Clifford Chance
SIFMA amicus brief in CFPB v. Nat'l Collegiate Master Student Loan Trust
October 13, 2022
A Clifford Chance team comprising Steve Nickelsburg, Robert Houck, Benjamin Peacock and Minji Reem partnered with the Securities Industry and Financial Markets Association and the U.S. Chamber of Commerce to prepare a Third Circuit amicus brief representing the interests of participants in the asset securitization market. The case brings the question of whether student loan securitization trusts are "covered persons" subject to the Consumer Financial Protection Bureau's enforcement authority.
Partner Steve Nickelsburg commented, "Passive securitization trusts play an important role in creating a deep and affordable credit market – which benefits consumers. We were pleased to help SIFMA and the US Chamber convey the industry's perspective to the court."
For more info, read the brief here.
