As the banking industry struggles to put the mortgage robo-signing scandal behind it, new accusations of similar problems with other forms of consumer debt threaten banks.

Ballard Spahr's consumer financial services partner Christopher Willis suggests that prevention is the best way to avert problems. His pointers for banks wishing to avoid documentation troubles, based on his firm's watchlist, include:

  • Know what you’re buying
  • Pay attention to early signs of trouble
  • Look beyond affidavits
  • Look before you sue
  • Insist on possessing the documentation
  • Cross-check accounts

Related Practices

Bank Regulation and Supervision
Consumer Financial Services
Mortgage Banking