Relates to an exemption from the licensing requirements for servicers of student loans

Latest action Dec 5, 2025

Relates to an exemption from the licensing requirements for servicers of student loans.

Not chosen yet

Where it stands

Signed into law.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

New York State Senate

Same as A8067, the matching bill in the Assembly.

Passed as A8067, the matching Assembly bill.

Amends the Banking Law.

Committee

Banks · New York State Assembly

Also referred to Banks · New York State Senate, Rules · New York State Assembly, Rules · New York State Senate.

Purpose, from the sponsor's memo

Requires exempt student loan servicers to comply with the student loan servicer reporting requirements under article 9 of the financial services law.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Recorded votes

Vote: Floor vote
NY SenateJun 12, 2025Result: passedSenate vote on A8067, the matching Assembly bill.
(59) (0) (0) (4)
Vote: Committee vote · Banks
Senate BanksMay 20, 2025Result: passed
(6) (1) (0) (0)

Cosponsors

Chris Burdick and Manny De Los Santos

Democratic2

See the full list on nysenate.gov

The sponsor's argument

Why James Sanders Jr. says this is needed

Although certain student loan servicers are exempt from licensing under article 14-A of the banking law, they are still required to comply with certain student loan servicer laws and regulations. To promote greater transparency in the student loan market, this bill clarifies that such exempt student loan servicers are required to comply with article 9 of the financial services law, which establishes student loan reporting requirements. Such student loan reporting requirements include, without limitation, information on trends in loan origination, terms and conditions, differ- ences in financing costs across demographic groups, and default rates. No identifying information on student loan borrowers is required to be reported.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Full history

Dec 5, 2025
Signed
SIGNED CHAP.589
NY Assembly
Dec 1, 2025
Sent to the executive
DELIVERED TO GOVERNOR
NY Assembly
Jun 12, 2025
3RD Reading CAL.1173
3RD READING CAL.1173
NY Senate
Jun 12, 2025
Passed a chamber
PASSED SENATE
NY Senate
Jun 12, 2025
Substituted
SUBSTITUTED FOR S7752A
NY Senate

Show full history (12 earlier events)

Jun 11, 2025
Sent to the executive
DELIVERED TO SENATE
NY Assembly
Jun 11, 2025
Passed a chamber
PASSED ASSEMBLY
NY Assembly
Jun 11, 2025
Referred to committee
REFERRED TO RULES
NY Senate
Jun 4, 2025
Amended
AMENDED ON THIRD READING (T) 7752A
NY Senate
May 22, 2025
Advanced to Third Reading
ADVANCED TO THIRD READING
NY Senate
May 21, 2025
2ND Report CAL.
2ND REPORT CAL.
NY Senate
May 20, 2025
1ST Report CAL.1173
1ST REPORT CAL.1173
NY Senate
May 19, 2025
Amended
AMENDED ON THIRD READING (T) 8067A
NY Assembly
May 5, 2025
Referred to committee
REFERRED TO BANKS
NY Senate
May 1, 2025
Advanced to Third Reading CAL.118
ADVANCED TO THIRD READING CAL.118
NY Assembly
Apr 30, 2025
Reported out of committee
REPORTED
NY Assembly
Apr 23, 2025
Referred to committee
REFERRED TO BANKS
NY Assembly

About this record

Summary: The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
Cosponsors: The list shows the cosponsors who are on Agora, A to Z. The official record may list more.
Party colors: Parties are shown in the same neutral colors.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 22, 2026. About our data

Read the record

Read on NY Senate (opens in a new tab) The official record on nysenate.gov.

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