CFPB, Investment Trusts Ask Judge to Toss $2.25 Million Deal (1)

The Consumer Financial Protection Bureau dismissed its case against a group of student loan investment vehicles for alleged debt collection violations before a federal judge could approve a $2.25 million settlement reached in the final days of the Biden administration.

The CFPB and counsel for the National Collegiate Master Student Loan Trust on Friday filed a joint notice of voluntary dismissal in the US District Court for the District of Delaware, bringing the case to a close before Judge Stephanos Bibas could rule on objections to the January settlement or approve it.

The two sides agreed to dismiss the case ...