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Consumer Financial Services Litigation

Consumer financial services companies face a constant onslaught of litigation and risk arising from a multitude of federal and state consumer protection laws. They also contend with enforcement actions from federal and state regulators and agencies, including the Consumer Financial Protection Bureau (CFPB). Navigating these obstacles while managing legal costs in today’s crowded and shifting market presents unique challenges for these institutions.

Attorneys in Saul Ewing Arnstein & Lehr's Consumer Financial Services Litigation Practice are sensitive to these challenges and provide their clients with practical, industry-specific advice and counsel. Specifically, our attorneys counsel and defend a wide range of clients, including banks; financial services companies; student loan servicers; mortgage bankers, brokers and servicers; title companies; pay-day lenders; auto finance companies; and tribal lenders in class actions and individual actions brought by borrowers and consumers across the country.

These cases routinely arise from claims asserted under the following federal and state consumer protection statutes: the Telephone Consumer Protection Act (TCPA); New Jersey Consumer Fraud Act; Equal Credit Opportunity Act (ECOA); Fair Credit Reporting Act (FCRA); Electronic Funds Transfer Act (EFTA); Fair Debt Collection Practices Act (FDCPA); Home Ownership and Equity Protection Act (HOEPA); Real Estate Settlement Procedures Act (RESPA); Retail Installment Sales Financing Act; Truth in Lending Act (TILA); and federal and state unfair trade practices acts and uniform commercial codes (UCCs), among many others. Our Consumer Financial Services litigators are well-versed in these federal and state statutes and adept at assessing a client’s potential risk and exposure under these statutes.

Our attorneys also handle state and federal investigations and enforcement actions. These have included investigations by states’ attorneys general and state departments of consumer protection via their subpoena power, as well as civil and criminal enforcement actions brought in state court. We have also represented consumer financial services companies who have been served by the CFPB with broad and overreaching civil investigative demands, which have resulted in successful negotiations to reduce the scope of the information demanded. In those instances where the CFPB has actually filed enforcement actions, we have been able to resolve those actions with favorable settlements and related consent orders.

Our team maintains a keen focus on managing our clients' costs efficiently throughout each case and on staffing matters appropriately. We also leverage flexible and creative alternative fee structures for clients where appropriate.

 

Experience

Saul Ewing Arnstein & Lehr attorneys have handled these select consumer financial services matters in the representation of:

  • A national mortgage servicer in obtaining the dismissal of an adversary action arising from alleged violations of the Truth in Lending Act, and other consumer protection statutes.
  • A national auto financial company as select regional counsel in the defense of claims arising from alleged violations of the TCPA, FCRA, FDCPA, EFTA, and state and federal consumer protection and repossession statutes.
  • A national mortgage servicer in the defense of claims arising from alleged violations of the TCPA and FCRA.
  • A national bank in a multi-district class action litigation arising from overdraft fee practices.
  • National bank and mortgage corporations in the successful defense of multi-million-dollar consumer financial services class actions involving truth-in-lending, settlement services, broker compensation and other issues.
  • A national student loan servicer from a putative class action arising from alleged violations of the Electronic Funds Transfer Act.
  • A national student loan servicer from a putative class action arising from alleged violations of the Fair Debt Collection Practices Act.
  • A national auto-finance company in putative class actions arising from alleged violations of Maryland’s Credit Grantor Closed End Credit Provisions.
  • A national auto-finance company as co-counsel in a putative class action arising under the Servicemembers Civil Relief Act.
  • A national reward program and marketing company in defense against a putative nationwide TCPA class action arising from alleged impermissible text messages.
  • A national title agency and regional title underwriter in a government investigation.
 

Recognition

The group includes attorneys who have received the following recognition:

Trade Groups & Associations

Contacts

Ryan L. DiClemente
Francis X. Riley III