Consumer Financial Services

In this economy, almost every industry participates to some extent in collecting, sharing and using consumer financial and personal data. If your business deals specifically with consumer information, you know how difficult it can be to navigate the legal and regulatory waters of consumer financial protection laws. Since Congress created the Consumer Financial Protection Bureau (CFPB) in 2010, those laws and regulations have only become more complex and the chances of litigation related to consumer information have only increased.

Our Consumer Financial Services Practice Group assists clients nationwide with maintenance of robust Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA) and Telephone Consumer Protection Act (TCPA) compliance programs, helps them work constructively with federal regulatory agencies, guides them through investigations and examinations conducted by the CFPB and Federal Trade Commission, and defends them in high-stakes class action litigation when disputes arise.

We represent consumer reporting agencies in government investigations, class action litigation and individual cases up through jury trial. We counsel furnishers of consumer data in a variety of industries about their obligations under the FCRA and represent them in federal regulatory investigations and litigation. We regularly advise clients in contracts and business relationships that involve consumer data sharing.

We have assisted clients with alleged violations of the FCRA, FDCPA, TCPA, state consumer protection acts and additional related legislation. These engagements have involved potential financial exposure reaching into the hundreds of millions of dollars and potential class sizes up to one million members.

We provide legal counsel on the following nationwide topics related to financial services and consumers:

  • Consumer credit
  • Debt collection policies and procedures
  • Telephone consumer protection
  • Privacy policies and practices
  • Cyber responsibility, data security and breach responses
  • Insurance coverage
  • Director and officer duties and responsibilities
  • Compliance and risk officer functions
  • Employer rights and responsibilities
  • Obtained summary judgment on behalf of EdFinancial Services, a student loan service provider, against a Fair Credit Reporting Act lawsuit filed in federal court in the Eastern District of Wisconsin.

    We obtained summary judgment on behalf of EdFinancial Services, a student loan service provider, against a Fair Credit Reporting Act...
    Read More
    Client Type: Private Company
  • Represented TRS Recovery Services against a complaint filed by the Illinois Department of Financial and Professional Regulation

    The Illinois Department of Financial and Professional Regulation filed a complaint against our client, TRS Recovery Services, putting in jeopardy...
    Read More
    Client Type: Private Company
  • Coordinated Telecheck’s follow-up responses to the civil investigative demand by the FTC

    The Federal Trade Commission (FTC) opened an investigation into potential violations of the Fair Credit Reporting Act (FCRA) by TeleCheck...
    Read More
    Client Type: Private Company
  • Represented client in an investigation conducted by the CFPB into potential violations of the FCRA

    We represented our client, a third-party loan servicer managing a portfolio of several billion dollars' worth of loans nationwide, in...
    Read More
    Client Type: Private Company
  • Defended eFunds against a class action lawsuit that alleged willful violations of the FCRA

    Bass, Berry & Sims defended eFunds, an entity acquired by FIS, against a class action lawsuit filed in federal court...
    Read More
    Client Type: Public Company
Elaina S. Al-Nimri
Associate
J. Taylor Chenery
Member
Robert E. Cooper, Jr.
Member
Wallace W. Dietz
Member
Margaret Dodson
Associate
David R. Esquivel
Member
Anthony J. McFarland
Member
Michael J.  Rivera
Member
Jeffrey P. Yarbro
Counsel