As a natural outgrowth of the firm’s Mortgage Banking practice, the Consumer Finance group draws upon the same level of sophistication and exceptional depth of experience to effectively represent financial institutions, including banks and thrifts, credit card and other payment systems companies, gift card issuers, student loan companies, credit unions, collection agencies, insurance companies, auction companies, payday lenders and manufactured housing lenders in all facets of their operations. The firm understands not only the legal environment in which our clients operate, but also our clients’ business concerns.
With decades of experience in consumer finance, our attorneys provide counsel to clients on state and federal regulatory compliance, licensing and approvals, operational issues, corporate and transactional matters, and litigation, audits and investigations.
On the compliance front, the firm routinely handles projects on multi-state licensing, fee restrictions and disclosure requirements. In addition, the firm is known for guiding clients through the complexities of federal law applicable to consumer finance companies, including TILA, ECOA, FCRA, FDCPA and GLBA.
Understanding our clients’ business concerns enables the firm to proactively address the impact of legal issues on operational issues and assist clients with the implementation of our advice. The firm’s attorneys are skilled at assisting clients with developing compliant policies and procedures that advance business goals without undermining risk tolerances and strategies.
Our corporate and transactional attorneys regularly structure, negotiate and implement a wide range of sophisticated business transactions, including mergers and acquisitions, the purchase and sale of assets, the formation of joint ventures and strategic alliances, and the creation of warehousing and other credit facilities.
Our firm also draws upon its litigators to add another invaluable layer of protection for our clients. Our litigators deal with consumer finance laws on a daily basis and assist our clients in matters ranging from defense of class actions to individual litigation and business disputes. The firm also draws upon the litigation group’s expertise in matters involving investigations and government audits.
Some recent matters include:
- Multi-state survey of licensing, usury and other requirements related to making student loans;
- Multi-state survey of licensing, usury and prepayment penalty requirements and restrictions related to loans secured by lottery winnings;
- Assisted a national real estate auction company with structuring compliant operations and obtaining real estate and auctioneer licenses nationwide;
- Assisted a credit card issuer in connection with the development and implementation of a program to generate customer benefits through the use of charge/credit cards to make mortgage payments;
- Assisted major international provider of third-party gift cards with negotiating, structuring and documenting gift card agreements with participating professional sports teams.