Consumer Financial Services

Our Consumer Financial Services Practice Group counsels clients nationwide with the maintenance of robust Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA) and Telephone Consumer Protection Act (TCPA) compliance programs. The team also assists clients in inquiries by federal regulatory agencies, guiding them through investigations, examinations, and enforcement matters conducted by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC), and defending them in high-stakes class action litigation when disputes arise. We have significant experience in advising healthcare clients in compliance and litigation matters involving consumer finance and patient billing.

We represent consumer reporting agencies in government investigations, class action litigation and individual cases from initial discovery through jury trial. We counsel furnishers of consumer data in a variety of industries about their obligations under the FCRA and represent them in federal regulatory investigations and litigation. We regularly advise clients in contracts and business relationships that involve consumer data sharing.

Our attorneys have assisted clients with alleged violations of the FCRA, FDCPA, TCPA, state consumer protection acts and additional related legislation. Our engagements have involved potential financial exposure reaching into the hundreds of millions of dollars and potential class sizes of up to one million members.

Areas of Focus

We provide nationwide legal counsel on the following:

• Consumer credit
• Debt collection policies and procedures
• Telephone consumer protection
• Privacy policies and practices
• Cyber responsibility, data security and breach responses
• Insurance coverage
• Director and officer duties and responsibilities
• Compliance and risk officer functions

What Sets Us Apart

Experience with Consumer Protection Agencies: We have significant experience with the CFPB and FTC in investigations and high-stakes enforcement actions. This experience allows us to navigate regulatory complexities effectively, ensuring our clients receive strategic guidance and robust representation in all aspects of their cases.

Insight from Former State AG: Our team includes former Tennessee Attorney General Bob Cooper, who served in the role for eight years. During that time, Bob actively pursued consumer protection investigations involving financial services, food and beverage, healthcare, insurance, manufacturing and other industries. He personally participated in negotiating sessions that led to a $25 billion mortgage loan servicing and foreclosure settlement with five major banks, which included robust compliance monitoring provisions. His broad and deep experience with consumer protection matters and insight as a former Attorney General provides a unique perspective in developing compliance and enforcement strategies.

Proven Class Action Track Record: We have a proven track record in defending high-stakes class action lawsuits. We have successfully defeated class certification and obtained favorable outcomes on the merits for our clients across industries. Our deep understanding of class action dynamics, coupled with innovative legal strategies, ensures that we protect our clients' interests and reputations effectively.

Deep Sector Knowledge: Our Consumer Financial Services team works closely with leaders of industry-focused practice groups, including financial services, higher education and healthcare. This collaboration ensures we deliver in-depth subject matter knowledge tailored to meet our clients’ specific goals and objectives.

Experience

• Summary Judgment Win in FCRA Case
  We obtained summary judgment on behalf of EdFinancial Services, a student loan service provider, against a Fair Credit Reporting Act...
• FTC Investigation of Alleged FCRA Violations
  The Federal Trade Commission (FTC) opened an investigation into potential violations of the Fair Credit Reporting Act (FCRA) by TeleCheck...
• CFPB Investigation into Alleged FCRA Violations
  We represented our client, a third-party loan servicer managing a portfolio of several billion dollars' worth of loans nationwide, in...
• Nationwide Litigation Counsel for EdFinancial Services, LLC
  We serve as nationwide litigation counsel for EdFinancial Services, LLC, a loan servicing company, coordinating and handling the defense of...
• Summary Judgment in Federal FCRA Case
  We obtained summary judgment for EdFinancial Services in a federal FCRA case, successfully arguing that the plaintiff suffered no damages...
• Class Action in Alleged Violations of the FCRA
  We defended First Data Corporation (now Fiserv) and its affiliate, TeleCheck Services, in a class action that alleged violations of...
• Defense of Illinois Regulatory Proceeding
  The Illinois Department of Financial and Professional Regulation filed a complaint against our client, TRS Recovery Services, putting in jeopardy...
• Defense of FCRA Class Action Lawsuit
  We defended a nationwide specialty consumer reporting agency against a class action lawsuit filed in federal court in Chicago that...

Professionals