Consumer ABS

Santander Consumer USA Holdings again delayed its second-quarter results and financial statement due to ongoing discussions with federal regulators about accounting issues.

The Consumer Financial Protection Bureau said Monday that Wells Fargo had engaged in illegal student loan servicing practices by processing payments to maximize late fees.

ECMC Group is marketing $373.7 million of notes backed by federally guaranteed student loans that were once delinquent but are now making timely payments.

The Consumer Financial Protection Bureau on Thursday urged student loan servicers to provide more help to consumers who apply for income-driven repayment plans.

U.S. Bank Global Corporate Trust Services has hired Joe Nardi to lead its global structured finance group, which provides services that support the mortgage-backed and asset-backed securities for which U.S. Bank is trustee and paying agent.

Capital One is returning to the securitization market with $750 million of notes backed by credit card receivables.

Prosper Marketplace in San Francisco reported a $35 million loss in the second quarter, adding to the struggles of the entire marketplace lending sector

Avant, the online lending platform based in Chicago, appears to be back in the good graces of capital markets investors.

Standard & Poor’s on Thursday assigned an expected ‘AAA’ rating on the Class A (2016-5) series of C seven-year notes, the only tranche in the issuance. The notes will carry an interest rate of 1.27% and supported by 14% credit enhancement – a level in line with Chase’s recent receivables-backed issues in 2016.

American Honda Finance Corp. has filed for its third super prime loan securitization of the year, in a $1.25 billion transaction that could be upsized to $1.5 billion. The deal comes as the company has experienced growing levels of delinquencies and repossessions that have not shaken ratings agencies' faith in Honda's performance as a long-term asset-backed issuer.