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Home » US Law » 2022 New York Laws » Consolidated Laws » EDN - Education » Title 1 - General Provisions » Article 13-B - Student Lending Accountability, Transparency and Enforcement Act » 621 – Prohibition of Gifts Made by Lending Institutions to Covered Institutions and Their Employees.

§ 621. Prohibition of gifts made by lending institutions to covered institutions and their employees. 1. A lending institution may not, directly or indirectly, offer or provide any gift to a covered institution or a covered institution employee, in exchange for any advantage or consideration provided to such lending institution related to its educational loan activities.

2. A lending institution may not engage in revenue sharing with a covered institution.