,,ii  #aafth ,,congress  #ast ,session  
,s4 #gbj  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,march #g1 #bjai,mr4
 ,udall 7for himself1 ,ms4 ,warren1 ,mr4
 ,blumenthal1 ,mr4 ,brown1 ,mr4 ,van    
,hollen1 ,mr4 ,schatz1 ,ms4 ,harris1    
,ms4 ,klobuchar1 ,ms4 ,duckworth1 and   
,mr4 ,menendez7 introduced the following
 bill2 which was read twice and referred
 to the ,committee on ,health1          
,education1 ,labor1 and ,pensions  ,a   
,,bill  ,to require the student loan    
ombudsman of the ,department of         
,education to provide student loan data 
to the ,bureau of ,consumer ,financial  
,protection1 and for other purposes4    
#a4 ,short title ,this ,act may be cited
 as the ,,cfpb ,student ,loan ,integrity
 and ,transparency ,act of #bjai4  #b4  
,findings ,congress finds the following3
  7#a7 ,the total amount of outstanding 
student loans just surpassed            
#a1ejj1jjj1jjj1jjj4  7#b7 ,student loans
 are the biggest category of consumer   
borrowing after mortgages4  7#c7 ,since 

the ,consumer ,financial ,protection    
,act of #bjaj 7#ab ,u4,s4,c4 #edha et   
seq47 established the ,consumer         
,financial ,protection ,bureau1 the     
,bureau has fought to ensure families   
receive a fair shake as they strive for 
the ,american ,dream4  7#d7 ,the        
,consumer ,financial ,protection ,act of
 #bjaj established the ,consumer        
,financial ,protection ,bureau's ,office
 of ,students and ,young ,consumers in  
#bjab to assist students who are        
mistreated or misled by predatory       
lenders4  7#e7 ,since its creation1 the 
,office of ,students and ,young         
,consumers1 led by the ,student ,loan   
,ombudsman1 has defended military       
families in the ,united ,states from    
predatory lenders and for-profit        
colleges1 and other unscrupulous        
businesses4  7#f7 ,the ,office of       
,students and ,young ,consumers helped  
tens of thousands of active-duty        
military service members who were being 
overcharged for student loans1 and      

coordinating with the ,united ,states   
,justice ,department1 succeeded in      
returning #fj1jjj1jjj to the service    
members1 and required the industry to   
improve its practices4  7#g7 ,the       
,office of ,students and ,young         
,consumers has collected and analyzed   
hundreds of thousands of student        
complaints4  7#h7 ,the ,office of       
,students and ,young ,consumers has     
recovered more than #gej1jjj1jjj on     
behalf of defrauded students4  7#i7 ,the
 ,office of ,students and ,young        
,consumers has been instrumental in the 
shutdown of for-profit universities and 
colleges that had been accused of       
predatory practices4  7#aj7 ,the ,office
 of ,students and ,young ,consumers     
collected data and authored a report    
that showed large banks overcharged     
college students fees that were higher  
than many of their competitors4 ,the    
report remained unpublished by the      
,administration until a recent ,,foia   
request opened it to the public4  7#aa7 

,the ,department of ,education ,office  
of ,inspector ,general released a       
concerning report on ,february #ab1     
#bjai1 that highlighted the alarming    
frequency at which student loan         
contractors and vendors engaged in      
noncompliance with ,federal requirements
 for servicing student loans4  #c4      
,department of ,education student loan  
information ,section #ada7;f77#c7 of the
 ,higher ,education ,act of #aife 7#bj  
,u4,s4,c4 #ajah7;f77#c77 is amended--   
7#a7 by redesignating subparagraphs 7,a7
 and 7,b7 as subparagraphs 7,b7 and     
7,c71 respectively2 and  7#b7 by        
inserting before subparagraph 7,b7 the  
following3  7,a7 provide information    
relating to student loans to the        
,director of the ,consumer ,financial   
,protection ,bureau or the ombudsman of 
the ,consumer ,financial ,protection    
,bureau designated under section #ajce  
of the ,consumer ,financial ,protection 
,act of #bjaj 7#ab ,u4,s4,c4 #eece7 as  
requested by the ,director of the       

