dcsimg Consumer Financial Services Litigation

Consumer Financial Services Litigation

McGuireWoods’ extensive experience in consumer financial services litigation makes it a leader in this practice area. Our diverse team of lawyers regularly handles both single-plaintiff and class action litigation in state and federal courts across the country. We also defend consumer financial services clients against civil investigation and enforcement proceedings brought by the Federal Trade Commission, state attorneys general, and other regulatory authorities. Our clients include banks, insurance companies, mortgage servicers, auto finance companies, credit card issuers, credit card marketers and servicers, telecom providers, check authorization companies, consumer reporting agencies, debt buyers, collection professionals, and retailers.

Our capabilities also extend to related areas of privacy, data security breach, consumer bankruptcy, counterclaims in foreclosure actions, enforcement of arbitration agreements, and general commercial litigation. McGuireWoods’ consumer financial services lawyers work closely with transactional and regulatory lawyers to provide consumer credit compliance advice, handle regulatory and governmental relations matters, assist in the securitization of receivables, the development of secured and unsecured credit products, and all other consumer credit-related matters.

Our lawyers have defended consumer financial services industry clients in actions asserting claims for violations of both state and federal consumer credit laws, including:

  • Truth in Lending Act
  • Consumer Leasing Act
  • Real Estate Settlement Procedures Act
  • Equal Credit Opportunity Act
  • Fair Debt Collection Practices Act
  • Fair Credit Reporting Act
  • Telephone Consumer Protection Act
  • Computer Fraud and Abuse Act
  • Credit CARD Act of 2009
  • Credit Repair Organizations Act
 
  • FTC Act
  • RICO
  • State interest and usury laws
  • State consumer protection and unfair trade practices laws, including Section 17200 claims
  • FTC holder rule and FTC regulations
  • Unauthorized practice of law claims
  • Fair and Accurate Credit Transactions Act

CONTACTS

David L. Hartsell Partner T: +1 312 750 8898 Email
Bryan A. Fratkin Partner T: +1 804 775 4352 Email
Results 1-9 of 9

RESULTS DEPEND ON A VARIETY OF FACTORS UNIQUE TO EACH CASE. PRIOR RESULTS DO NOT GUARANTEE OR PREDICT A SIMILAR OUTCOME.

Representative Matter

Successful defense of Fortune 200 financial institution in breach of contract MDL

Representation of a Fortune 200 financial institution in a breach of contract multi-district litigation relating to an interest rate increase on more than 30 million of its credit card accounts. The plaintiffs alleged breach of contract, breach of the implied duty of good faith and fair dealing, unjust enrichment, violations of the Truth in Lending Act (TLA), and more. With cases filed across the country, the matter was consolidated to the Northern District of Georgia. We prevailed on summary judgment on all claims, and the 11th Circuit affirmed on appeal.
Representative Matter

Novel consent arguments result in favorable class action settlement brought against auto finance company under TCPA

Favorably settled a putative class action brought under the Telephone Consumer Protection Act alleging that a leading auto finance company failed to obtain prior express consent before making automated calls to the cell phones of the references listed by the borrowers in their loan applications, raising novel issues regarding “consent by intermediary,” i.e., whether the references authorized the borrowers to provide their cell phone numbers.
Representative Matter

Voluntary dismissal of TCPA class action involving “one-click” dialing

Secured the voluntary dismissal of a putative TCPA class action against a market research company after convincing plaintiff’s counsel through informal discovery that the cell phone calls at issue were not placed by an ATDS.
Representative Matter

U.S. regional federal banks and national banking associations (N.A.’s)

Successful dismissal of scores of foreclosure challenge lawsuits arising from the U.S. foreclosure crisis in both federal and state courts. Our representations in these suits helped shape the legal landscape for real estate foreclosures in the Commonwealth of Virginia.
Representative Matter

