CONSUMER FINANCIAL SERVICES QUICK FACTS

A team of over 50 attorneys who have substantial experience with consumer financial laws, regulatory issues, and litigation matters

 

HONORS AND AWARDS

Recognized by Law360 as the 2017 "Consumer Protection Group of the Year"

Recognized by Chambers USA

Ranked among the nation's top firms, Financial Services: Regulatory, in Legal 500

Ranked in U.S. News-Best Lawyers "Best Law Firms" for Financial Services Regulation Law, 2012 - 2017

Attorneys with top rankings by

  • Best Lawyers in America
  • Chambers USA
  • Martindale-Hubbell
 

PRACTICE FOCUS

Regulatory and compliance

SEC investigations

Commercial loan documentation

Corporate transactions

Litigation and dispute resolution

Banking and financial services

Privacy and data security

Investment in financial institutions

Insurance regulations

Corporate governance matters

Employee benefits and compensation

Foreign Corrupt Practices Act

Legislative and government affairs

Credit counseling and debt services

Branding and intellectual property

Estate and trust administration

Real estate transactions

Mobile banking

 

CLIENTS

Banks and thrifts

Commercial lenders

Consumer lenders

Government-sponsored enterprises

Insurance companies

Securities underwriters and brokers

Mortgage bankers

Credit Unions

Payments businesses

 

Consumer Financial Services



Bank and nonbank lenders face a broad and evolving set of laws and regulations. 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.

Venable is comprised of an interdisciplinary team of attorneys who have decades of experience advising clients on consumer financial services and banking regulation, law enforcement investigations and actions involving consumer protection laws, advertising and marketing laws, privacy and data security, legislative and government affairs, and class action defense.

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:

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.

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.

Examination preparation.

Venable has dedicated a team of attorneys to assist our bank and nonbank clients with preparing for a 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.

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.

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

ADVICE FOR EVERY ASPECT OF YOUR BUSINESS

Consumer Financial Protection Bureau

Since the Consumer Financial Protection Bureau (CFPB) opened for business in July 2011, we have represented dozens of clients in connection with CFPB regulatory, examination, and enforcement matters. We counsel and advise banks, credit unions, credit card issuers, money transmitters, mortgage originators and lenders, small dollar lenders, auto lenders, student loan originators and marketers, credit reporting agencies, consumer credit counseling agencies, debt relief services providers, debt buyers and collectors, prepaid card providers, and innovative payments providers on all aspects of consumer finance law.

Our attorneys also have extensive experience representing consumer financial product and service providers, and their vendors, before the federal banking agencies, the Federal Trade Commission (FTC), Department of Justice (DOJ), United States Attorneys’ offices, United States Congress, state regulators, and state attorneys general (AG).

We provide the insight and counsel that derive from our in-depth understanding of the regulatory challenges facing the consumer financial services industry. Many of our attorneys formerly served as government regulators, including at the CFPB, FTC, banking regulators, and DOJ, and their experience enables us to help our clients understand and comply with the evolving expectations of the CFPB.

Consumer Finance 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.

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.

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.

REPRESENTATIVE EXPERIENCE

  • Venable has developed and performed compliance reviews, gap analyses, and audits of compliance management systems of “larger participant” nonbanks and banks, in preparation for CFPB supervision and examinations.
  • We represent numerous publicly traded and private banks and nonbanks, third-party service providers, and officers and key employees, in connection with civil investigative demands received from the CFPB’s Office of Enforcement, and related enforcement proceedings, and/or supervision examinations, including appeals of reports of examination. Our experience also includes helping clients navigate related investigations by other government agencies and private class action litigation.
  • We provide ongoing compliance advice, and review proposed consumer financial products and services, and their advertising and marketing, with a focus on unfair deceptive and abusive acts and practices (UDAAP) and other consumer financial protection law and regulation, in areas that include credit cards, ancillary (add-on) products, small dollar loans, deposit advance lending, mortgage origination and servicing, automobile financing, credit reporting, debt collection, and prepaid cards.
  • We regularly meet with CFPB staff from different agency offices, including the Rules, Markets, Supervision, and Consumer Engagement and Education offices on behalf of our clients.
  • We help clients respond to CFPB rulemakings and policy initiatives, in such areas as mortgage, debt collection, “larger participant” nonbank supervision, credit reporting and furnishing, consumer complaint handling, and financial education and literacy.
  • We provide insight and advice on federal government affairs and the legislative process, including issue management, direct advocacy, developing and guiding legislation, for leading consumer financial services companies, trade associations, and industry coalitions.