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3rd Circ. Revives Fight Over 'Invalid' Loan Servicer Deal

By Jeannie O'Sullivan (August 19, 2020, 10:02 PM EDT) -- The Third Circuit on Wednesday ruled in favor of student loan debt noteholders who alleged six Delaware-based loan trusts improperly hired an additional loan servicer to collect on defaulted payments, reasoning that the hiring agreement was invalid because it siphoned power from the trustee representing the noteholders' interests....

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