Blank Rome Consumer Finance

Blank Rome LLP boasts a robust Consumer Finance practice group, providing comprehensive legal services to a diverse clientele within the heavily regulated consumer finance industry. Their practice navigates the complex landscape of federal and state laws impacting lenders, servicers, investors, and other stakeholders.

The firm’s expertise covers a broad spectrum of consumer finance activities. This includes advising clients on compliance with key regulations such as the Truth in Lending Act (TILA), the Real Estate Settlement Procedures Act (RESPA), the Fair Credit Reporting Act (FCRA), the Equal Credit Opportunity Act (ECOA), and the Dodd-Frank Wall Street Reform and Consumer Protection Act. They assist in developing and implementing compliant policies and procedures, ensuring clients operate within the bounds of applicable laws.

Blank Rome’s attorneys are adept at handling regulatory enforcement actions and investigations initiated by agencies like the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), and state attorneys general. They represent clients in examinations, investigations, and enforcement proceedings, defending their interests and mitigating potential liabilities. This involves conducting internal investigations, responding to subpoenas and document requests, negotiating settlements, and litigating when necessary.

Litigation forms a significant part of their practice. They defend clients in individual and class action lawsuits alleging violations of consumer finance laws. These cases often involve claims of unfair lending practices, deceptive marketing, improper debt collection, and inaccurate credit reporting. Blank Rome’s litigators possess extensive experience in handling these complex matters in both federal and state courts.

The firm provides strategic advice on the development and implementation of new products and services in the consumer finance space. This includes assisting with the structuring and documentation of loan products, ensuring compliance with advertising regulations, and advising on the implications of emerging technologies. They also counsel clients on mergers and acquisitions, securitizations, and other transactions involving consumer finance assets.

Blank Rome distinguishes itself through its deep understanding of the consumer finance industry, coupled with its commitment to providing practical and effective legal solutions. Their lawyers possess specialized knowledge in various sectors, including mortgage lending, auto finance, student lending, and credit cards. This allows them to tailor their advice to the specific needs of each client.

Furthermore, Blank Rome’s Consumer Finance practice actively monitors legislative and regulatory developments, keeping clients informed of changes that may impact their businesses. They regularly publish articles, speak at industry conferences, and participate in regulatory comment periods to advocate for their clients’ interests. This proactive approach helps clients anticipate challenges and adapt to the evolving regulatory environment.

In conclusion, Blank Rome’s Consumer Finance practice provides a comprehensive suite of legal services, assisting clients in navigating the complexities of the industry, mitigating risks, and achieving their business objectives.