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Third Circuit Finds Student Loan Trusts Covered Persons under CFPA

Consumer Financial Protection Bureau v. The National Collegiate Master Student Loan Trusts Third Circuit Court ruled that Trusts were covered persons under Consumer Financial Protection Act CFPA despite having no employees and contracting with special servicers and subservicers to service and collect on the student loans.
United States Victor Celis Stephanos Bibas Ellen Holloman Stuart Goldstein National Collegiate Student Loan Trusts The

Federal Court Holds That Student Loan Trusts Are Subject to CFPB Enforcement Authority: What This Means for Consumer Securitizations and Other Whole Loan Buyers | Cadwalader, Wickersham & Taft LLP

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...
United States Stephanos Bibas Ellen Holloman National Collegiate Student Loan Trusts The Natl Collegiate Master Student Loan Wickersham Taft

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