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

This bill exempts student loan servicers from New York's licensing requirements under banking law, directly affecting companies that manage student loan accounts in the state. It requires these exempt servicers to notify the state superintendent they are operating in New York and comply with specific existing regulations covering student loan practices and financial services. The law removes a licensing barrier while maintaining oversight through notification and adherence to established rules. The bill became law on December 5, 2025, after being signed by the governor.