Consumer Financial Services Managing Change

The consumer financial services industry is undergoing a seismic shift, adopting new business models and integrating new technologies. With unparalleled breadth of expertise – and industry experience – Kilpatrick’s team of consumer financial services attorneys helps a wide range of industry players meet their business objectives. Our financial services clients engage us to advise them on compliance with federal and state regulations pertaining to a wide range of consumer finance issues, including fair lending, credit reporting, consent and disclosure requirements, debt collection, usury and fee restrictions, privacy and data security, unfair and deceptive acts and practices laws, licensing requirements, and payments-related matters. Our related fintech practice provides guidance on such topics to clients in the fintech sector.

Reach

Industry Insiders

We work with banks, non-bank lenders, loan servicers, payment processors, fintech companies, credit reporting and monitoring agencies, online lending and peer-to-peer lending services, and other consumer financial services providers. Our clients range from startups to mature public corporations as well as private equity and venture investors. We provide guidance on the regulatory and operational aspects of the full scope of consumer credit products, such as secured and unsecured loans, credit and debit cards, student and auto loans, payments processing, money transmission, retail installment, and fintech/ecommerce products. We have a reputation for crafting practical solutions to problems proactively, and helping our clients navigate the regulatory maze efficiently.

Approach

A Smoother Path

We provide advice and counseling on a wide range of issues facing the consumer financial services sector, and our team has extensive experience advising on the evolving laws and regulations that impact this industry, including:

• Truth in Lending Act
• Fair Credit Reporting Act
• Fair Debt Collection Practices Act
• Equal Credit Opportunity Act
• Electronic Fund Transfer Act
• Credit Card Accountability Responsibility and Disclosure Act
• Bank Secrecy Act / Anti-Money Laundering
• UDAAP laws
• Licensing laws

We also represent clients in dealings with the major regulatory agencies, including:

• Consumer Financial Protection Bureau
• Office of the Comptroller of the Currency
• Federal Deposit Insurance Corporation
• Federal Reserve Board
• State Banking Regulators
• Federal Trade Commission
• Financial Crimes Enforcement Network

To view the Consumer Financial Services Blog click here.