Gerald S. Sachs (Gerry) is a partner in Venable's Government Division, where he will assist consumer financial services companies with compliance, law enforcement investigations, and litigation. Mr. Sachs advises consumer financial services companies on all aspects of state and federal consumer financial protection law, ranging from disclosures to debt collection. He also assists clients with compliance audits, supervisory examinations, enforcement investigations, and civil and criminal litigation.
Mr. Sachs assisted the Consumer Financial Protection Bureau (CFPB) with building its enforcement office. While with the CFPB, he was senior counsel for policy and strategy with the enforcement office, where he assisted with strategic planning, drafting policies and procedures, coordinating with other regulators, conducting investigations, supporting supervisory examinations, and working on intra-agency payments systems and other initiatives. He led two teams of attorneys that focused on auto finance, credit cards, mobile payments, emerging payments (digital currency), and prepaid cards. In addition, he assisted the CFPB with its mortgage servicing rules implementation and internal oversight matters.
Before joining the CFPB, Mr. Sachs served as an Assistant United States Attorney for the Northern District of Georgia, where he prosecuted both civil and criminal cases ranging from the False Claims Act to money laundering and forfeiture, economic crimes, and computer intrusion. One of Mr. Sachs’ cases involved the prosecution of an elaborate international computer hacking scheme in which hackers stole consumer information and used counterfeit payroll debit cards to withdraw more than $9 million from thousands of ATMs around the world in a matter of hours. Mr. Sachs also served as part of the Hurricane Katrina task force and assisted the Office of Overseas Prosecutorial, Development, Assistance, and Training with its Merida high-profile initiative to train Mexican federal prosecutors, agents, and expert witnesses.
Prior to the U.S. Attorney’s office, Mr. Sachs was an attorney for the Federal Trade Commission’s Southeast Region office, where he prosecuted various unfair and deceptive acts and practices in violation of federal consumer law. Mr. Sachs also worked in private practice prior to his government service.
- CFPB v. UniRush LLC d/b/a RushCard, represented a major prepaid card company in relation to a platform conversion issue and investigation.
- U.S. v. Tšurikov, Pleshchuk, Horohorin et al., assisted with the indictment, superseding indictments, and extradition of defendants related to an international hacking case of a payroll card company.