Our nationally recognized group advises on regulatory matters, assists in the design and documentation of credit products, and represents clients in class actions, regulatory enforcement proceedings, and other lawsuits nationwide. We represent clients ranging from the largest financial institutions in the nation to smaller enterprises and Internet-based providers.


The 2013 edition of Chambers USA ranked our group in the highest tier nationally in the category of Financial Services Regulation, recognizing our "premium consumer finance team" for excellent client service. The group includes seven members of the American College of Consumer Financial Services Lawyers, including its first president. This organization was founded to honor lawyers who have made substantial contributions to the development of consumer financial services law.

Our experience includes:

  • Pioneering the use of pre-dispute arbitration in consumer financial services contracts; we have designed, implemented, and enforced arbitration programs for many of the largest financial institutions in the world
  • Consumer class actions, regulatory proceedings, and individual actions
  • Compliance and licensing advice for the residential and commercial mortgage banking industries
  • Pricing, design, and regulation of all types of credit products, including short-term loan programs, credit card and other open-end products, motor vehicle and home loans, and government-insured and private student loan programs
  • Pricing, design, and regulation of deposit products such as checking and money market accounts, certificates of deposit and sweep accounts, and debit and stored-value cards
  • Advertising and marketing
  • Compliance with all UDAP statutes
  • Privacy, data mining, credit reporting, and debt collection practices
  • Regulatory compliance due diligence on lenders and servicers

Our attorneys advise financial institutions across the country in lending, leasing, and deposit-taking matters and keep them in compliance with an increasingly complex regulatory structure. Clients include:

  • Banks
  • Savings associations
  • Consumer finance companies, including payday, auto title, and pawn lenders
  • Providers of stored-value cards
  • Automobile leasing, rental, and financing entities
  • Mortgage bankers and brokers
  • Credit unions
  • Providers of software-generated forms and documentation
  • Retailers

LITIGATION AND ARBITRATION

The group has developed a pre-eminent consumer financial services litigation practice, defending banks and other financial institutions throughout the United States in class actions, regulatory proceedings, and other complex litigation.

We often act as sole counsel or national coordinating counsel in defending litigation for major consumer financial services providers. Our litigators have handled class actions and other lawsuits involving:

  • Enforcement of arbitration provisions in consumer credit contracts
  • Challenges to interest rates, fees, and other contract terms
  • Compliance with the gamut of federal and state consumer financial services laws, including challenges to clients' TILA, HOEPA, ECOA, FCRA, FDCPA, RESPA, and EFTA compliance
  • Claims of credit discrimination and reverse redlining
  • Marketing and advertising practices
  • Privacy issues
  • Insurance issues
  • Claims against spurious arbitration companies and fraudulent debt management companies

PRODUCT GUIDANCE

We represent clients in developing new or complex financial services products and in acquiring issuers or portfolios of such products.  We negotiate and draft commercial agreements with third parties and assess applicable federal and state laws and judicial decisions. We draft consumer agreements and disclosures and communicate with regulatory authorities. We also conduct due diligence of issuers and portfolios. 

Our experience includes:

  • Implementation and enforcement of pre-dispute arbitration programs, including the most novel and consumer-friendly programs in the market today
  • Advertising and marketing requirements
  • Compliance with state and federal "UDAP" statutes that prohibit unfair and deceptive acts and practices
  • Pricing and design of all types of credit products, including secured and unsecured loans; credit cards, home equity lines of credit, and other open-end products; retail installment sale agreements, consumer leases, and layaway agreements; government-insured and private student loan programs and related tuition payment plans; and higher risk niche products, typically directed to subprime customers, such as tax refund anticipation, payday, and auto title loans, as well as rent-to-own and pawn agreements
  • Payment card products, including payroll and other stored-value cards and gift cards, as well as more traditional deposit products and certificates
  • Credit insurance products and debt cancellation and suspension products
  • Use of the Internet and electronic payment systems in the delivery of financial services
  • Federal preemption, Commerce Clause, and conflict of law issues
  • Privacy, data mining, credit reporting, and debt collection practices
  • Delivery of financial services through social networking and mobile phone technology 
  • Electronic records storage and electronic delivery of credit-related disclosures

REGULATORY ASSISTANCE

Our attorneys guide clients in responding to compliance and safety and soundness examinations, administrative investigations, enforcement proceedings, and other dealings with regulatory authorities. 

Our experience encompasses the full range of federal and state banking and credit laws. We regularly deal with federal and state banking and enforcement agencies, including all of the federal banking agencies and state agencies both within and outside our geographic footprint.

Our Mortgage Banking Group provides regulatory compliance advice to clients in both the residential and commercial mortgage banking industries. Attorneys in the group also handle issues related to repurchases, state and federal licensing, transactions, due diligence and audits, litigation, and administrative enforcement. They also advise industry service providers such as document preparation companies, telemarketers, loan fulfillment companies, and trade associations.

contact

Alan S. Kaplinsky 
Practice Leader 
Tel 215.864.8544
kaplinsky@ballardspahr.com

Jeremy T. Rosenblum
Practice Leader 
Tel 215.864.8505
rosenblum@ballardspahr.com