The fired chief executive of a New York-based trade group representing asset-backed lenders has sued the group, claiming he was wrongfully dismissed after raising concerns about conflicts of interest and a lack of auditor independence.

The lawsuit against the Commercial Finance Association also names Andrea Petro, the president of the organization, and her employer, Wells Fargo & Co., as defendants, according to the complaint that was filed in in federal court last month. The group represents hundreds of banks and other companies involved in structured-finance lending, in which loans are secured by inventories or accounts receivables.

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