Consumer Financial Services

Compliance & Defense


Blank Rome’s consumer financial services industry team is comprised of a multi-disciplinary group of business, regulatory and litigation lawyers spanning the Firm’s geographic footprint. Their collective related experience is in the areas of regulatory compliance, financial services and commercial litigation, bankruptcy, and white collar criminal defense/government investigations.

Regulatory Compliance and CFPB Issues

Our lawyers have been instrumental in helping national mortgage lenders and servicers successfully navigate the rapidly changing regulatory dynamic in the wake of Dodd- Frank. The new regulations promulgated by the CFPB have created a host of new compliance issues, requiring guidance by experienced counsel. Our attorneys have counseled clients through the CFPB rulemaking process, including evaluating proposed rules, drafting comments, and interpreting the final rules to help clients understand the impact of these rules on their businesses. We regularly assist clients in the development of internal policies and procedures needed to minimize regulatory noncompliance risk exposure in matters involving loan originator compensation, ATR/QM compliance, SAFE Act concerns, consumer privacy protection, TCPA compliance and disclosures, and various fair lending and fair servicing issues.

To further assist our clients, we have also developed novel programs to assist mortgage lenders and servicers in responding to pre-litigation issues raised by borrowers and regulatory agencies. In particular, these programs address highly risk-sensitive response issues relating to complaints filed by and with federal and state regulatory agencies throughout the United States, rescission demands under TILA, Requests for Information and Notices of Error under RESPA and Requests for Verification of Debt under FDCPA.

Additionally, we counsel clients in regard to inquiries and investigations by government agencies, and we conduct internal investigations to strategically assist in the process.

Litigation

Our litigators have successfully defended national and regional consumer lending and servicing clients in individual and class action lawsuits in numerous state and federal courts, including bankruptcy proceedings. We have a track record of successfully representing lenders and servicers in litigation claims related to:

  • Consumer Financial Protection Bureau (“CFPB”)
  • Dodd-Frank Wall Street Reform and Consumer Protection Act
  • Truth in Lending Act (“TILA”)
  • Real Estate Settlement Procedures Act (“RESPA”)
  • Fair Debt Collection Practices Act (“FDCPA”)
  • Unfair and Deceptive Acts and Practices (“UDAP”)
  • Telephone Consumer Protection Act (“TCPA”)
  • Home Ownership and Equity Protection Amendments (“HOEPA”)
  • Equal Credit Opportunity Act (“ECOA”)
  • Fair Credit Reporting Act (“FCRA”)
  • Fair and Accurate Credit Transactions Act (“FACTA”)
  • Federal Consumer Credit Protection Act (“FCCPA”)
  • Credit Repair Organizations Act (“CROA”)
  • Predatory Lending Practices
  • Consumer Fraud
  • Federal Loan Modification Programs
  • State Consumer Protection Laws
  • National Mortgage Settlement
  • Tax Liens/Surplus and Condominium Actions
  • California Homeowner Bill of Rights (“HBOR”)

Title Curative

Our firm also offers a wide array of title curative services nationwide, with a team of attorneys who are accustomed to working through complex title issues to deliver clear and marketable title in an expeditious and cost-effective manner. Our attorneys have significant experience pursuing title claims, correcting legal description errors, resolving chain of title and other vesting issues, defending against repurchase demands by GSEs and private investors, and negotiating and obtaining releases and subordination of prior mortgages, judgments, tax liens and HOA and COA liens. Although we endeavor to resolve these matters without resorting to litigation, our attorneys routinely handle title matters requiring a judicial solution, such as quiet title and reformation actions.

Transactional Experience

We solve clients’ problems that arise in the relationships among lenders, servicers, brokers, investors and GSEs. We have assisted clients in numerous merger and acquisition and portfolio sale transactions in the mortgage and other consumer finance industries. We have experience in evaluating, structuring, and documenting consumer credit products and services, including mortgage loans, consumer leases, motor vehicle loans and leases, and other retail installment sale programs.

Additional Industry Services

We also provide advice on compliance examinations; federal and state interest rate and usury law; FHA, FHLMC, FNMA, and GNMA, programs; holding company and multistate banking and lending problems; state licensing; and related consumer financial services issues, regulations and statutes. Additionally, we provide counsel on the Gramm-Leach-Bliley Act and other federal and state privacy laws, regulations, and directives.



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