18
V
CONDUCT PROVISIONS
IT IS ORDERED, under §§ 1053 and 1055 of the CFPA, that:
64. Respondent and its officers, agents, servants, employees, and
attorneys who have actual notice of this Consent Order, whether
acting directly or indirectly, in connection with student loan servicing,
may not violate Sections 1031 and 1036 of the CFPA, 12 U.S.C. §§
5531 and 5536.
65. Respondent and its officers, agents, servants, employees, and
attorneys who have actual notice of this Consent Order, whether
acting directly or indirectly, must consider compliance with the
Consent Order in any new initiatives affecting its student loan
servicing, including transfer to, acquisition, or implementation of new
technologies, systems, or platforms, and implement measures
reasonably necessary to achieve compliance with this Consent Order
in the execution of such initiatives.
66. Respondent and its officers, agents, servants, employees, and
attorneys who have actual notice of this Consent Order, whether
acting directly or indirectly, in connection with student loan servicing,
2020-BCFP-0026 Document 1 Filed 12/22/2020 Page 18 of 54