Financial Services: Regulatory, Compliance, and Licensing

Overview

As regulatory oversight grows more complex and enforcement actions become more aggressive, our national team provides proactive advice and practical strategies to institutions at all levels of the financial services industry. Our attorneys – among them several former regulators – maintain good working relationships with agency decision makers and key industry leaders. We counsel banks, nonbank lenders, insurers, and a wide array of other financial services clients regarding examination, compliance, and risk management issues. We provide ongoing support for sustainable best practices. We also defend clients against regulatory actions and consumer-led litigation in individual and class action matters. With deep understanding of our clients’ business goals, we offer smart, practical counsel that supports and promotes those objectives.

What we do

Our cross-practice, nationwide team advises and represents clients in connection with matters relating to:

  • Consumer Financial Protection Bureau
  • Data privacy and protection
  • Department of Justice
  • Department of the Treasury
  • Fair Credit Reporting Act audits
  • Fair Lending Act
  • Federal Deposit Insurance Corporation
  • Federal Trade Commission
  • Internal investigations
  • Nationwide Mortgage Licensing System and American Security Against Foreign Enemies (SAFE) Act of 2015
  • Office of Foreign Assets Control
  • Other state and federal agencies
  • Red Flags Rule
  • Securities and Exchange Commission
  • Social media compliance
  • Unfair or Deceptive Acts or Practices (UDAP) state statutes
  • Vendor management
More »
Who we work with
  • Banks
  • Credit card issuers
  • Credit unions
  • Insurance companies
  • Investment banks
  • Loan servicers
  • Mortgage lenders
  • Payday lenders
  • Payment systems providers
  • Specialty lenders (auto, student, etc.)
  • Thrifts
Industries
  • Automotive
  • Banking
  • Consumer lending
  • Healthcare
  • Hospitality
  • Insurance
  • Mortgage lending
  • Retail
  • Securities

Select Experience

  • Provide training and counseling to financial services companies regulated by the Consumer Financial Protection Bureau.
  • Provide licensing counsel to mortgage lenders regulated by the SAFE Act.
  • Provide state agency enforcement counsel to mortgage lenders, banks, and specialty financers.
  • Counseled a publicly traded financial services client regarding a Consumer Financial Protection Bureau investigation through to resolution. Engaged in risk assessment counseling and utilized regulatory experience to achieve the best result for the client concerning state and federal regulators.
More »

Professionals

Name Title Office Email
Associate Columbus
Partner Atlanta
Associate Cleveland
Partner Atlanta
Partner Cleveland
Senior Advisor Cleveland
Associate Cleveland
Partner Cleveland
Partner Orlando
Partner Cincinnati
Associate Atlanta
Senior Advisor Columbus
Senior Advisor Washington, D.C.
Counsel New York
Partner New York
Partner Cleveland
Partner New York
Associate Columbus
Associate Columbus
Partner Washington, D.C.

Experience

  • Provide training and counseling to financial services companies regulated by the Consumer Financial Protection Bureau.
  • Provide licensing counsel to mortgage lenders regulated by the SAFE Act.
  • Provide state agency enforcement counsel to mortgage lenders, banks, and specialty financers.
  • Counseled a publicly traded financial services client regarding a Consumer Financial Protection Bureau investigation through to resolution. Engaged in risk assessment counseling and utilized regulatory experience to achieve the best result for the client concerning state and federal regulators.
  • Provide operational analysis of lending operations, including origination, processing/underwriting, closing/post-closing, and servicing policies and procedures.
  • Assisted a nationally recognized lender with large-scale licensing and compliance matters with state regulators.
  • Provided compliance and regulatory due diligence for a large consumer loan portfolio acquisition.
  • Created automated clearinghouse-related internal policies and procedures to comply with Regulation E.
  • Established OFAC compliance policies and programs and proved related training for a number of financial institutions.
  • Prepared OFAC voluntary self-disclosure for industry clients.
  • Assisted with responses to SEC enquiries regarding dealings with embargoed countries/sanctioned persons.

Recognition

  • Recognized as one of the top law firms for client service, we were named to the 2018 BTI Client Service 30 for the fourth consecutive year.

Blog

In The Blogs

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Financial Services Blog
FTC Reaches Settlement With Debt Collector; Imposes Financial Penalties and Other Remedies
December 29, 2017
On Dec. 5, 2017, the Federal Trade Commission reached a settlement with three defendants who it alleged partook in deceptive, abusive and unfair debt collection practices in violation of the Federal Trade Commission Act and the Fair Debt...
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Financial Services Blog
SEC Acts on Cryptocurrencies and ICOs
By Walter Van Dorn
December 14, 2017
In the past few years, and particularly in the past few months, cryptocurrencies or digital currencies – most notably bitcoin and ether – have surged in popularity and dominated the financial press and to some degree even the mainstream...
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Financial Services Blog
Cordray to Resign as CFPB Director
November 16, 2017
In an email to CFPB staff on Wednesday, Director Richard Cordray announced that he will resign by the end of November. Although it is rumored that Director Cordray will run for governor of Ohio, he did not specify his future plans in the...
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Financial Services Blog
Second Circuit: Secured Lender Not Entitled to a Make Whole Premium in “Cramdown” Restructuring, But May Be Entitled to Higher Interest Rate
October 31, 2017
On October 20, in Matter of M.P.M. Silicones, L.L.C. (“M.P.M. Silicones”), the United States Court of Appeals for the Second Circuit held that secured noteholders were not entitled to an approximately $200 million make-whole premium when...
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Financial Services Blog
SEC Advisory Committee To Discuss Implications of Blockchain for Securities Markets – No Action Imminent
October 2, 2017
Blockchain technology has made the agenda for the October 12, 2017 meeting of the SEC’s Investment Advisory Committee, the SEC announced on September 22, 2017. The Committee will be hosting a two-hour panel discussion among industry...
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