Given the parallels between the current student loan debt crisis and the foreclosure crisis of 2010-14, now is a good time to reflect on the lessons learned from past experience. From our experience negotiating comprehensive deals with regulators, advising companies on how to comply in an ever-shifting regulatory landscape, and litigating cases in front of judges and juries suspicious of members of our industry and tired of the ensuing volume of litigation that resulted from the crisis, four lessons stand out: Technical compliance is not enough .

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