,consumer ,financial ,protection ,bureau
 or that ombudsman2  4  #d4 ,student    
loan contractor and vendor agreements   
,part ,g of title ,,iv of the ,higher   
,education ,act of #aife 7#bj ,u4,s4,c4 
#ajhh et seq47 is amended by inserting  
after section #dhf;,a the following3    
#dhf;,b4 ,contractor and vendor         
agreements ,the ,secretary shall not    
enter into an agreement with a          
contractor or vendor that services loans
 under this title unless1 as part of    
that agreement1 such contractor or      
vendor asserts that the contractor or   
vendor will provide information to the  
,director of the ,consumer ,financial   
,protection ,bureau or the ombudsman of 
the ,consumer ,financial ,protection    
,bureau designated under section #ajce  
of the ,consumer ,financial ,protection 
,act of #bjaj 7#ab ,u4,s4,c4 #eece7 as  
requested by the ,director of the       
,consumer ,financial ,protection ,bureau
 or that ombudsman4  4  #e4 ,duty to    
provide adequate staffing2 ,memoranda of

 understanding  7a7 ,duty ,to provide   
adequate staffing ,section #ajac7;a77#a7
 of the ,consumer ,financial ,protection
 ,act of #bjaj 7#ab ,u4,s4,c4           
#edic7;a77#a77 is amended by adding at  
the end the following3  7,d7 ,duty to   
provide adequate staffing               
,notwithstanding subparagraph 7,a71 the 
,director shall ensure that each        
specific functional unit and office     
described under subsections 7b71 7c71   
7d71 7e71 and 7g7 and any other unit and
 office with supervisory and enforcement
 duties1 is provided with sufficient    
staff to carry out the functions1       
duties1 and coordination of that unit or
 office1 as applicable4  4  7b7         
,memoranda of understanding  7#a7       
,reestablishment of memoranda of        
understanding ,the memoranda of         
understanding between the ,bureau of    
,consumer ,financial ,protection and the
 ,department of ,education entitled     
,memorandum of ,understanding ,between  
the ,bureau of ,consumer ,financial     

,protection and the ,u4,s4 ,department  
of ,education ,concerning the ,sharing  
of ,information 7,october #ai1 #bjaa7   
and ,memorandum of ,understanding       
,concerning ,supervisory and ,oversight 
,cooperation and ,related ,information  
,sharing ,between the ,u4,s4 ,department
 of ,education and the ,consumer        
,financial ,protection ,bureau 7,january
 #i1 #bjad7--  7,a7 shall remain in     
effect and may not be terminated by any 
party to such memoranda2 and  7,b7 may  
only be amended or revised if the       
parties to the memoranda determine that 
such amendment or revision would promote
 better interagency coordination to the 
benefit of consumers4  7#b7 ,report on  
current ,m,o,us ,not later than the end 
of the #cj-;day period beginning on the 
date of enactment of this ,act1 the     
,director of the ,bureau of ,consumer   
,financial ,protection shall submit to  
the ,committee on ,banking1 ,housing1   
and ,urban ,affairs of the ,senate and  
the ,committee on ,financial ,services  

of the ,house of ,representatives a     
report listing--  7,a7 each memorandum  
of understanding in effect on ,november 
#bd1 #bjag1 to which the ,bureau of     
,consumer ,financial ,protection was a  
party2  7,b7 any changes made to a      
memorandum described in subparagraph    
7,a7 after ,november #bd1 #bjag1        
including any memorandum of             
understanding rescinded since that date2
 and  7,c7 a justification for each     
change or rescission described in       
subparagraph 7,b74  7#c7 ,semi-annual   
report on ,m,o,us ,section #ajaf7;c7 of 
the ,consumer ,financial ,protection    
,act of #bjaj 7#ab ,u4,s4,c4 #edif7;c77 
is amended--  7,a7 in paragraph 7#h71 by
 striking and at the end2  7,b7 in      
paragraph 7#i71 by striking the period  
at the end and inserting a semicolon2   
and  7,c7 by adding at the end the      
following3  7#aj7 a list of each        
memorandum of understanding in effect1  
as of the date on which the report is   
submitted1 to which the ,bureau is a    

party2  7#aa7 any changes made to a     
memorandum of understanding to which the
 ,bureau is a party after the date on   
which the previous report required under
 subsection 7b7 was submitted2 and      
7#ab7 a justification for each change   
described in paragraph 7#aa74  4