A long-awaited Third Circuit decision held that securitization trusts holding student loans are “covered persons” subject to the CFPB’s enforcement and investigative powers because they “engage” in offering or providing...more
5/7/2024
/ Appeals ,
Civil Monetary Penalty ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Person ,
Due Diligence ,
Petition for Writ of Certiorari ,
SCOTUS ,
Securitization ,
Unfair or Deceptive Trade Practices
In seven short years, the Consumer Financial Protection Bureau (CFPB) has managed to court controversy across the political spectrum. Under the leadership of former Director Richard Cordray, the bureau (for better or worse)...more