The Dodd-Frank Wall Street Reform and Consumer Protection Act ushered in an era of regulatory oversight and scrutiny that touches nearly every segment of the nation's financial services industry. Our Financial Services Regulatory Matters Group helps clients navigate the maze of regulatory requirements, stay ahead of business-critical issues, and manage compliance effectively.
Our Services and Our Team
Our team is closely aligned with lawyers in related practices to provide integrated client solutions. For example, we work closely with our Mergers and Acquisitions Team to help clients take advantage of new market opportunities. Our Securities Group assists with securities offerings, securities act filings, proxies and shareholder issues, and exchange and NASDAQ listings. We also leverage the strength and experience of the firm's litigators as needed to represent our clients in SEC and FINRA enforcement investigations as well as before state attorneys general and state regulatory bodies. Members of our Data Privacy + Cybersecurity Team and Regulatory Team have combined their resources to establish a Financial Services Cyber-Compliance Team to assist clients in complying with new regulations designed to counter technology-driven threats to the financial services industry.
The regulatory matters we handle for financial services providers include the following:
We regularly deal with issues arising under various federal and state laws, including the following federal Acts:
Our lawyers have a broad background in dealing with state and federal regulators in transactions. We counsel banks, insurance companies, mortgage companies, and other financial service providers on numerous regulatory and operating issues and frequently represent them before regulators in connection with regulatory matters and enforcement actions. We advise clients in connection with federal and state regulations affecting loan origination, loan servicing, licensing, branching, financial privacy, fair lending, and anti-money laundering.
Assisted institutions in complying with consumer protection and other laws affecting consumer products and services. Institutions are subject to the numerous laws, which are designed to protect consumers, such as unfair and deceptive acts and practices ("UDAP") acts, "plain language" contract laws, and regulations governing advertising, retail sales promotions, promotional drawings, and raffles.
Counseled financial institutions in addressing privacy issues raised by the Gramm-Leach-Bliley Act, the Fair Credit Reporting Act, and various state laws.
Assisted individuals and institutions in addressing licensing issues regarding the sale and promotion of insurance products.
Assisted institutions in complying with installment loan financing laws applicable to auto mobile loans and other consumer goods and services, and the FTC holder-in-due course and trade practices rules, as well as state and federal regulations relating to timeshares, campground interests, student loans, and other consumer obligations.
Represented clients in the audit, acquisition, financing, and sale of residential loan portfolios, timeshare loan portfolios, student loan portfolios, campground unit purchase contracts, automobile leases, and other consumer receivables, including due-diligence reviews of the underlying documents, contracts, and procedures for compliance with federal and state laws.
Counseled clients with respect to the Truth-in-Savings Act, deposit account contracts, credit insurance, electronic funds transfers, ACH transfers, garnishments, setoffs, the offering of securities products and life insurance, as well as other matters affecting the rights of consumers in relation to bank deposit accounts and other financial investment products.
Assisted clients in complying with state and federal laws applicable to the collection of consumer debts and other consumer obligations, as well as the repossession of the accompanying collateral.
Assisted in employment matters, including compliance with federal regulatory requirements.