District Circular Letters
July 29, 2013
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Agencies Encourage Lenders to Work with Student Loan Borrowers
On Thursday, July 25, 2013, the federal bank regulatory agencies issued a statement encouraging financial institutions to work constructively with private student loan borrowers experiencing financial difficulties. Prudent workout arrangements are consistent with safe and sound lending practices and are generally in the long-term best interest of both the financial institution and the borrower.
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