Consumer & Banking Enforcement

Supervision

• Representation of many financial institutions in connection with responding to Proposed Action and Request for Response (PARR)
• Represented major card-issuer in identifying, self-reporting to CFPB, and remediating TILA non-compliance, resulting in consent order that avoided civil money penalties
• Representation of a bank in connection with possible TILA violations related to its internet portal for billing error resolution
• Representation of a bank in connection with an FDIC examination that alleged RESPA violations
• Representation of a mortgage lender to determine readiness for the new Home Mortgage Disclosure Act (HMDA) rules*
• Advising on an FHA investigation of a mortgage company*
• Providing exam support concerning a student loan servicer, mortgage originator, mortgage servicer, and small-dollar lender*
• Providing guidance on compliance with Equal Credit Opportunity (ECOA) and Truth in Lending Act (TILA) requirements during regulatory examinations*

Enforcement

• Representation of many financial institutions in connection with responding to Notice and Opportunity to Respond and Advise (NORA) letters
• Representation of large financial services companies in investigations and enforcement actions conducted by the CFPB
• Representation of a financial institution in CFPB supervisory and enforcement process leading to a stipulated consent order
• Representation of a top-five payment processor in connection with its response to a civil investigative demands from state attorneys general
• Representation of a consumer payments FinTech company in responding to a civil investigative demand from the CFPB
• Representation of a national bank in a CFPB mortgage origination examination and responding to PARR letter alleging violations of ECOA, HMDA, RESPA, TILA, and UDAAP; the matter was resolved confidentially
• Representation of a federal savings bank in a CFPB enforcement action relating to HMDA; achieved favorable resolution for the bank
• Representation of a regional bank in connection with a DOJ investigation
• Representation of a major loan servicer in monitoring compliance by its foreclosure and bankruptcy counsel with the recent settlement with the OCC, FDIC, and Federal Reserve Board
• Representation of a money transmitter in state investigation of alleged unlicensed money transmission
• Representation of a major bank to address alleged discriminatory card terms against consumers in Puerto Rico, the U.S. Virgin Islands, and other U.S. territories*
• Representation of a major bank in connection with alleged illegal credit card practices including unfair billing tactics and deceptive marketing with respect to credit card “add-on products”*
• Representation of a bank to address deficiencies in anti-money laundering compliance that were connected to a former check-cashing business*
• Representation of a bank in an enforcement action related to the bank’s AML/BSA practices*
• Investigation and resolution by multi-state group of attorneys general of massive data security breach*
• Investigation of merchant acquiring bank’s Know Your Customer policies and practices*
• Investigation and resolution by consent order concerning lead generator’s alleged substantial assistance of unfair and deceptive acts and practices*
• Investigation of debt collectors’ alleged violations of FDCPA and UDAAP*
• Investigation of private student lenders’ servicing conduct*

Litigation

Credit Cards and Other Payment Instruments

• Representation of payment processors and related entities in responding to subpoenas and complaints from various state financial regulators regarding potential money transmission licensing requirements
• Representation of a provider of gift cards in a consumer arbitration alleging failure to activate cards upon purchase, resulting in complete defense award
• Representation of a private-label credit card issuer in connection with the bankruptcy of multiple retailers
• Representation of a national retailer in putative class action alleging violation of a state’s gift card act by failure to redeem gift cards with balance less than $5 on demand
• Representation of payment processor in investigation by state attorney general’s office
• Representation of a financial institution in connection with an investigation and subsequent litigation in which regulators, including the CFPB and FDIC, alleged credit card issuer engaged in deceptive marketing and sales practices related to its “add-on” products*
• Investigation and litigation concerning payment processors’ alleged unfair conduct and substantial assistance of collection agency’s alleged illegal conduct * 

Mortgage

• Representation of a national bank in numerous lawsuits relating to foreclosures and lender liability claims, including defense of class action lawsuit relating to recording fees
• Representation as lead counsel for Freddie Mac in consumer class action against all major lenders and loan services alleging improper foreclosures based on the theory that loan-servicer advances in securitized mortgage backed securities cured any default by the borrower; responsible for drafting and filing the lead joint brief for multiple lenders
• Representation of a financial services company in a state’s Supreme Court against allegations of violations of the state’s mortgage statute and the state’s consumer protection act in connection with issues related to foreclosure procedures and foreclosure sales
• Representation of a financial institution in obtaining dismissal of TILA, RESPA, quiet title, and wrongful foreclosure claims
• Representation of a bank in a lawsuit involving fraud and consumer protection act claims arising out of residential loan transactions
• Representation of a bank in obtaining dismissal of TILA and RESPA claims stemming from loan origination based on FDIC Purchase and Assumption Agreement and federal holder-in-due course status; and dismissal of 14 separate post-foreclosure claims allegedly stemming from the state’s mortgage statute
• Representation of a bank in a successful defense against claims that its deed of trust on property was unenforceable under state law
• Litigation of alleged violations of RESPA, Regulation X*
• Litigation of subprime lender’s alleged unfair and deceptive mortgage loan origination and sales practices*

Fair Credit Reporting Act (FCRA)

• Representation of multiple clients in connection with litigation exposure and compliance issues regarding the Fair Credit Reporting Act and the Fair and Accurate Credit Transactions Act (such as the “truncation” requirement)
• Representation of an international coffee chain in a Fair Credit Reporting Act putative class action regarding a pre-adverse action notice
• Representation of a financial institution in a putative class action asserting Fair Credit Reporting Act claims regarding background check disclosure forms

Telephone Consumer Protection Act (TCPA) and Similar State Laws

• Representation of a financial institution in a putative nationwide class action, alleging the company placed calls in violation of the TCPA, and putative statewide class action alleging violation of the state’s telephone consumer protection laws and consumer protection act
• Representation of a business lender in a putative nationwide class action alleging company placed calls in violation of the TCPA
• Representation of a financial services company in putative statewide class action alleging violation of the state’s telephone consumer protection laws and consumer protection act

Bank Secrecy Act/Anti-Money Laundering (BSA/AML)

• Representation of a commercial bank in connection with the DOJ’s “Operation Chokepoint” investigation regarding alleged BSA/AML violations; we obtained a favorable settlement with the DOJ as the result of our creative strategy to obtain a court order transferring control of a customer reserve account to the bank
• Representation of a financial services company in defense of claims alleging violations of TILA and RICO as well as claims for mail fraud, wire fraud, money laundering, criminal profiteering, promissory estoppel, and emotional distress, stemming from the refusal to modify plaintiff’s loan
• Investigation and litigation of payment processors’ Know Your Customer policies and practices for compliance with Dodd-Frank Act

Fair Debt Collection Practices Act (FDCPA)

• Representation of creditors, law firms, and collection agencies in defending against claims under the FDCPA and state collection agency acts, including securing dismissal of dozens of claims on motion practice
• Investigation and litigation of student lender’s alleged unfair and deceptive practices and violations of the FDCPA*
• Investigation and litigation concerning collection agencies’ alleged violations of FDCPA and unfair and deceptive acts and practices*
• Investigation and litigation concerning collection agency’s alleged failure to comply with state licensing requirements * 

* Denotes experience completed at a prior firm