Fortune 100 financial institution

Representation of a Fortune 100 financial institution when a group of more than 40 plaintiffs sued the entities that originated their mortgages, seeking rescission of those mortgages. Plaintiffs advanced a novel claim challenging the sale or transfer of servicing rights premised on the argument that when they entered into their mortgages, they did not know that the servicing rights to those mortgages could be sold to other entities. Defendants pointed to the numerous documents that the plaintiffs signed during the mortgage process, which clearly indicated the servicing rights to their mortgages could be sold or transferred. The district court dismissed the claims with prejudice and without leave to amend. The plaintiffs appealed arguing that they plausibly stated a claim for rescission. The Tenth Circuit agreed and found that the plaintiffs had failed to state a plausible claim.
Representative Matter

Fortune 100 financial institution

Secured dismissal of a Fortune 100 financial institution from a highly complex, high stakes litigation with national consequences for all national banks and their authority to exercise fiduciary powers.
Representative Matter

Fortune 100 financial institution

Borrowers sought to vacate a final judgment of foreclosure that favored our client, a Fortune 100 financial institution, on the grounds of excusable neglect. The case went upon appeal to the Florida Third District Court of Appeals. We received a per curium affirmance in favor of our client following oral argument.
Representative Matter

Favorable settlement of TCPA claims and dismissal of email claims against software company

Favorably resolved a putative nationwide class action against a software company alleging that the company’s telemarketing and email marketing practices violated the TCPA and the Illinois E-Mail Act. The court granted a motion to dismiss the email claims based on federal preemption and the parties reached a class-wide settlement on the TCPA claims well below the client’s potential exposure.
Representative Matter

