Blank Rome LLP

Blank Rome’s consumer financial services industry team is comprised of a multi-disciplinary group of business, regulatory and litigation lawyers spanning the Firm’s geographic footprint.  Their collective related experience is in the areas of regulatory compliance, financial services and commercial litigation, bankruptcy, and white collar criminal defense/government investigations.

Members of the consumer financial services team are admitted to practice in the following jurisdictions:  California, Connecticut, Delaware, Florida, Kentucky, Maryland, New Jersey, New York, Ohio, Pennsylvania, Texas, Virginia and Washington, D.C.

Regulatory Compliance

We work closely with clients to develop strategic policies, plans, and procedures to comply with, and respond to, rapidly-changing federal and state regulations. We counsel mortgage lenders and servicers on a national basis in connection with consumer financial services issues relating to loan origination and servicing. Our lawyers are particularly and extensively experienced in advising clients on internal policies and procedures with the goal of avoiding future regulatory compliance and litigation risks.

Statutory Compliance Programs

To further assist our clients, we have developed novel programs to assist mortgage lenders and servicers in responding to pre-litigation issues raised by borrowers and regulatory agencies. In particular, these programs address highly risk-sensitive response issues relating to recession demands under the Truth In Lending Act (TILA) and Qualified Written Requests under the Real Estate Settlement Procedures Act (RESPA).

Litigation

Our litigators have successfully defended national and regional consumer lending and servicing clients in individual and class action lawsuits in numerous state and federal courts, including bankruptcy proceedings. We have a track record of successfully representing lenders and servicers in litigations containing claims related to:

• Predatory Lending Practices
• Truth in Lending Act (TILA)
• Equal Credit Opportunity Act (ECOA)
• Home Ownership and Equity Protection Act Amendments (HOEPA)
• Real Estate Settlement Procedures Act (RESPA)
• Home Mortgage Disclosure Act (HMDA)
• Fair  Credit Reporting Act (FCRA)
• Fair Debt Collection Practices Act (FDCPA)
• Unfair and Deceptive Acts and Practices (UDAP)
• Fair and Accurate Credit Transactions Act (FACTA)
• Credit Repair Organizations Act (CROA)
• Consumer Fraud
• Failure to Comply with Loan Modification Programs

Regulatory Complaints and Government Investigations

Our lawyers regularly assist clients in responding to complaints filed by and with federal and state regulatory agencies throughout the United States. Additionally, we counsel clients in regard to inquiries and investigations by government agencies, and we conduct internal investigations to strategically assist in the process.

Transactional Experience

We solve our client’s problems that arise in the relationships among mortgage and installment credit lenders, brokers, and investors. We have assisted clients in numerous merger and acquisition and portfolio sale transactions in the mortgage and other consumer finance industries. From both legal and business viewpoints, we have experience in evaluating, structuring, and documenting consumer credit products and services, including first and second mortgage loans, home equity credit, credit card and revolving loans, consumer leases, personal installment loans, student loans, retail lending, motor vehicle loans and leases, and other retail installment sale programs.

Additional Industry Services

We also provide advice on state licensing; compliance examinations; federal and state interest rate and usury law; FHA, GNMA, FNMA and FHLMC programs; holding company and multi-state banking and lending problems; and related consumer financial services statutes, regulations, and issues.  Additionally, we provide counsel on the Gramm-Leach-Bliley Act and other federal and state privacy laws, regulations, and directives.