Consumer Finance

We advise financial institutions on state and federal regulatory compliance for their mortgage, home equity, auto, student loan, credit sale and other consumer lending programs. Specific areas where we assist our clients include:

Dodd-Frank compliance
New rules and interpretations from the CFPB
Regulation Z and the Truth-in-Lending Act
Regulation B and the Equal Credit Opportunity Act
Regulation X and the Real Estate Settlement Procedures Act
Regulation C and the Home Mortgage Disclosure Act
Regulation M and the Consumer Leasing Act
Regulation BB and the Community Reinvestment Act
Regulation P and related federal and state privacy requirements
Mortgage, student loan and other servicing regulations
Servicemembers Civil Relief Act
Regulation DD and the Truth-in-Savings Act
Regulation CC and the Expedited Funds Availability Act
Regulation E and the Electronic Fund Transfer Act
ACH transactions
FDIC, OCC, FRB regulations
The Fair Credit Reporting Act
The Fair Debt Collection Practices Act and state debt collection laws
SAFE Act and state licensing and registration requirements
Loan officer compensation regulations
Mergers and acquisitions
Student lending
Portfolio and company due diligence
Portfolio sales
Buy-sell and correspondent agreements
Federal and state interest rate and usury law
Government and private student loan requirements
Escheat and abandoned property laws
FTC Act and state unfair trade practice laws
Bank and operating subsidiary preemption
FHA, Ginnie Mae, Fannie Mae and Freddie Mac programs
Fannie/Freddie Home Valuation Code of Conduct and state appraisal regulations
Holding company and multi-state banking and lending problems
State and federal subprime, “predatory” and related lending laws
USA PATRIOT Act, Bank Secrecy Act and related anti-money laundering laws

On behalf of our clients, we evaluate, structure and document consumer credit products and services. These include first and second mortgage loans, home equity credit arrangements, credit card and revolving loans, consumer leases, personal installment loans, student loans, retail lending, motor vehicle and other retail installment sale programs.

We represent clients before federal and state regulators, including the CFPB, HUD and FTC, as well as federal and state banking agencies and other regulatory bodies.