Consumer Financial Services Compliance and Litigation

Overview

At Smith Debnam, our Consumer Financial Services Litigation and Compliance unit brings a wealth of experience to the consumer financial services sector, both in litigation and compliance matters. With an interdisciplinary approach led by recognized thought leaders from across the consumer financial services spectrum, our attorneys advise on regulatory matters, counsel in the design and documentation of credit products, and defend the collection and credit industries in state and federal litigation, as well as regulatory matters.

At Smith Debnam, we believe the best way to represent you is to know your industry and to understand your business. You can count on us to anticipate how changes in legislation can impact your business and bottom line. In addition, our attorneys are active in a number of trade organizations including:

• ACA International
• AFSA
• NARCA
• Consumer Financial Services Subcommittee of the American Bar Association
• North Carolina Bankers Association
• South Carolina Bankers Association
• Mortgage Bankers Association (Carolinas)
• North Carolina Creditors Bar Association.

Auto and Equipment Finance Industry

Our team regularly defends the auto and equipment finance industry in matters involving state law claims, such as wrongful repossession, UDAAP claims, debt collection claims, intentional torts and contract claims, as well as federal claims alleging violations of the Telephone Consumer Protection Act, Fair Credit Reporting Act, Truth in Lending Act, Equal Credit Opportunity Act, and Consumer Leasing Act. We provide contract review, letter audits, and general compliance services to financial institutions, captive finance companies, and subprime finance companies to ensure compliance with the UCC and various consumer protection statutes.

Banking and Credit Card Industry

We defend financial institutions on an array of issues, including debt collection, credit reporting and mortgage servicing, Truth in Lending Act, Equal Credit Opportunity Act, and UDAAP. We provide contract review and general compliance services to the industry to ensure compliance with various consumer protection statutes including the Fair Credit Reporting Act, Truth in Lending Act, Telephone Consumer Protection Act, Mortgage Servicing Rules, and state and federal debt collection statutes.

Debt Collectors and Debt Buyers

We defend the debt collection industry in both federal and state courts on a host of issues involving state and federal debt collection statutes, the Fair Credit Reporting Act, and the Telephone Consumer Protection Act. We regularly advise collection agencies and debt buyers regarding their compliance with a wide variety of consumer protection statutes. We provide letter audit services and assist our clients in the construction of policies and procedures to meet their growing regulatory burden.