Providers of consumer credit face heightened scrutiny from government regulators and consumer advocates, with the risk of stiff enforcement penalties and reputational damage from accusations of discriminatory lending practices.
Our Fair Lending team is devoted to helping consumer financial services providers navigate the complex compliance landscape regarding fair lending issues, including claims involving the use of alternative data and machine learning models, discretionary pricing, targeted advertising, judgmental underwriting and overrides, redlining, foreclosure, loss mitigation, modification and other servicing practices. We cover the full range of issues arising out of the Equal Credit Opportunity Act (ECOA), the Fair Housing Act (FHA), U.S. Department of Housing and Urban Development regulations, state and local fair lending and anti-discrimination laws. Our national team includes attorneys with significant experience defending fair lending enforcement investigations by the CFPB, DOJ, the federal banking regulators, HUD and state attorneys general, as well as fair lending-focused examinations by the CFPB, OCC, FDIC and New York Department of Financial Services. We also have a wealth of regulatory compliance and litigation experience and skillset to provide clients with practical and focused advice on all aspects of fair lending, serving as general outside fair lending counsel for many of our clients.
We closely monitor regulatory developments, court rulings, complaint filings, consumer advocacy group statements, and other trends on fair lending to help clients anticipate emerging risks and take the necessary steps to reduce their exposure. We conduct in-depth assessments of each client's risk, and are well-prepared to defend them in examinations, investigations and litigation.
Twice recognized by Law360 as a Consumer Protection "Practice Group of the Year," our team's services include:
Consumer Financial Services Law Monitor
05.20.24
CFPB Files Lawsuit Against SoLo Funds for Alleged Deceptive Lending Practices
Consumer Financial Services Law Monitor
02.06.24
A Closer Look at NCUA’s Consumer Financial Protection and Compliance Expectations
Consumer Financial Services Law Monitor
01.17.24
Sales-Based Financing Trade Group Files Suit Challenging CFPB’s Section 1071 Rule
Consumer Financial Services Law Monitor
01.12.24
Senate Fails to Override President Biden’s Veto of Joint Resolution to Overturn CFPB’s Section 1071 Final Rule
Consumer Financial Services Law Monitor
01.09.24
FTC and Connecticut AG File Suit Against Auto Dealer over Alleged “Junk Fees”
Consumer Financial Services Law Monitor
12.20.23
CFPB Report Highlights Consumer Experiences with Overdraft and NSF Fees