Bank and nonbank lenders face a broad and evolving set of laws and regulations, particularly in light of the formation of the Consumer Financial Protection Bureau.  Venable's consumer financial services attorneys recognize that there are many potential impediments to the success of your business, from compliance with federal or state consumer finance regulation, to organizational or operational concerns, to the resolution of legal disputes.  And we have firsthand experience with solving them.

We represent a broad array of clients across the consumer finance industry, including:

• banks, thrifts and financial holding companies;
• installment lenders;
• credit unions;
• mortgage bankers and servicers;
• debt collection agencies;
• credit reporting agencies;
• government-sponsored enterprises;
• payments businesses;
• money transmitters; and
• credit counselors

Our team includes attorneys who have held senior positions at state and federal agencies, and who have been recognized as among the best in their field.  When you work with Venable, you work with a team that lives in your world and understands the challenges that financial service companies deal with every day. 

ADVICE FOR EVERY ASPECT OF YOUR BUSINESS

Experienced business advice—from strategic planning to operations and beyond.

We have counseled numerous organizations in the consumer financial services industry in all phases of business operations, including planning, product design, licensing, compliance and more.

We work with clients to develop and implement business plans through an approach that considers the numerous factors critical to success. This includes entity formation and incorporation, federal and state regulation, tax planning, business operations, product development, disclosure and compliance, and intellectual property and trademark protection.

Mortgage lending.

Venable is a recognized leader in providing legal advice to the residential mortgage lending industry, and advising clients in the broad range of federal and state laws that govern real estate transactions, including lending and disclosure statutes as well as all relevant federal and state laws and regulations.

Regulatory compliance advice—from attorneys who know the agencies.

We are uniquely able to help bank and nonbank consumer lenders to comply with state and federal laws.  Venable attorneys are intimately familiar with the alphabet soup of consumer protection laws, from Regulation B to Regulation Z. Every day attorneys provide clients with advice on how to comply with the complex web of laws that apply to consumer lending, including ECOA, FCRA, FDCPA and TILA. Venable attorneys continually monitor the activities of the new Consumer Financial Protection Bureau. We keep on top of all of the Bureau's activities – both regulatory and informal – from their “Know Before You Owe” campaigns to their creation of complaint databases.

Examination preparation.

Venable has dedicated a team of attorneys to assist our bank and nonbank clients with preparing for a CFPB supervisory examination. We can help you prepare your documents as well as your employees for this new supervisory environment.

Corporate compliance and licensing.

Our team includes attorneys who assist in the critical process of licensing consumer lenders. We provide counsel on all manner of licensing requirements, reporting requirements and compliance with state and federal statutes, among others.

Advertising and marketing.

Lenders face a complex range of marketing laws and regulations that require specific legal advice. We advise our financial services clients on the full suite of marketing laws and regulations, ranging from TILA compliance to privacy and data security issues.

Lobbying.

Venable attorneys continually monitor all federal legislative and regulatory developments and provide clients with weekly updates of the status of key legislation and hearings.

Litigation and dispute resolution.

Disputes are a reality in the consumer lending industry and must be dealt with effectively. Venable's deep and experienced litigation team represents clients in multiple jurisdictions and venues in all manner of disputes, ranging from government investigations, to bankruptcy, and arbitration and mediation. We advise on DOJ, AG and FTC investigations, state foreclosure and collection statutes, and employment, class action and appellate litigation matters.

In short, we bring together the two most important elements needed for consumer lenders and product retailers to succeed:  firsthand experience with the business issues and challenges that drive your industry and a thorough knowledge of the ins  and  outs of the regulatory environment.