- The Trump administration dismissed the Consumer Financial Protection Bureau's lawsuit against National Collegiate Student Loan Trusts.
- The $2.25 million settlement between the government and trusts was expected to go to impacted private student loan borrowers.
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WATCH HEREThe Trump administration has the federal government's lawsuit against National Collegiate Student Loan Trusts, abandoning a that could have gone to harmed .
The Consumer Financial Protection Bureau filed a lawsuit in against the trusts, which it described as a group of 15 "securitization trusts organized under Delaware law that acquire, pool, and securitize student loans, which they then service."
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SIGN UP The CFPB accused the trusts of bringing improper debt collection lawsuits against private student loan borrowers, suing consumers for debts the trusts couldn't prove were owed and attempting to collect on debts after when they were legally allowed to do so.
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The $2.25 million settlement between the government and the trusts was expected to go to impacted borrowers.
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But the CFPB under President Donald Trump the voluntary dismissal last Friday.
The Trump administration has also moved to gut the CFPB, most recently attempting to terminate as many as of the bureau's 1,700 employees. A judge has .
In February, the CFPB also against the Pennsylvania Higher Education Assistance Agency. The bureau sued the student loan servicer , accusing it of illegally collecting on student debts that borrowers had discharged in bankruptcy and sending false information to credit reporting companies.
The CFPB and White House did not respond to a request for comment. Neither did the Pennsylvania Higher Education Assistance Agency or counsel for the National Collegiate Student Loan Trusts.
