Consumer ABS

S&P and DBRS have diverged on rating the senior notes in a $175.26 million securitization of private student-loan refinancings from Earnest Operations. Also, Comenity Bank has a new private-label card transaction through its World Financial master trust.

Barclays’ U.S. credit card master trust is issuing $632.9 million in new notes backed by a revolving pool of primarily co-branded card receivables.

Ally Bank is marketing another $1 billion auto loan securitization, its third of the year.

Palmer Square refinances 2013 CLO, cutting spread on AAA-rated tranche to below 100 basis points; Dryden refinances 2014 European CLO: Five Guys cooking up $440M Whole Business securitization.

Borrowers have had an uphill battle maintain a class action against student loan servicers; this could change as a result of the Trump administration’s efforts to dismantle the CFPB.

Social Finance’s new $530 million consumer loan securitization, it’s third of the year, is the first to earn a double-A, from both Kroll Bond Rating Agency and S&P Global Ratings.

BMW Bank Gmbh will sell Euro bonds through the Bavarian Sky S.A., Compartment German Auto Loans 6 trust, which includes a €744 million, seven-year Class A note tranche that S&P is rating AAA.

Oklahoma Gov. Mary Fallin vetoed legislation Friday that would have expanded high-cost consumer lending in the Sooner State.

Lending Club, the online consumer lender whose fortunes were hurt by scandal last year, lost $29.8 million in the first quarter amid lower revenues and rising expenses.

Prosper Marketplace, one of the largest U.S. online-lending platforms, notified the majority of the investors that buy its loans that it had overstated their annual returns due to a system error, a spokeswoman said.