Record retention - confidentiality

(1) A private education creditor shall establish and maintain records and permit the administrator to access and copy any records or records systems required to be maintained pursuant to this part 2 or rules of the administrator adopted to implement this part 2. The creditor shall retain loan files, including any records specified for retention under rules of the administrator, for not less than six years after the termination of the credit obligation account. (2) The administrator shall not make public the name or identity of a person whose acts or conduct the administrator investigates or examines pursuant to this part 2 or the facts disclosed in the investigation or examination. (3) The administrator may disclose registration application and renewal records provided to the administrator and other contents of registration records maintained pursuant to this part 2, but the administrator shall not make public the confidential information contained in the records. (4) The restrictions on the disclosure of information in subsections (2) and (3) of this section do not apply to disclosures made by the administrator in furtherance of actions or administrative enforcement proceedings pursuant to this part 2.