News & Analysis as of

Student Loans Securitization

Mayer Brown

In Another Reversal, the CFPB Dismisses Case Against National Collegiate Student Loan Trusts

Mayer Brown on

On April 28, 2025, the District Court for the District of Delaware granted a joint motion to dismiss with prejudice a lawsuit brought by the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) against the National...more

Goodwin

CFPB Files Complaint and Proposed Final Judgments Against Higher Education Assistance Agency and National Collegiate Student Loan...

Goodwin on

​​​​​​​On May 6, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint ​and two proposed stipulated final judgments to resolve its claims against the National Collegiate Student Loan...more

Cadwalader, Wickersham & Taft LLP

Third Circuit Decides Statutory Trusts Are Covered Persons: What This Means for the Securitization Market

On March 19, 2024, the Third Circuit handed down a decision that statutory trusts used as issuing entities for securitizations are considered “covered persons” for purposes of the Consumer Financial Protection Act ("CFPA"),...more

Mayer Brown

Third Circuit Holds Securitization Trusts Can Be Subject to CFPB Enforcement Authority

Mayer Brown on

In a long-awaited decision, the Third Circuit handed the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) a victory in the National Collegiate Student Loan Trust litigation that could have wide-reaching implications...more

Mayer Brown

CFPB Wins Reversal of Dismissal – And Key Ruling on Securitization Trusts

Mayer Brown on

Earlier last week, the Consumer Financial Protection Bureau (“CFPB”) won an important court ruling in a long-running case against student loan securitization trusts. The case has a long (and for the CFPB, somewhat ignoble)...more

Cadwalader, Wickersham & Taft LLP

Federal Court Holds That Student Loan Trusts Are Subject to CFPB Enforcement Authority: What This Means for Consumer...

On December 13, 2021, Judge Stephanos Bibas, visiting judge in the U.S. District Court for the District Delaware from the U.S. Court of Appeals for the Third Circuit, denied a motion to dismiss a lawsuit brought by the...more

Cadwalader, Wickersham & Taft LLP

CFPB Suit Against Student Loan Trusts Dismissed

On March 26, 2021, Judge Maryellen Noreika of the U.S. District Court for the District of Delaware dismissed a lawsuit brought by the Consumer Financial Protection Bureau (“CFPB”) in Consumer Financial Protection Bureau v....more

Cadwalader, Wickersham & Taft LLP

Forward Movement in the Bureau of Consumer Financial Protection’s Student Loan Litigation: What This Means for Securitization

In September 2017, the Bureau of Consumer Financial Protection (the “Bureau”) brought an enforcement action against the National Collegiate Student Loan Trusts for alleged violations of consumer financial protection laws in...more

Hogan Lovells

Debt capital markets - Global insights - Summer 2018

Hogan Lovells on

At Hogan Lovells, we follow industry trends very closely and we take great care to listen to our clients and contacts – to understand the issues they face and how the industry is changing. Our Debt Capital Markets – Global...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

CFTC Reduces Marketplace Barriers for Global Development Initiatives - On May 16, 2018, the Commodity Futures Trading Commission's ("CFTC") Division of Swap Dealer and Intermediary Oversight ("DSIO") granted relief to...more

Goodwin

CFPB, Student Loan Securitizer, and Debt Collector Agree to Combined $21.6 Million Settlement for Alleged Illegal Collection...

Goodwin on

On September 18, 2017, the Consumer Financial Protection Bureau (“CFPB”) announced that it had entered into a settlement and proposed consent judgment with a student loan owner and securitizer, and a separate consent judgment...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

SEC Approves Rules to Ease Investor Access to Exhibits in Company Filings - On March 1, 2017, the Securities and Exchange Commission (SEC) voted to adopt rule and form amendments that will require issuers to include a...more

Cadwalader, Wickersham & Taft LLP

Application of New Debt-Equity Regulations to Securitizations

On October 13, 2016, Treasury and the IRS issued new final and temporary “anti-inversion” regulations under section 385 of the Internal Revenue Code that could treat certain purchasers of notes issued by securitizations as...more

Orrick - Finance 20/20

Rating Agency Developments - Febuary 04, 2013

On February 1, Fitch updated its methodology for analyzing non-performing loan securitizations. On February 1, Fitch updated the public sector liquidity and spread assumption addendum for its covered bonds criteria....more

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