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Consumer Finance & Regulatory Compliance

Consumer financial services are one of the country’s most heavily regulated industries. Walter Haverfield’s team of experienced attorneys delivers the full spectrum of top-line legal services to lenders, loan servicers, banks, credit unions, and other financial institution clients in a range of complex matters related to banking compliance and regulation.

We counsel clients on the ever-growing grouping of federal and state statutes and regulations governing their products and services. Our deep bench experience gives us an industry-leading view of consumer finance and regulatory compliance as clients tackle challenges and address emerging risks.

Our Consumer Finance & Regulatory Compliance Difference

Walter Haverfield’s attorneys proactively collaborate with in-house legal departments, business units, and executives to form a deep understanding of operations, allowing us to assist internal legal counsel in protecting clients’ reputational and operational risks in the highly regulated financial services industry. We review compliance policies and procedures to identify risks at all levels, which is vital following the significant compliance issues arising from the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, created in response to the financial crisis of 2007-08.

We also provide regulatory and legislative advice to navigate and provide clarity to ever-changing and evolving laws, rules, and regulations impacting the day-to-day operations of banking and financial services on a real-time basis. With a blend of outside counsel, we consult clients on best practices for compliance, including the development of policies and procedures as well as an “audit trail” documenting compliance functions. Whether it’s implementing new technology into an existing platform or starting a compliance program from the beginning, Walter Haverfield’s innovative advisory and advocacy firm is here to help.

Contact

Benjamin D. Carnahan, Partner

216.658.6225
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Consumer Finance & Regulatory Compliance Team

Recognition

U.S. NEWS – BEST LAWYERS® 2022 “BEST LAW FIRMS” RANKINGS
  • Metropolitan Tier 1: Commercial Litigation
  • Metropolitan Tier 1: Real Estate Law
  • Metropolitan Tier 2: Banking and Finance Law
U.S. NEWS – BEST LAWYERS® 2021 “BEST LAW FIRMS” RANKINGS
  • Metropolitan Tier 1: Commercial Litigation
  • Metropolitan Tier 1: Real Estate Law
  • Metropolitan Tier 3: Banking and Finance Law
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Experience

  • Defending the nation’s largest banks, non-bank mortgage lenders, brokers, loan servicers, and sub-servicers in mortgage origination and consumer litigation under state and federal statutes, including but not limited to Ohio Consumer Sales Practices Act (OCSPA), Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), Home Affordable Modification Program (HAMP), Home Ownership and Equity Protection Act (HOEPA), Truth in Lending Act (TILA), and Real Estate Settlement Procedures Act (RESPA) in virtually all trial and appellate courts in Ohio
  • Serving as outside regional counsel managing consumer finance litigation on behalf of loan servicers and sub-servicers in multiple estates/jurisdictions
  • Advising in-house corporate counsel on litigation strategies, compliance issues, and rights and obligations under complex commercial contracts, including Housing and Urban Development (HUD), Fannie Mae, and Freddie Mac guidelines as well as rights and obligations under Pooling and Servicing Agreements (PSAs) relative to mortgage-backed securitized trusts
  • Compliance consultation regarding fintech integration of a third-party service provider into a national mortgage lender’s existing mobile loan origination platform
  • Consulting and defending a nationwide sub-servicer in investigations by the Ohio Attorney General and the Wisconsin Department of Financial Institutions
  • Successful representation of a national bank in the Ohio Supreme Court, garnering the attention of national media and ending the prosecution of out-of-state financial institutions via trials-in-absentia
  • Defending a national non-bank loan servicer in a consumer class action involving FDCPA and bankruptcy-related claims
  • Defending a national automobile warranty company in consumer class action Telephone Consumer Protection Act of 1991 (TCPA) claims
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