Nancy Thomas

Of Counsel

T 213.655.9689 Los Angeles
My clients define success; I figure out the roadmap to get there.
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Nancy brings strategic and innovative approaches to defense of class actions, regulatory enforcement actions, and high-stakes litigation and arbitration. She has long been recognized as a top financial services and class action litigator who regularly defeats claims efficiently, either at the pleading stage or at class certification.

A formidable advocate for her clients, Nancy has deep knowledge of federal and state laws and regulations impacting banks and nonbank financial services providers, including UDAAP and privacy laws. An active member the California Bankers Association Legal Affairs Committee, Nancy learns of California statutes during the legislative process and assists her clients in anticipating the impact of those laws on their businesses.

Nancy translates this expertise into winning defenses in class action litigation, arbitrations, and enforcement actions brought by state and federal regulators, including the CFPB, the DOJ, and the California DFPI.

Nancy also has extensive experience defending cutting-edge privacy and commercial class action claims, including UDAAP and claims allowing for statutory damages. In addition, she has handled several mass arbitration matters.

An award-winning writer, editor, and thought leader, Nancy stays current with the ever-changing legal landscape in financial and commercial matters. She was awarded the 2023 Robert Frandzel Award for superior and impactful contributions by an outside counsel to the California banking industry. She also is recognized as a top financial litigator by Legal 500, and both a top litigator in California and among the top 250 women in litigation by Benchmark Litigation.

Nancy exemplifies DWT's commitment to community impact by maintaining an active pro bono practice and serving on the Board of Directors of Teach Democracy, a nonpartisan nonprofit that promotes civic education for students nationwide.

Practice Highlights

Class action litigator

Nancy has represented scores of companies in class-action lawsuits. She has extensive experience working in complex regulatory spaces, including financial services, privacy, wage and hour, and insurance. She develops novel arguments to defeat creative theories seeking to apply existing statutes to technology that did not exist when those statutes were passed, such as applying CIPA and ECPA to text messages. Nancy works seamlessly with her regulatory colleagues to develop winning defenses.

Regulatory enforcement action defense

Since the CFPB was created, Nancy's clients have relied on her to navigate regulatory investigations and threatened and actual enforcement actions. She has shut down or obtained favorable settlements in numerous matters in which state and federal regulators asserted new interpretations of federal and state financial services laws and regulations and "we know it when we see it" UDAAP theories. Nancy is on the front lines in defending clients in enforcement actions based on DFPI's ever-changing hot button issues, including true lender and commercial financing disclosure matters.

Arbitration and mass arbitration defense

Nancy routinely represents clients in arbitrations, including individual consumer actions and corporate disputes.  In addition, she works with clients to assess the threat of mass arbitration to their business and reviews and revises arbitration agreements to mitigate risk.  Nancy has defended several clients in mass arbitration demands and filed actions, including creating efficient ways to test claimants' theories using bellwether arbitrations and negotiating and implementing settlements with enforceable releases.