Law firms say increased regulatory and enforcement activity by the Consumer Financial Protection Bureau is giving them more business. Ballard Spahr said its Consumer Finance practice will grow revenue by 50 percent, and the firm has increased the number of lawyers in the group from 60 to 75.

Practice Leader Alan S. Kaplinsky said the CFPB’s currently regulatory focus is on the mortgage industry; the CFPB is set to finalize regulations that will overhaul how banks originate and service residential mortgages in January.

“We are representing companies where the CFPB has made demands and sometimes they are overwhelming,” Mr. Kaplinsky said. “They ask for papers from years ago and it costs a fortune to review them.”

Related Practices

Bank Regulation and Supervision
Consumer Financial Services
Mortgage Banking