D.C. Mun. Regs. tit. 26, r. 26-C2003
Current through Register Vol. 71, No. 49, December 6, 2024
No lender shall encourage or recommend that a borrower default on an existing loan or other debt.
For purposes of § 2003.1, "default" shall include failure to make any payment when due, without relying on a grace period or late payment period, or failure to perform all the terms and conditions of an existing loan or other debt.
A lender shall not encourage or recommend any action by the borrower on existing loans or other debt that will create a default on an existing loan or other debt of the borrower.
D.C. Mun. Regs. tit. 26, r. 26-C2003