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PUBLIC LAW 111–203—JULY 21, 2010 124 STAT. 2075

SEC. 1076. REVERSE MORTGAGE STUDY AND REGULATIONS. 12 USC 5602.
(a) STUDY.—Not later than 1 year after the designated transfer
date, the Bureau shall conduct a study on reverse mortgage trans-
actions.
(b) REGULATIONS.—
(1) IN GENERAL.—If the Bureau determines through the
study required under subsection (a) that conditions or limita-
tions on reverse mortgage transactions are necessary or appro-
priate for accomplishing the purposes and objectives of this
title, including protecting borrowers with respect to the
obtaining of reverse mortgage loans for the purpose of funding
investments, annuities, and other investment products and the
suitability of a borrower in obtaining a reverse mortgage for
such purpose.
(2) IDENTIFIED PRACTICES AND INTEGRATED DISCLOSURES.—
The regulations prescribed under paragraph (1) may, as the
Bureau may so determine—
(A) identify any practice as unfair, deceptive, or abusive
in connection with a reverse mortgage transaction; and
(B) provide for an integrated disclosure standard and
model disclosures for reverse mortgage transactions, con-
sistent with section 4302(d), that combines the relevant
disclosures required under the Truth in Lending Act (15
U.S.C. 1601 et seq.) and the Real Estate Settlement Proce-
dures Act, with the disclosures required to be provided
to consumers for Home Equity Conversion Mortgages under
section 255 of the National Housing Act.
(c) RULE OF CONSTRUCTION.—This section shall not be con-
strued as limiting the authority of the Bureau to issue regulations,
orders, or guidance that apply to reverse mortgages prior to the
completion of the study required under subsection (a).

SEC. 1077. REPORT ON PRIVATE EDUCATION LOANS AND PRIVATE
EDUCATIONAL LENDERS.
(a) REPORT.—Not later than 2 years after the date of enactment
of this Act, the Director and the Secretary of Education, in consulta-
tion with the Commissioners of the Federal Trade Commission,
and the Attorney General of the United States, shall submit a
report to the Committee on Banking, Housing, and Urban Affairs
and the Committee on Health, Education, Labor, and Pensions
of the Senate and the Committee on Financial Services and the
Committee on Education and Labor of the House of Representatives,
on private education loans (as that term is defined in section
140 of the Truth in Lending Act (15 U.S.C. 1650)) and private
educational lenders (as that term is defined in such section).
(b) CONTENT.—The report required by this section shall
examine, at a minimum—
(1) the growth and changes of the private education loan
market in the United States;
(2) factors influencing such growth and changes;
(3) the extent to which students and parents of students
rely on private education loans to finance postsecondary edu-
cation and the private education loan indebtedness of bor-

LAWS rowers; (4) the characteristics of private education loan borrowers, including—PUBLIC with on anorris VerDate Nov 24 2008 10:40 Sep 02, 2010 Jkt 089139 PO 00203 Frm 00701 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 APPS06 PsN: PUBL203