Today’s General Counsel has published an article citing Cadwalader partners Mercedes Tunstall and Andrew Karp where they discuss how the Third Circuit handed down a decision in a case involving the Consumer Financial Protection Bureau and the National Collegiate Master Student Loan Trust that finds that statutory trusts used to handle securitizations are considered “covered persons” for purposes of the Consumer Financial Protection Act and thus, are subject to CFPB jurisdiction.

Read the article here.