Blank Rome LLP is a prominent law firm with a robust consumer finance practice. They advise and represent a diverse clientele, including banks, mortgage servicers, fintech companies, debt collectors, and other financial institutions, navigating the complex and ever-evolving landscape of consumer finance law. Their expertise spans a wide range of regulatory and litigation matters, providing comprehensive legal solutions to help clients mitigate risk, ensure compliance, and achieve their business objectives.
A significant aspect of Blank Rome’s consumer finance practice lies in regulatory compliance. They assist clients in understanding and adhering to a myriad of federal and state laws and regulations governing consumer lending, debt collection, and credit reporting. This includes navigating the intricacies of the Truth in Lending Act (TILA), the Real Estate Settlement Procedures Act (RESPA), the Fair Credit Reporting Act (FCRA), the Fair Debt Collection Practices Act (FDCPA), and the Dodd-Frank Wall Street Reform and Consumer Protection Act. They advise on matters such as advertising compliance, disclosures, servicing requirements, and the implementation of effective compliance management systems.
The firm’s attorneys also possess deep experience in defending clients in consumer finance litigation. They represent financial institutions in individual and class action lawsuits alleging violations of consumer protection laws. This includes defending against claims related to improper loan servicing, deceptive lending practices, inaccurate credit reporting, and unlawful debt collection tactics. Blank Rome’s litigation team is skilled at developing effective defense strategies, conducting thorough investigations, and representing clients in court and arbitration proceedings. They are adept at handling complex, multi-jurisdictional litigation and navigating the nuances of various state and federal court systems.
Beyond litigation and regulatory compliance, Blank Rome’s consumer finance practice provides counsel on transactional matters, including the structuring and documentation of consumer loan products, the purchase and sale of loan portfolios, and the development of new financial technologies. They advise clients on the legal and regulatory implications of offering innovative financial products and services, helping them to navigate the challenges and opportunities presented by the rapidly evolving fintech landscape. This proactive approach allows clients to stay ahead of the curve and ensure that their business practices are compliant with applicable laws and regulations.
Blank Rome distinguishes itself through its deep industry knowledge, experienced team of attorneys, and commitment to providing practical and business-oriented legal advice. They understand the challenges and opportunities facing financial institutions in the consumer finance space and are dedicated to helping their clients navigate the complexities of the legal and regulatory environment. By combining legal expertise with a practical understanding of the industry, Blank Rome offers valuable counsel to help clients achieve their business goals while maintaining compliance and mitigating risk in the constantly changing world of consumer finance.