Financial Services Industry

Consumer Financial Services

Services

Bankruptcy

We represent creditors in a variety of consumer bankruptcy issues.

  • Advising on bankruptcy rule compliance.
  • Assessment of bankruptcy servicing platforms.
  • Coordinating with U.S. Trustee’s Office and Chapter 13 Trustees.
  • Assessing and enhancing compliance and quality assurance test scripts.
  • Establishing a system to identify new local bankruptcy rules and changes to existing local bankruptcy rules.
  • Providing insight into areas of emerging risk.
  • Addressing issues and providing gap analysis.
  • Conducting and developing client training.

Default Servicing

We routinely counsel creditors through the day-to-day servicing of loans in default.

  • Creating 50 state grids for specific legal issues.
  • Interpreting CFPB guidance and rules.
  • Providing on-going support to legal and compliance departments.
  • Developing vendor management checklists and gridcards.
  • Providing gap analysis.

Foreclosure/Loss Mitigation

We support financial institutions’ foreclosure and loss mitigation lines of business, legal, compliance and audit departments.

  • Reviewing rule compliance.
  • Reviewing mortgage servicing rules.
  • Addressing issues and providing gap analysis.
  • Developing state law grids.
  • Coordinating with State Attorneys General.

Collections

We provide significant value to companies in the financial services industry, including banks and collections agencies, with the implementation and operation of collections practices.

  • Reviewing compliance with Fair Debt Collection Practices Act and state debt collection laws.
  • Interpreting CFPB rules and regulations.
  • Reviewing Telephone Consumer Protection Act compliance.
  • Reviewing Servicemembers Civil Relief Act compliance.
  • Developing state collections law grids.
  • Reviewing Fair Credit Reporting Act compliance.
  • Providing advice regarding garnishments/levys.
  • Collecting secured and unsecured products (including auto).

Change Management

We represent clients through the implementation of regulatory and legal changes to processes and systems.

  • Reviewing and enhancing third-party risk programs for servicing law firms.
  • Creating, reviewing and revising policies and procedures.
  • Assisting in the remediation of known problem issues.
  • Identifying legal changes and providing strategic advice.
  • Providing industry perspective on change processes.

Exam Preparation

Our team has extensive experience preparing financial institutions for regulatory examinations, including those of the OCC, CFPB and FDIC.

  • Reviewing and revising vendor management practices.
  • Providing counsel to business line support staff.
  • Reviewing operational practices.
  • Assisting in identifying legal, regulatory, operational, and reputational risks.