Miami-based education lender U. S. Education Loan Trust (USELT) is pursuing legal action in the United States District Court for the Southern District of New York regarding the Royal Bank of Canada’s actions as underwriter, broker-dealer, remarketing agent and back-up purchaser of auction rate securities (ARS) issued by USELT.

The securities were backed by U.S. government  insured education loans. 

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.