An Informal Agency Action Can Be Important Because It Warns

question 63

True/False

An informal agency action can be important because it warns regulated entities that the agency may engage in formal rulemaking if its informal policy is ignored.

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Definitions:

Student Loans

Financial aid provided to students to help pay for education expenses, typically requiring repayment with interest after graduation or upon leaving school.

Garnishment

Garnishment is a legal process by which a creditor obtains a court order to redirect a portion of an individual's earnings or assets directly from third parties, like employers or banks, to satisfy a debt.

Post-Judgment Remedy

Legal means available to a creditor to collect what is owed following a court judgment.

Bankruptcy Code

The set of laws that govern bankruptcy proceedings, providing protection to indebted individuals and entities seeking to rearrange or eliminate their debts.