Joel E. Tasca has defended banks and other financial institutions in consumer class and individual actions for over twenty years. These cases have arisen out of residential mortgage loans, credit card accounts, and an array of other consumer financial services. Many of these suits have been brought under federal consumer protection laws such as the Fair Credit Reporting Act, the Telephone Consumer Protection Act, the Truth in Lending Act, and the Real Estate Settlement Procedures Act, as well as under state unfair, deceptive, or abusive acts and practices statutes.
Litigation against banks and other financial institutions is more prevalent than ever. Consumer plaintiffs' attorneys have sprouted like weeds, and many have devoted themselves to an ongoing search for vulnerabilities in the business practices of financial institutions. This trend is set to increase in the future as rapid advancements in technology and an exponential increase in available consumer data usher in changes to financial institutions' business practices, and cause plaintiffs' attorneys to ponder new theories of potential liability.
In this environment, it is critical for financial institutions' outside litigation counsel to have the vision to identify vulnerable business practices up front so that clients can take action to minimize risks and avoid litigation altogether. When litigation does occur, outside counsel must approach each case with flexibility to reach fast and efficient resolution when stakes are low, and scale up to fight aggressively when stakes are high or when a message must be sent to plaintiffs and their counsel.
As part of Ballard Spahr's highly-respected Consumer Financial Services Group, Tasca has counseled financial institutions on ways to reduce their risk of liability to consumers, and has obtained countless dismissals, summary judgments and jury verdicts, as well as favorable settlements, on behalf of financial institution clients in consumer lawsuits. For example, in 2017, Tasca and his team resolved a class action against a major national bank that had lasted more than a decade for a tiny fraction of the multi-billion dollar recovery sought on behalf of the class.
Joel is a member of the firm's Privacy and Data Security Group where he advises financial institutions and other clients across various industries on preparing for and responding to data breaches and data security incidents. Most recently Joel is counseling clients in anticipation of the California Consumer Privacy Act, which applies to all entities doing business in California.