ABS

Corporate vehicle leasing giant Element Fleet Management is launching a $650 million securitization of open-end truck and auto leases serviced by its Gelco subsidiary.

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.

A leading non-life insurance premium financing (IPF) provider in the UK is preparing an asset-backed transaction backed by a pool of £1 billion in payment-plan receivables.

The Consumer Financial Protection Bureau plans to launch an inquiry into small-business lending, the first step toward crafting a rule for the collection and reporting of small-business lending data.

Commercial truck lessor Automotive Rentals Inc. is sharply reducing exposure to oil & gas exploration clients in its new $575.2 million fleet securitization of specialty vehicle leases.

Palomar Specialty Insurance Co. said Wednesday closed on its first catastrophe bond. The $166 million Torrey Pines Re will provide Palomar with protection against multiple perils over a three-year period.

Textainter is selling $300M in notes backed by global leases for marine cargo containers, marking the third esoteric container ABS of 2017.

Alitalia’s financial woes have yet to impact the 10 or so bond offerings backed in part by aircraft the carrier has leased, but Kroll Bond Rating Agency is closely monitoring the situation.

President Trump and Consumer Financial Protection Bureau Director Richard Cordray appear locked in a game of chicken over his continued leadership of the agency

Napier Park to issue 1st CLO of year; Moody's expects CLO refi activity to remain strong; S&P puts gobal corporate default tally for 2017 at 30, including 23 in the U.S.

Renovate America launches $268 million of bonds backed by Property Clean Energy Assessements; Calibur Home Loans returns with non-prime RMBS, and three more collateralized loan obligations refinance.

Dell and Ascentium launched a pair of equipment lease securitizations; NextGear readies notes backed by auto dealer inventory financing; Consumer Portfolio Services closes on auto ABS.

Two PACE program administrators, Ygrene Energy and Renew Financial, picked the same day to launch their first securitizations of the year.

Massachusetts Mutual Life Insurance is marketing an unusually large offering of bonds backed by equipment loans and leases.

Air Lease Corp. is making its first trip of the year to the securitization market with $344.7 million of notes backed by leases on older aircraft.

Fintech companies can help consumers and small businesses obtain credit at lower costs, but it is critical to ensure that these innovative companies do not harm borrowers with predatory or discriminatory lending practices.

A new Republican plan to streamline Dodd-Frank's capital rules, stress tests and many other requirements will be reintroduced in the coming weeks by House Financial Services Committee Chairman Jeb Hensarling.

Hertz Fleet Lease Funding has filed plans to issue a $300 million securitization backed by corporate auto and light-truck open-end leases.

Elevate Credit in Fort Worth, Texas, debuted Thursday at half the price the company had been targeting. Investors may have been spooked by the possibility of rising losses.