Blank Rome’s consumer financial services industry team is comprised of a multidisciplinary 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.

Members of the consumer financial services team are admitted to practice in the following jurisdictions: California, Connecticut, Delaware, Florida, Indiana, Kentucky, Maryland, Massachusetts, New Jersey, New York, Ohio, Pennsylvania, Texas, Virginia, West Virginia, and Washington, D.C.

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 the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). The new regulations promulgated by the Consumer Financial Protection Bureau (“CFPB”) have created a host of new compliance issues, and we have advised clients in all stages of preparing to meet those issues. We have counseled clients through the CFPB rulemaking process during the recent revisions to the Truth in Lending Act (“TILA”) and the Real Estate Settlement Procedures Act (“RESPA”), including evaluating the proposed rules, drafting comments, and analyzing the final rule, and are prepared to provide ongoing guidance to clients as the rules continue to evolve. Our lawyers have extensive experience advising clients on developing internal policies and procedures to minimize regulatory noncompliance risk exposure and future litigation risks.

Statutory Compliance Programs

To further assist our clients, we have 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 recession demands under the Truth In Lending Act (“TILA”) and Qualified Written Requests under the Real Estate Settlement Procedures Act (“RESPA”).

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 litigations containing 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”)
• Home Ownership and Equity Protection Amendments (“HOEPA”)
• Equal Credit Opportunity Act (“ECOA”)
• Fair Credit Reporting Act (“FCRA”)
• Fair and Accurate Credit Transactions Act (“FACTA”)
• Credit Repair Organizations Act (“CROA”)
• Predatory Lending Practices
• Consumer Fraud
• Federal Loan Modification Programs
• State Consumer Protection Laws
• National Mortgage Settlement
• Telephone Consumer Protection Act (“TCPA”)

Regulatory Complaints and Government Investigations

Our lawyers regularly assist clients in responding to complaints filed by and with federal and state regulatory agencies throughout the United States. Additionally, we counsel clients in regard to inquiries and investigations by government agencies, and we conduct internal investigations to strategically assist in the process.

Transactional Experience

We solve our client’s problems that arise in the relationships among mortgage and installment credit lenders, brokers, and investors. We have assisted clients in numerous merger and acquisition and portfolio sale transactions in the mortgage and other consumer finance industries. From both legal and business viewpoints, we have experience in evaluating, structuring, and documenting consumer credit products and services, including first and second mortgage loans, home equity credit, credit card and revolving loans, consumer leases, personal installment loans, student loans, retail lending, motor vehicle loans and leases, and other retail installment sale programs.

Additional Industry Services

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

Visit us at www.blankrome.com/CFL.