S.Amdt. 4017

SA 4017. Mr. ENZI (for himself and Ms. Murkowski) submitted an
amendment intended to be proposed to amendment SA 3739 proposed by Mr.
Reid (for Mr. Dodd (for himself and Mrs. Lincoln)) to the bill S. 3217,
to promote the financial stability of the United States by improving
accountability and transparency in the financial system, to end ``too
big to fail,'' to protect the American taxpayer by ending bailouts, to
protect consumers from abusive financial services practices, and for
other purposes; which was ordered to lie on the table; as follows:

On page 1257, after line 25, insert the following:
(g) William D. Ford Federal Direct Loan Program.--
(1) In general.--Notwithstanding any other provision of
this title, this section shall apply to any Federal
contractor, agent, or employee involved in originating,
servicing, debt collection, refinancing, or other consumer
related activity relating to a loan under the William D. Ford
Federal Direct Loan Program under part D of title IV of the
Higher Education Act of 1965 (20 U.S.C. 1087a et seq.).
(2) Definitions.--For purposes of carrying out this title--
(A) the term ``covered person'' includes any person acting
as a contractor, agent, or employee of the Federal Government
in providing a loan under the William D. Ford Federal Direct
Loan Program;
(B) the term ``enumerated consumer laws'' includes any
provision of the Higher Education Act of 1965 (20 U.S.C. 1001
et seq.) relating to such program; and
(C) the term ``financial product or service'' includes a
loan under such program.
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