Bradford Hardin

Supervision and Enforcement

CFPB investigation under TILA and Regulation Z
Represented large financial institution in CFPB investigation under Truth in Lending Act and Regulation Z. After document production, interrogatory responses, and testimony, investigation was closed with no action against client.  

Interest rate charges examination and investigation 
Representing large financial institution in connection with FDIC and CFPB examinations, and nascent CFPB enforcement inquiry, concerning certain practices in consumer business. Financial institution has been able to mitigate enforcement risk and enhance its policies, procedures, and compliance management system. (Ongoing)

Major CFPB enforcement matter
Represented global financial institution in the evaluation, remediation, and self-disclosure of a long-term compliance failing, and associated examination and enforcement activities. Although issues resulted in a public enforcement action, CMP was avoided and press release recognized the client's responsible business conduct.

Internal investigation 
In response to regulatory criticism, and as a tool to limit further regulatory risk, conducted an extensive internal investigation for large bank client covering over 10 years of conduct involving dozens of witnesses and tens of thousands of documents. Resulting report assisted client to address root causes of regulators' concern, providing an opportunity to turn the page on past issues. 

DOJ SCRA inquiry 
Represented financial institution responding investigation by U.S. Department of Justice into client's compliance with repossession requirements in SCRA. After proactive self-review, voluntary remediation, policy revisions, and steadfast advocacy, investigation was closed with no public action against client.  

State regulatory inquiry 
Following state regulatory examination of client's affiliated broker-dealer, assisted regulated entity in responding to several adverse examination findings, ultimately resolving the matter with no public action against client, and workable going-forward changes. 

California Department of Financial Protection and Innovation enforcement 
Represented two financial institution executives in connection with enforcement actions, and various related examination activities, brought by newly created California DFPI. In what were some of the new Department's very first official actions, DWT was able to substantially reduce the penalties sought against our clients, eliminate some claims, and obtain favorable statements of their lack of culpability and cooperation with the Department's investigation.   

HUD inquiries 
Represented large financial institution responding to series of inquiries from U.S. Department of Housing and Urban Development alleging various forms of discriminatory mortgage underwriting. Each matter has been closed with either no action against client, or a nominal settlement.  

Mortgage servicing remediation 
Working with a top consulting firm, represented large bank in evaluation, remediation, and restitution of systemic mortgage servicing breakdowns. Supported full-scope of project, ranging from conceptualization, to legal analysis, problem solving, and regulatory advocacy. 

Contentious CFPB examinations 
Currently representing at least three major financial institutions in examinations that have either resulted from past enforcement actions in which we were involved, or that have raised issues that suggest material likelihood of an enforcement investigation, with subject matters ranging from fee practices, to mortgage servicing, to card and deposit account handling. 

Payment network dispute 
Represented large international e-gaming company in dispute with payment network over Merchant Category Code compliance.   

Remediation and supervisory advocacy for issuers and financial institutions 
Assisting with broad range of examination, compliance, and risk management issues. Routinely advise and prepare for regulatory examinations and related inquiries, and help manage complex relationship issues involved in regulatory relations. Familiarity with regulators helps to identify problem areas that might be subject to scrutiny, and fix problems in a way that will satisfy regulators. (Ongoing)

False Claims Act investigations
Representing banks in connection with False Claims Act investigations and self-disclosures regarding clients' participation in the FHA loan program coming out of the foreclosure crisis.*

HUD/FHA enforcement actions
Representing banks and credit unions in connection with HUD/FHA administrative enforcement actions before the HUD Mortgagee Review Board, arising from a variety of FHA program compliance issues including loss mitigation performance within an FHA servicing portfolio.

Enforcement and supervision*
Represented national bank in connection with multiple regulatory inquiries into potentially unauthorized accounts and other sales practices. (2018)

HUD investigations*
Simultaneously represented two FHA mortgagees in HUD investigations into compliance with program requirements. (2018)

Fair lending examination*
Represented a credit card bank in a supervisory examination into underwriting practices under the fair lending laws, resulting in a confidential supervisory resolution. (2017)

CID litigation*
Represented a non-bank financial services firm in successfully litigating against the CFPB in connection with a CID issued to the company. (2017)

CFPB enforcement investigation*
Represented a midsized financial institution in a CFPB investigation of debt collection practices. (2016)

Data security investigation*
Represented a fintech company in a first-of-its-kind data security investigation. (2016)

Payment systems enforcement*
Represented a payment network in connection with UDAAP enforcement against unrelated debt collection companies. (2015)

CFPB enforcement investigation*
Represented a leading diversified financial services company in a CFPB investigation of student loan servicing practices. (2015)

OCC enforcement investigation*
Represented two large national banks in connection with OCC enforcement under the Servicemembers Civil Relief Act. (2015)

*Denotes experience prior to joining Davis Wright Tremaine

Consumer Compliance

Fintech regulatory advice 
Serving as primary outside product and regulatory counsel for major consumer-facing fintech firm, providing support across range of checking, savings, and card products, spanning full suite of consumer protection laws and regulations. 

Rate review for Regulation Z
Representing multiple large card issuers on compliance with Regulation Z requirements to review rate increases every six months, including preparation of CFPB self-disclosure, and ongoing advocacy with CFPB examination personnel.   

