Heather S. Klein


Tel 215.864.8732
Fax 215.864.8999

Heather S. Klein advises institutions on federal and state consumer finance laws, including those governing fair lending, credit reporting, privacy, marketing, payments, debt collection, electronic contracting, military lending, mortgage lending, and unfair, deceptive, and abusive acts and practices. 

Before joining Ballard Spahr, Heather was a Fellow with the Financial Frauds and Consumer Protection Division of the New York State Department of Financial Services. There, she worked on legislative matters and contributed to civil investigations of force-placed insurance, variable annuities, and other consumer protection issues.

While in law school, Heather served several government legal internships, including with the Office of Supervision, Fair Lending & Enforcement of the Consumer Financial Protection Bureau Implementation Team; the Office of Assistant General Counsel for General Law, Ethics & Regulation of the U.S. Department of the Treasury; and the Congressional Oversight Panel for the Troubled Asset Relief Program, all in Washington, D.C.

Representative Work

  • Helps companies prepare and respond to examinations and investigations by state and federal regulators 
  • Identifies and remediates compliance weaknesses throughout product lifecycles, including marketing, application, origination, servicing, and collections 
  • Assists lenders and their partners in developing new loan products and channels, including marketplace lenders, small business lenders, and loan brokers 
  • Conducts regulatory due diligence for M&A transactions in the consumer finance space 
  • Helps structure and document programs for secured and unsecured small-dollar loans, credit cards, deposit accounts, student loans, rent-to-own transactions, retail installment sales, and home improvement loans 
  • Develops due diligence, monitoring, and audit plans for third-party vendor management 
  • Counsels creditors and debt buyers and sellers on debt purchases and sales, collection and litigation practices, and state licensing 
  • Advises companies including major card issuers and indirect auto lenders on fair lending compliance and testing programs 
  • Drafts and reviews customer-facing disclosures and agreements, such as those relating to online contracting, electronic fund transfers, account opening, privacy, and credit reporting

Professional Activities

American Bar Association, Business Law Section, Consumer Financial Services Committee; Co-Vice Chair, Truth in Lending Subcommittee; past Young Lawyer Liaison, Deposit Products and Payment Systems Subcommittee and Fair Access to Financial Services Subcommittee

National Council of Higher Education Resources (NCHER) Legal Committee


Co-author, Chapter 9, "Billing Error Resolution," The Law of Truth in Lending 2018 Supplement, American Bar Association 

Co-author, "Vermont Enacts Loan Solicitation License, Amends Other Financial Regulation Licensing Provisions," Ballard Spahr alert, June 2, 2017

Co-author, "Student Loan Servicing Laws Enacted in Washington, D.C., Proposed in New York," Ballard Spahr alert, February 27, 2017

"Fair Lending and UDAAP Issues in Credit and Marketing Models," Consumer Financial Services Committee Newsletter, American Bar Association, March 2016

Co-author, Chapter 9, "Billing Error Resolution," The Law of Truth in Lending 2015 Supplement, American Bar Association

Co-author, "New York Issues Far-Reaching Debt Collection Regulations," Ballard Spahr alert, December 5, 2014

Co-author, "Defense Department Proposes Expansion of Military Lending Act Regulations," Ballard Spahr alert, September 30, 2014

"Guest Commentary: Testing the 'Effects Test' Is Not a Test for Fair Lending Enforcement," Consumer Financial Services Law Report, Vol. 17, Issue 12, December 10, 2013

Co-author, "DOJ Settles Fair Lending Case against Auto Dealer," Ballard Spahr alert, September 23, 2013

Co-author, "Debt Collectors, Meet the New Cop on the Beat: Implications of CFPB's Supervision of Debt Collection Market," Bloomberg BNA's Banking Report, January 1, 2013

Co-author, "New York Federal Court Certifies Class Alleging Fraudulent Collection Practices Based on Documentation Deficiencies," Ballard Spahr alert, September 19, 2012

