Consumer Financial Services Litigation

Consumer financial services companies face a broad spectrum of issues unique to the industry, and you need counsel that understands the challenges the industry faces. With one of the most preeminent consumer financial services litigation practice groups in the nation, our lawyers know your industry. With experience in regulatory counseling and examinations, government investigations, enforcement proceedings, and litigation, we defend many of the nation’s largest financial institutions, including prominent banks, mortgage companies, credit card issuers, and insurers, in high-stakes consumer financial services litigation cases.

Litigation

We specialize in the defense of class actions and government investigations and enforcement actions against financial institutions in the consumer financial services industry. Our practice is national, having handled matters in nearly all 50 states, before numerous federal and state appellate courts, and before the United States Supreme Court. We have a team of industry specialists in offices in Washington, California, New York and Boston that have defended over 200 nationwide or statewide putative class actions, and five multidistrict proceedings, in the last five years.

Many of the suits we defend present groundbreaking issues with industry-wide impact. This includes recent victories on behalf of our clients in putative class actions in the fields of mortgage loan pricing and origination practices, fair lending, mortgage servicing and loan modification, default servicing and consumer bankruptcy, lender-placed insurance, and captive reinsurance arrangements.

We regularly represent financial services institutions in defending matters arising under the full range of laws and regulations affecting the consumer finance industry, including claims under federal and state consumer credit laws (such as the Truth-in-Lending Act, Fair Credit Reporting Act, Real Estate Settlement Procedures Act, Fair Housing Act, Equal Credit Opportunity Act, and Fair Debt Collection Practices Act); fair and responsible lending claims and investigations; challenges to loan servicing and practices involving consumers in bankruptcy; federal and state UDAP claims; federal preemption; credit card products; add-on credit products; and credit disclosure claims.

We also defend our clients in lawsuits brought by state Attorneys General, counties and municipalities throughout the country. We regularly defend individual consumer litigation that poses issues that may have wider precedent, including coordinating the response to a series of cases brought in many courts throughout the country that, collectively, present a significant challenge to our client.

Enforcement

We have substantial experience representing banks, non-bank lenders and servicers, student loan companies, debt collectors, non-traditional finance companies, and other market participants in responding to government investigations, defending enforcement actions, and managing administrative, criminal, and private proceedings. Our practice is nationwide in scope, and includes matters involving many different federal and state agencies and officials, including the Consumer Financial Protection Bureau, the Department of Justice, the Federal Trade Commission, the Department of Housing and Urban Development, federal and state banking regulatory agencies, offices of inspector general for various federal agencies, and state attorneys general.

Litigation Avoidance

We do more than litigate. In anticipation of potential litigation, we assist clients with internal investigations, responding to pre-suit or civil investigative demands, developing internal company procedures, and advocating to government agencies regarding potential suits against our clients. Our trial lawyers work closely with financial services attorneys in all of our offices, to provide a comprehensive breadth of knowledge as to both business practices and litigation issues to assist clients in avoiding future risks and minimizing existing exposure.

Chambers USA

Ranked as one of the top firms in the country, Chambers USA notes our “longstanding reputation as an exceptionally strong consumer finance litigation firm.”
Legal 500

Ranked as a Top 5 Consumer Finance Litigation firm.

To be successful, consumer financial services companies strive to offer new and innovative products and services through traditional and online channels. Banks and thrifts, mortgage companies, consumer lenders, credit card issuers, payments networks, auto lenders, technology companies and leasing entities regularly turn to Goodwin for counsel. We provide regulatory advice involving the development of new products, assist with the chartering and licensing of new financial services companies, draft compliance policies and procedures, conduct compliance reviews, and counsel on privacy and cybersecurity matters. Our attorneys regularly represent consumer financial services companies and trade associations — including the Electronic Funds Transfer Association and the

For many consumer finance businesses, government investigations and enforcement actions are an unfortunate reality in today’s world, and you need a partner that will help you manage the risks associated with such matters. Goodwin has substantial experience representing banks, non-bank lenders and servicers, student loan companies, credit card issuers, auto finance companies, debt collectors, non-traditional finance companies, and other market participants in responding to government investigations, defending enforcement actions, and managing administrative, criminal, and private proceedings.

Accusations that a financial services company’s policies or practices are discriminatory or otherwise unfair, deceptive, or abusive can not only be costly, but also can damage a company’s reputation. Goodwin’s leading Fair & Responsible Lending practice has experience helping clients confront and manage these risks. Our practice is nationwide in scope, including matters involving many federal and state agencies and officials.

From acquiring a company to raising public or private funds, we provide strategic and tactical advice, a range of pragmatic options, and bottom-line results. We do more than just help our clients survive the current challenges; we partner with them to find the best solutions and identify new business opportunities.