The Court of Del. sends CFPB student loan trust lawsuit to 3rd Circ.

By Jon Hill (February 11, 2022, 8:17 PM EST) – A Consumer Financial Protection Bureau debt collection practices lawsuit against a group of Delaware student loan trusts is heading to the Third Circuit after A federal judge ruled Friday to certify key issues about the continued viability of the case for immediate appeal.

The 2017 lawsuit, which targets the National Collegiate Student Loan Trusts, a collection of 15 pre-2008 trusts created to securitize approximately $12 billion in private student loans, had previously been cleared to proceed in Delaware District Court by U.S. Circuit Judge Stephanos Bibas, who sits by designation.

That decision came in December, with Judge Bibas concluding that trusts…

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