Warshaw Burstein LLP | Consumer Financial Services Litigation and Compliance
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Practice Areas

Consumer Financial Services Litigation and Compliance

Our Consumer Financial Services Litigation and Compliance group has extensive experience in successfully representing a wide variety of financial institutions, including banks, FinTech platforms, and providers in the credit and accounts receivable management industry.

This specialized area of law includes litigating in state and federal courts and before governmental agencies. In addition to litigation, we regularly advise clients on compliance and audit controls, developing client specific policies and procedures and compliance/training programs that minimize the risk of compliance liabilities. We also focus in the area of data/cybersecurity and prepare, negotiate and review industry specific agreements tailored to the needs of our clients, in connection with the purchase and sale of receivables, as well as other industry specific contractual arrangements. In all transactions, we vigorously work to achieve the most advantageous terms for our clients, and we use our litigation experience to help clients avoid unnecessary risks. Several of our lawyers previously served in government and self-regulatory organizations, including the Securities and Exchange Commission, the New York Attorney General’s Office, Corporation Counsel of the City of New York and as general counsel to various banks.

Our Consumer Financial Services Litigation and Compliance group has defended clients in individual and class action lawsuits brought under the Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), Telephone Consumer Protection Act (TCPA) Truth in Lending Act (TILA), Racketeer Influenced and Corrupt Organizations Act, as well as related consumer torts and associated state consumer protection laws. We have experience representing companies with complaints, investigations and proceedings initiated by the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission, Federal Communications Commission, and other federal, state and municipal governmental regulatory agencies, including state Attorneys General and negotiating consent decrees on their behalf.

Our practice group leader is nationally recognized for providing companies with creative strategies and effective representation in all phases of litigation and administrative proceedings, from inception through trial (or arbitration) and appeals, covering a broad range of substantive matters.

When appropriate, we will prepare amicus brief on behalf of clients, trade groups and other interested parties in cases of importance to our clients and their industries.

Consumer Financial Services Compliance is an all-encompassing multi-disciplinary area that requires comprehensive knowledge of a wide range of subjects, including relevant federal, state and municipal laws and regulations, regulatory and licensing requirements and privacy issues. Regulatory legislation and consumer lawsuits have increased with many areas of law that once were considered relatively straightforward now becoming increasingly complex and more nuanced. We provide comprehensive client specific assistance by designing effective regulatory compliance and risk management programs, while monitoring compliance frameworks. We advise clients about the implications of existing and impending legislation and regulation and their effect on clients’ business objectives, and we provide the legal and technical analysis for efficient and cost-effective compliance solutions. We offer the following client driven services:
  • Providing ongoing document compliance review
  • Preparing and implementing policies and procedures
  • Preparing employee training materials
  • Assisting with complaint resolution
  • Administering compliance training and testing, including conducting management/operational analysis and performance review
  • Administering vendor oversight and regulatory compliance for third party debt collectors, debt buyers, collection law firms and creditors collecting their own debt
  • Structuring regulatory compliance counseling related to the purchase and sale of consumer debt/distressed receivables
  • Preparing and testing Business Continuity and Disaster Recovery Plans, along with remediation reporting
  • Providing broad based compliance audits/due diligence reviews with a focus on CFPB areas of regulation, including but not limited to physical and data/cybersecurity, financial controls, vendor management, FDCPA, FCRA TCPA and TILA compliance (where applicable), account management and wide-ranging risk assessments with remediation reporting
  • Preparing for and assisting in undergoing regulatory examinations
  • Counseling clients on various laws regulating the collection and sharing of consumer data

With a keen understanding of economic interest and risk, we maintain close ongoing relationships with our clients and provide them with regular continuing assistance on regulatory compliance and governance matters.