Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
030 - BUREAU OF CONSUMER CREDIT PROTECTION
Chapter 601 - ESTABLISHMENT OF RULES TO IMPLEMENT 9-A M.R.S. ARTICLE 14 AND REQUIREMENT FOR LICENSING OF STUDENT LOAN SERVICERS THROUGH THE NATIONWIDE MULTISTATE LICENSING SYSTEM (NMLS)

SUMMARY: This Chapter requires that licensing of student loan servicers be done through the Nationwide Multistate Licensing System (NMLS). The State of Maine will continue to administer the licensing program but will utilize NMLS as the system of record for all student loan servicers. Additionally, the Chapter details certain definitions and requirements in the Student Loan Bill of Rights, 9-A M.R.S. Article 14.

STATUTORY AUTHORITY: 9-A M.R.S. §§6-105 -A(1) and 14-109(H).