On Tuesday, August 13th, SFA, jointly with BPI, filed a motion in the US District Court in the Western District of New York for leave to file an amicus brief in the matter of Peterson v. Chase Card Funding. The brief supports the defendants’ motion to dismiss the case, citing SFA members’ substantial interest in the case representing the securitization market. The brief addresses the importance of securitization funding, federal preemption of state law under the National Bank Act, and the potential negative impact on lending markets of an adverse ruling in favor of plaintiffs in Petersen.
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Read the motion and brief here.