Investors are showing a greater interest in ABS this month, following a rocky April. The recent softer tone taken by President Trump on tariffs seems like the reason.
While the bureau seems to be stepping away from an enforcement focus within the ABS market, industry attorneys note that a Third Circuit decision is still binding.
The ABS backed by advances to international students studying in the U.S. could come under pressure due to any changes in immigration and employment policies.
Hefty increases in vehicle loans and business finance boosted ABS issuance to $94 billion in the first quarter, an 82% gain from the prior period. GM Financial was the top ABS issuer, while Bank of America ranked first in underwriting. (Includes three data tables.)