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Inside Washington (07/02/2008)
* WASHINGTON (7/3/08)--The Federal Deposit Insurance Corp. (FDIC) is encouraging banks to follow certain legal requirements when reducing or suspending home equity lines of credit (HELOCs). The FDIC sent a financial institution letter last week outlining its regulatory considerations. The agency urged institutions to work with borrowers when possible to mitigate financial hardships. It also warned that banks could face penalties for failing the meet the outlined legal standards ...


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