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Securitization Insight Podcast Recaps Third Circuit Ruling on “Covered Persons”

On its Securitization Insight podcast, Norton Rose Fulbright Senior Counsel, Eamonn K. Moran, analyzed a Third Circuit Court of Appeals ruling on a case involving the CFPB and a group of trusts associated with the National Collegiate Student Loan Trust. (See related coverage.) Mr. Moran explained the implications for securitization trusts and their classification as "covered persons" under the CFPA, and what it suggests in terms of potential enforcement action by the CFPB in the future.

Primary Sources

  1. Norton Rose Fulbright: Podcasts: Securitization Insight Ep 57: Third Circuit Says Student Loan Trusts Are “Covered Persons” Subject to the CFPA

Related Articles

  • Third Circuit Says Student Loan Trusts Are "Covered Persons" Subject to the CFPA

    In CFPB v. National Collegiate Master Student Loan Trust, et. al., a three-judge panel of the U.S. Circuit Court of Appeals for the Third Circuit considered two issues: (i) whether the fifteen appellant trusts were "covered persons" subject to the CFPA and (ii) whether the original lawsuit had to be ratified because the action was initiated while there was a constitutional deficiency within the CFPB.

    Commentary by Eamonn Moran

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Norton Rose Fulbright