Fortune 100 financial services company

Representation of a Fortune 100 financial services company against allegations of lending discrimination based on national origin on $12 million loan. The plaintiffs filed multiple law suits, asserting numerous theories of recovery, including a case of first impression regarding the manipulation of LIBOR rates and its effect on credit swap agreements. McGuireWoods obtained judgment in each of the 5 cases.
Results 1-9 of 9
Results 1-25 of 57
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Amanda Abshire Amanda West Abshire
Associate
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146
Email
T: +1 704 343 2196
F: +1 704 444 8764
vCard
Tammy L Adkins Tammy L. Adkins
Counsel
77 West Wacker Drive
Suite 4100
Chicago, IL 60601-1818
Email
T: +1 312 750 5727
F: +1 312 920 6193
vCard
Helen Arnold Helen D. Arnold
Associate
77 West Wacker Drive
Suite 4100
Chicago, IL 60601-1818
Email
T: +1 312 849 8286
F: +1 312 698 4595
vCard
Patricia Bates Patricia L. Bates
Associate
1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106
Email
T: +1 212 548 2164
F: +1 212 715 6261
vCard
Andy Bernardini Andrew N. Bernardini
Attorney
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146
Email
T: +1 704 373 4616
F: +1 704 373 8824
vCard
Sarah B Boehm Sarah B. Boehm
Counsel
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916
Email
T: +1 804 775 7487
F: +1 804 698 2255
vCard
Kathryn M Moses Kathryn M. Caimi
Associate
1750 Tysons Boulevard
Suite 1800
Tysons, VA 22102-4215
Email
T: +1 703 712 5033
F: +1 703 712 5050
vCard
Brian Calub Brian A. Calub
Attorney
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146
Email
T: +1 704 343 2009
F: +1 704 373 8842
vCard
Phillip Chang Phillip C. Chang
Associate
2001 K Street N.W.
Suite 400
Washington, DC 20006-1040
Email
T: +1 202 857 1725
F: +1 202 828 2995
vCard
Stewart Clancy D. Stewart Clancy
Partner
2000 McKinney Avenue
Suite 1400
Dallas, TX 75201
Email
T: +1 214 932 6441
F: +1 214 273 7486
vCard
Randall Clark Randall B. Clark
Attorney
JPMorgan Chase Tower
600 Travis Street
Suite 7500
Houston, TX 77002-2906
Email
T: +1 832 214 9946
F: +1 832 255 6371
vCard
Laura E Coombe Laura E. Coombe
Associate
1800 Century Park East
8th Floor
Los Angeles, CA 90067-1501
Email
T: +1 310 315 8274
F: +1 310 315 8210
vCard
Kathleen H Dooley Kathleen H. Dooley
Partner
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146
Email
T: +1 704 343 2347
F: +1 704 444 8755
vCard
R. Patrick Dover R. Patrick Dover
Associate
Bank of America Tower
50 North Laura Street
Suite 3300
Jacksonville, FL 32202-3661
Email
T: +1 904 798 3235
F: +1 904 360 6329
vCard
Marissa Dubey Marissa R. Dubey
Attorney
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146
Email
T: +1 704 343 2078
F: +1 704 373 8853
vCard
Gloriola Duli Glordiola Duli
Trainee Solicitor
11 Pilgrim Street
London EC4V 6RN
United Kingdom
Email
T: +44 20 7632 1654
F: +44 20 7632 1638
vCard
Matthew D. Durham
Attorney
2000 McKinney Avenue
Suite 1400
Dallas, TX 75201
Email
T: +1 214 932 6488
F: +1 214 273 7480
vCard
Jessica D Fegan Jessica D. Fegan
Associate
2001 K Street N.W.
Suite 400
Washington, DC 20006-1040
Email
T: +1 202 857 1728
F: +1 202 828 3328
vCard
Shawn R Fox Shawn R. Fox
Senior Counsel
1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106
Email
T: +1 212 548 2165
F: +1 212 548 2150
vCard
Bryan A Fratkin Bryan A. Fratkin
Partner
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916
Email
T: +1 804 775 4352
F: +1 804 698 2100
vCard
Ryan D Frei Ryan D. Frei
Partner
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916
Email
T: +1 804 775 1134
F: +1 804 698 2168
vCard
Andrew Fulwider Andrew J. Fulwider
Associate
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916
Email
T: +1 804 775 7496
F: +1 804 698 2187
vCard
Alexander J. Gershen
Associate
505 Sansome Street
Suite 700
San Francisco, CA 94111
Email
T: +1 415 844 1976
F: +1 415 844 1919
vCard
Mary Grob Mary K. Grob
Associate
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146
Email
T: +1 704 343 2274
F: +1 704 353 6204
vCard
Susan E Groh Susan E. Groh
Associate
77 West Wacker Drive
Suite 4100
Chicago, IL 60601-1818
Email
T: +1 312 849 8184
F: +1 312 698 4594
vCard
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Results 1-20 of 45
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Legal Alert

CFPB Announces Plan to Promulgate Key Mortgage Disclosure Rule

Subject to Inquiry
May 16, 2016
Legal Alert

CFPB’s First-Ever Data Security Enforcement Action

Subject to Inquiry
March 17, 2016
Legal Alert

CFPB Announces Two-Year Policy Priorities

March 15, 2016
Legal Alert

CFPB Still Pushing to Regulate Payday Lenders

Subject to Inquiry
March 8, 2016
Legal Alert

CFPB Takes Aim at Overdraft Fees and Screening Inaccuracies

Subject to Inquiry
February 23, 2016
Legal Alert

Proposed Amendments to Fair Credit Reporting Act

February 19, 2016
Legal Alert

FAST Act Drives Long-Awaited Gramm-Leach-Bliley Amendment

Subject to Inquiry, Password Protected
January 15, 2016
Legal Alert

The House Has Voted: Auto Lenders Prevail Over CFPB

Subject to Inquiry
December 7, 2015
Legal Alert

Challenge to CFPB’s Auto Lending Guidance

Subject to Inquiry
November 19, 2015
Legal Alert

CFPB Takes Action Under FCRA Against Employment Background Check Providers

Subject to Inquiry
November 11, 2015
Results 1-20 of 45