Except to the extent prohibited by federal law, for each student education loan sold, assigned, transferred or serviced, a licensee shall retain records of each transaction for at least three (3) years after final payment is made on the student educational loan, or after the assignment or transfer of the student education loan, whichever first occurs.
Each licensee shall make applicable books and records available to the Commissioner or send such records to the Commissioner by registered or certified mail, return receipt requested, or by any express delivery carrier that provides dated delivery receipt, no later than fifteen (15) business days after the Commissioner's official request. Upon request, the Commissioner may grant a licensee additional time to make such books and records available.
The records in §§ 3018.1 and 3018.2 shall not be subject to public disclosure under the Freedom of Information Act of 1976, effective March 29, 1977 (D.C. Law 1-96; D.C. Official Code §§ 2-531et seq.).
The Commissioner may waive or reduce requirements in this section if the Commissioner determines that compliance would re quire the licensee to violate federal law.
D.C. Mun. Regs. tit. 26, r. 26-C3018