CARD Act compliance review 
Represented global financial institution in a multi-year review of compliance with CARD Act and associated implementing regulations. Includes representation of numerous other issuers, banks, and fintech firms in compliance review projects of this type, and addressing a range of substantive areas.

Card regulatory advice 
Represented large card issuer in numerous issues arising from card underwriting and servicing operations, including product design, responding to exam findings, crafting consumer remediation where necessary, and responding to regulatory inquiries.  

Fintech regulatory advice 
Serving as primary outside product and regulatory counsel for major B2B fintech firm, providing support across range of card products, spanning full suite of applicable laws and regulations. 

Product design 
Represented large financial institution in development of novel point-of-sale financing product used to expand institution's consumer business while providing financing options for travel and other large-ticket expenditures. 

LIBOR transition 
Representing large financial institution in connection with transition from LIBOR index for certain closed-end consumer loan agreements.  

Military Lending Act and SCRA Advice 
Advising major card issuer on numerous issues on application of Servicemembers Civil Relief Act and Military Lending Act relating to issuer's servicing and origination activities, including novel product features and remediation scenarios. 

Payments regulatory advice 
Represented large fintech payments company with a range of regulatory issues arising from regulated operations. Currently representing several large payment fintech firms in range of similar matters, addressing all manner of business and regulatory concerns, spanning state law compliance, enforcement defense, corporate governance, and product design.  

State law surveys 
Led teams of DWT lawyers and surge attorneys performing surveys of state law governing activities of banks and other financial institutions, including state money transmitter, lending, loan broker, repossession, debt collection, garnishment, complaint handling, referral fees, enforcement trends, and other subjects. 

RESPA advice 
Represented multiple leading financial institutions with respect to RESPA Section 8 compliance in regard to marketing services agreements.

SAFE Act Advice 
Advised large financial institution on compliance with the SAFE Act. 

Account terms and conditions 
Assisted numerous financial institutions to develop, or review and revise, account agreements. 

Debt collection advice*
Counseled a large financial institution on compliance with FDCPA and the FTC's DeMayo letter in connection with a novel fintech debt collection offering. (2018)

FCRA advice*
Advised a national communications company on regulatory issues arising from a proposed business arrangement. (2018)

FCRA advice*
Advised a global technology company on regulatory compliance issues that arose in its acquisition of a student loan technology company. (2017)

SCRA supervisory response*
Assisted a large national bank in responding to OCC examination findings alleging unsafe and unsound banking practices and violations of law. (2017)

Regulatory diligence*
Advised a private equity firm in performing regulatory diligence on a potential investment in a fintech company. (2016)

Fair lending compliance*
Systematically reviewed the fair lending compliance program of a large national bank, focused on the areas of non-English marketing and geographic variations. (2016)

Student lending examination support*
Advised a large diversified financial services company in responding to allegations by CFPB examination staff relating to prior consumer remediation effort. (2016)

Compliance risk management system review*
Conducted a review of a large captive auto finance company's compliance risk management system and advised the company's Chief Compliance Officer and other stakeholders on CFPB examination preparedness and strategies for improving compliance risk management, including in the area of vendor management. (2014)

FCRA policies and procedures review*
Reviewed credit data furnishing-related policies and procedures for a non-traditional consumer lending company. (2015)

*Denotes experience prior to joining Davis Wright Tremaine

Bank Regulatory

State regulator and FDIC advice 
Advise large regional state-chartered bank on full scope of prudential regulatory affairs, including institution's relationship with its state regulator and FDIC, and in substantive areas spanning core bank regulatory discipline. 

Third party risk management 
Advised large financial institution in connection with numerous, novel third party risk management issues arising from institution's data-related partnerships. 

Non-branch locations
Assisted innovative large financial institution developing non-branch storefronts to project banking services, and community development services, into underserved areas. 

Brokered deposits 
Advised large national bank on compliance with FDIC's new brokered deposits rules, relating to certain marketing partnerships and arrangements involving bank and its brokerage affiliates. 

Charter conversion 
Represented large regional bank on systematic evaluation of whether to convert charter from state-chartered, nonmember bank, to any one of several options considered. 

Corporate Governance 
Advised numerous financial institutions on various corporate governance matters, including board structure and operation, committee charters and responsibilities, executive misconduct, and other issues. 

Merchant banking investment*
Advised a prominent financial institution on compliance with merchant banking restrictions for a fintech investment. (2018)

4(c)(6) investment*
Advised a large financial institution on a non-controlling fintech investment. (2018)

Fiduciary powers application*
Represented a foreign banking organization in applying for fiduciary powers for one of the FBO's domestic branches. (2018)

Trust company reorganization*
Advised a prominent domestic trust company and asset management firm in obtaining OCC approval for office relocations and an affiliate merger transaction, including resolution of capital requirements, affiliate transaction concerns, and other issues. (2018)

Interstate banking*
Advised a state-chartered bank in connection with online and interstate business expansion plans. (2017)

Brokered deposits*
Advised a state-chartered bank on compliance with FDIC brokered deposits guidance relating to prepaid cards, online deposit solicitation, and other issues. (2016)

*Denotes experience prior to joining Davis Wright Tremaine