Kasowitz Secures Denial of CFPB’s Consent Judgment in National Collegiate Student Loan Trusts Case

Kasowitz Secures Denial of CFPB’s Consent Judgment in National Collegiate Student Loan Trusts Case

Kasowitz, on behalf of investors in and other deal parties to the $15 billion National Collegiate Student Loan Trusts (“NCSLTs”), which securitize student loans, successfully opposed the Consumer Financial Protection Bureau’s (“CFPB”) proposed consent judgment with the NCSLTs. After a lengthy and hard-fought proceeding, Judge Maryellen Noreika of the United States District Court for the District of Delaware issued an order, on May 31, 2020, denying the CFPB’s request for entry of the consent judgment.

Kasowitz represents investors Angelo Gordon, Waterfall Asset Management, One William Street, and Libremax Capital, which hold over $1.8 billion in notes issued by the NCSLTs, in various actions concerning the management and control of the Trusts.

The Kasowitz team representing Angelo Gordon, Waterfall Asset Management, One William Street, and Libremax Capital is led by partners Michael Hanin and Uri A. Itkin and includes Special Counsel Henry Brownstein and associate Henry K. Parr.