The larger risk from a barely noticed CFPB lawsuit
SFA CEO Michael Bright discusses how the developments in a court case involving a group of related student loan trusts and the CFPB could present a fundamental risk to all consumer securitizations. In the case at hand, CFPB v National Collegiate Student Loan Trust, the CFPB is attempting to assert that a trust has liability for the alleged mistakes of the servicer of the loans held in the trust. Mr. Bright’s op-ed explains the potential ramifications of this lawsuit to the market.
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