WASHINGTON — Dealer and education groups are urging federal agencies to exempt tender option bonds, as well as nonprofit and state agency student loan organizations, from risk retention rules mandated by the Dodd-Frank Act.

The Securities Industry and Financial Markets Association and the Education Finance Council submitted comment letters to the Securities and Exchange Commission and other agencies, saying certain types of munis should not be covered by rules designed to ensure that the interests of sponsors of asset-backed securities transactions are aligned with the interests of investors.

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