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EFF 2025-2 will allocate revenue collections to the notes on a pro rata basis between the class A notes and the seller's interest after overcollateralization reaches its target.

It marked another day of gains in the $29 trillion Treasury market, which has swung throughout April on President Donald Trump's evolving trade policies and uncertainty about the Fed's path.

While the 30-year rate landed near its level of a week ago, it ended up there only after political developments led to up-and-down swings in Treasurys.

The longer tariffs last, however, the more negative the outlook becomes for securitizations across the board, as the economy slows and credit risk increases.

Small-business owners will be given the option to tap into anywhere from $50,000 to $500,000 in financing.

Scrutiny will be particularly strong on the results of the $70 billion five-year auction on Wednesday because over 60% of foreigners' holdings are concentrated at that maturity or less.

The capital structure includes amortization triggers based on cumulative net loss levels and material modified loan ratios.

Sen. Dick Durbin, the Senate's No. 2 Democrat, announced he will not seek reelection in 2026, concluding more than four decades in Congress. The Illinois lawmaker leaves behind a notable imprint on U.S. financial policy, particularly regarding swipe fees.

The sponsor launches the deal after a period of increased originations in marine and recreational vehicle loans, will secure the notes.

Federal Reserve Gov. Adriana Kugler said tighter monetary policy has proved to be less impactful on nonbank lenders during the post-pandemic era.