Speaking Engagements

"California Ramps Up Its Consumer Financial Protection Laws: What You Need to Know, with Special Guests Richard Cordray and Bret Ladine," Ballard Spahr webinar, September 29, 2020

Moderator, "Hot Topics in Income Share Agreements," National Council of Higher Education Resources (NCHER) Legal Meeting, Washington, D.C., March 12, 2020

"Student Lending Update," Ballard Spahr webinar, February 25, 2020

"Increasing Regulation: What Commercial Collectors and Litigators Need to Know About CFPB Regulations, Social Media Ethics and Pending Legislation," Commercial Law League of America Eastern Region Collections Conference, November 14, 2019

"The CFPB's New Proposed Debt Collection Rule," Ballard Spahr webinar, May 14, 2019

"Consumer Financial Services Outlook 2019: Student Lending," Ballard Spahr webinar, March 26, 2019

"Hot Issues for Auto Finance in 2019," Ballard Spahr webinar, March 12, 2019

"Compliance Issues for Campuses," Coalition of Higher Education Assistance Organizations Higher Education Compliance Seminar, Riverdale, New York, May 3, 2018

"Online Advertising for Consumer Financial Products: Fair Lending Issues and Risks," Ballard Spahr webinar, April 17, 2018

"CFPB Update," Coalition of Higher Education Assistance Organizations Annual Conference, Arlington, Virginia, January 29, 2018 

"What Legal Challenges Will 2018 Bring for Student Loan Originators and Servicers?" Ballard Spahr webinar, January 17, 2018

"CFPB Criticism of Student Loan Servicers - What's Next?," Ballard Spahr webinar, June 8, 2017 

"Higher Education Finance: Income Share Agreements," Ballard Spahr webinar, March 28, 2017

"Legal Framework of Income Share Agreements," National Council of Higher Education Resources (NCHER) Winter Legal Meeting, Washington, D.C., March 24, 2017

"The Implications of Madden v. Midland for Online Lending," LendIt USA 2016, San Francisco, April 12, 2016

"How Financial Institutions Can Prevent and Defend Against Redlining Fair Lending Claims," an American Banker webinar, January 13, 2016

"Advertising and Issuing Credit Online," American Bar Association Consumer Financial Services Committee Meeting, Park City, Utah, January 9, 2016

"Recent Developments in Student Loan Servicing," Ballard Spahr webinar, August 11, 2015 

"Implications for Nonbanks and Banks from the CFPB's Auto Finance Larger Participant Rule and new Auto Finance Exam Procedures," Ballard Spahr webinar, June 18, 2015

"Are New York’s Debt Collection Regulations a Sign of What the CFPB Has in Store?" Ballard Spahr webinar, February 19, 2015

"The CFPB’s Evolving Complaint Database: Learn What’s Coming," a CDIA webinar, February 12, 2015

"CFPB Update," Coalition of Higher Education Assistance Organizations Annual Conference, Arlington, Virginia, January 26, 2015

"Everything You Want To Know about CFPB Exams but Have Been Afraid To Ask: An Insider's Perspective," Ballard Spahr webinar, December 9, 2014

"Disparate Impact and Fair Lending Enforcement: What You Need To Know To Protect Yourself," Bank Safety and Soundness Advisor webinar, March 5, 2013

"Creditors, Collectors, and Debt Buyers Beware: What the FTC’s Debt Buying Study Means for the Consumer Financial Services Industry," Ballard Spahr webinar, February 21, 2013

"The CFPB Will Not Be Grading on a Curve! Part I in a Ballard Spahr Webinar Series on the CFPB Education Loan Examination Procedures," Ballard Spahr webinar, January 15, 2013

Georgetown University Law Center (J.D. 2011)
Staff Member, The Tax Lawyer

Cornell University (B.A. 2007, with distinction in all subjects)
Pauline and Irving Tanner Dean's Scholar


New York