions.  (All Actions)

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This bill has the status Introduced

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Summary: S.1384 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for S.1384. Bill summaries are authored by CRS.

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Introduced in Senate (05/19/2015)

Andrew Prior Act or Andrew's Law

This bill amends the Truth in Lending Act to discharge the repayment obligations of the estate of a borrower and any cosigner of a private educational loan if the borrower dies.

The Consumer Financial Protection Bureau (CFPB) must develop necessary and appropriate safeguards to prevent fraud and abuse in the discharge of those obligations.

The CFPB may promulgate regulations to reinstate those obligations in any case in which it determines that doing so is necessary to protect the public interest.