For nearly 150 years our firm has refined the talent and tools needed to deliver effective results for even the largest, most complicated litigation portfolios but adaptable enough to identify and address risk on an individual case level.
That’s why numerous leading financial institutions turned to us to manage their consumer lending litigation portfolios following the 2008 financial crisis, including multi-jurisdictional loan portfolios experiencing serial defaults and giving rise to expansive litigation. This work includes consumer debt, asset recovery and creditor’s rights disputes.
We provide services in the Consumer Finance sector in multiple ways. Some examples of these services are as follows:
Regulatory – Womble Bond Dickinson works with clients on addressing federal and state regulatory matters arising from a variety of issues including compliance with state consumer lending laws, policies and procedures, or consumer complaints. In this area, Womble Bond Dickinson attorneys work with, or handle matters before, a bevy of federal and state agencies, including the CFPB, the FCC, the Department of Justice, state attorney generals, state departments of finance and/or consumer affairs.
Litigation – In state and federal courts, on individual claims and in class action lawsuits, Womble Bond Dickinson attorneys defend claims asserted by consumers against banks, finance companies, small dollar lenders, non-traditional credit providers, technology vendors, financial investors, insurance companies and other financial service providers arising out of all aspects of consumer loan transactions, including claims arising out of consumer loan origination and servicing efforts.
Some examples of consumer claims Womble Bond Dickinson handles for its clients are:
Origination-Based Lender Liability Claims
- Unfair and deceptive trade practices
- RICO, civil conspiracy, and facilitation of fraud
- Predatory lending, ECOA violations
- Underwriting policies and practices
- Usury claims
Servicing-Based Lender Liability Claims
- FCRA and FACTA
- Loan modification and loss mitigation practices
- Credit and tax reporting practices
- Violations of state consumer protection laws