As regulation of the consumer financial services industry expands and evolves, lenders, servicers and other businesses in the industry can expect to be closely scrutinized by federal and state regulators, the courts and the plaintiffs’ bar. The risk of disputes and enforcement actions has never been greater.
To effectively navigate this new landscape you need counsel that regularly tracks and informs clients about the latest industry developments and is further able to work through complex compliance issues as they arise. Our national consumer financial services industry team is comprised of business, regulatory, and litigation attorneys handling regulatory compliance, financial services and commercial litigation, bankruptcy, and white collar criminal defense and government investigations.
How We Can Help
Regulatory Compliance and the CFPB
Our regulatory compliance group regularly assists clients in the development of internal policies and procedures needed to minimize non-compliance risk exposure involving:
- Loan originator compensation
- Ability-to-Repay (“ATR”) / Qualified Mortgage (“QM”) compliance
- Secure and Fair Enforcement for Mortgage Licensing (“SAFE”) Act concerns
- Consumer privacy protection
- Telephone Consumer Protection Act (“TCPA”) compliance and disclosures
- Fair lending and fair servicing issues
- RESPA Section 8 issues
Our regulatory compliance team also has significant experience defending and resolving enforcement actions filed by state and federal regulators, assisting clients with licensing and registration issues, pursuing no-action requests on behalf of clients, assisting clients in preparing comments to proposed rules and responding to consumer complaints, rescission demands, Requests for Information, Notices of Error, and other inquiries from consumers.
This group also counsels clients in regard to inquiries and investigations by government agencies, and conducts internal investigations to strategically assist in the process.
Consumer Finance Litigation
Our litigators successfully defend national and regional consumer lending and servicing clients in class action lawsuits across numerous state and federal courts, including bankruptcy proceedings.
- Title claims
- Correcting legal description errors
- Resolving chain of title and other vesting issues
- Defending against repurchase demands by government sponsored enterprises (“GSEs”) and private investors
- Negotiating and obtaining releases and subordination of prior mortgages, judgments, tax liens, and home owners association and condo owners association liens
We solve problems that arise in the relationships among lenders, servicers, brokers, investors and GSEs. Our work includes merger and acquisition and portfolio sale transactions in the mortgage and other consumer finance industries as well as experience 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.
What Sets Us Apart
We strive to create true business partnerships with our clients to enable us to better assist them in identifying, considering and pursuing all options that best suit each individual client’s needs and business goals. We work closely with our clients to deliver legal services in the most effective and cost-efficient manner, and to structure our relationship and representation in ways that closely coordinate with each individual client’s business model. Our team consists of experienced attorneys and other professionals dedicated to helping our clients anticipate and avoid problematic issues, and to effectively address these issues when they do arise.