Kaufman Dolowich provides nationwide representation to a wide range of consumer financial services providers, from large banking institutions to broker-dealers, mortgage lenders, data furnishers, consumer reporting agencies, debt collectors, and law firms. We guide our clients through the ever-changing regulatory landscape that defines the financial services industry and we operate a broad practice, advising clients on regulatory compliance and advocating on their behalf in defense litigation.
At Kaufman Dolowich, our consumer financial services group is comprised of a diverse set of industry-leading attorneys: renowned litigators, former regulators, and in-house lawyers who have decades of experience handling high-end matters within the financial services industry. Our team is empowered and prepared to respond to the changing needs of our client-base.
Regulatory Compliance Counseling
In the consumer financial services industry, the regulatory environment is ever-evolving. Rapid changes in the regulatory framework and the practical enforcement of the law (through government-agency-driven inquiries and disciplinary proceedings) demand representation that is truly dynamic. Kaufman Dolowich brings together attorneys who have represented leading financial firms and institutions worldwide and have effectively counseled such clients through the multi-layered challenges associated with regulatory inquiries, investigations and comprehensive internal compliance reviews. Quite simply: Our attorneys are well-positioned in major commercial centers throughout the United States to engage with regulators on behalf of our consumer financial services clients.
Our consumer financial services practice group routinely assists clients in evaluating their products, policies and procedures and determining whether there has been (or could potentially be) a violation of applicable financial regulations. From the Fair Debt Collection Practices Act to the Telephone Consumer Protection Act and from the Fair Credit Reporting Act to the Electronic Funds Transfer Act, no federal or state consumer statute is outside our expertise.
We provide end-to-end strategic counsel in the regulatory context, working with clients to develop and implement practical, cost-effective compliance programs that satisfy their need for solid regulatory compliance and that ultimately secure their business interests. Following implementation, we monitor compliance to ensure that the policies and procedures are adequately enforced.
Regulatory Inquiries and Enforcement Actions
Given the extensive regulations surrounding consumer financial services and the inherent challenge in maintaining perfect compliance, businesses operating in the consumer financial services context will almost certainly come into contact with government regulators. As such, these relationships are important to cultivate and manage so as to ensure a favorable engagement.
Regulatory actions generally begin with inquiries and may end with disciplinary proceedings and sanctions, depending on the nature of the purported violation and the determination made by investigative authorities.
With respect to regulatory actions, Kaufman Dolowich assists clients with:
- Handling letters of inquiry
- Responding to subpoenas
- Navigating examination processes
- Litigating disciplinary proceedings
- Negotiating settlements
- Conducting audits
Kaufman Dolowich’s legal team counsels and defends consumer financial services clients during inquiries and enforcement actions initiated by a range of government regulators, including the Federal Trade Commission, the Consumer Financial Protection Bureau, various State Attorneys General, the Federal Reserve Board, the Securities & Exchange Commission, State financial regulators and many other authorities. We understand how regulators “think” and counsel our clients at every stage of the inquiry and enforcement process to ensure that the expectations of regulatory authorities are met.
In helping our clients navigate the complexities and difficulties of the inquiry/enforcement process conducted by regulatory authorities, we are committed to advising on how to minimize their potential exposure to sanctions through whatever strategy will work under the circumstances — by skillfully limiting the scope of disclosure with respect to internal documentation, for example.
At Kaufman Dolowich, our attorneys regularly counsel and defend clients in complex litigation, including individual consumer financial services claims and consumer class action claims. Our attorneys have spent decades defending claims brought against firms and financial institutions in both state and federal court, from pre-trial negotiations through trial litigation and appeals. The breadth and depth of our financial services engagements gives us unique insight into emerging regulatory and judicial enforcement trends, thus giving us an advantage in resolving ongoing litigation.
Consumer actions can pose a significant threat to the continued success of your business. We adopt a client-centered approach that takes into account the myriad of factors influencing the case outcome, and further, we understand how that outcome will ultimately impact the operation of your business. In doing so, we work closely with each client, investing significant time, resources and attention to their defense.
In handling consumer defense litigation, we settle most disputes quietly, but — inevitably — a conflict may arise in which a negotiated outcome is not favorable to our client’s interests. In these matters, we are willing and aggressive litigants who relentlessly pursue every available advantage. Practical experience in the courtroom is fundamentally important to how we navigate litigation. As keen legal negotiators, we understand that friendly, peaceful interactions with opposing counsel must be supported by the threat of an unyielding and well-litigated defense.
Over the years, our consistently positive track record in defense litigation and demonstrated ability to secure a favorable result has garnered us an impressive industry-wide reputation in the field. We often use this “brand” power to corner opposing counsel and force them to make settlement offers that better serve our client’s interests.
Contact Kaufman Dolowich Today to Discuss Your Legal Options
We encourage you to peruse the Kaufman Dolowich website to learn more about our services and our approach to handling complex legal disputes. If you would like to speak directly with a member of our team about a consumer financial services action, we invite you to contact us at your earliest convenience.
Practice Group Leadership
|Co- Managing Partner, Orlando, FL Office,
Co-Chair of Health Care/Managed Care Practice Group
Chair Emeritus of Professional Liability Practice Group
|San Francisco, CA|
Diversity & Inclusion Committee Member
Chair, Data Privacy & Cybersecurity Practice Group
|Fort Lauderdale, FL|
|Of Counsel||Philadelphia, PA , Hackensack, NJ|
|Partner||Los Angeles, CA|
|Co-Managing Partner of Philadelphia OfficeChair of Consumer Financial Services Practice Group||Philadelphia, PA|
Co-Chair of Professional Liability Practice Group
|New York, NY , Woodbury, NY|
|Co-Managing Partner of the Blue Bell office
Co-Chair of Health Care/Managed Care Practice Group
Co-Chair of Professional Liability Practice Group
- Consumer Financial Protection Bureau Announces Rulemaking to Remove Medical Debt from Credit Reports, 9-27-2023 - Sep 27, 2023
- “Kaufman Dolowich Moves Philly Team Into Center City Tower,” Law 360 Pulse, 3-8-2023 - Mar 9, 2023
- “National Law Firm Relocates Philadelphia Office to One Liberty Place,” Philadelphia Business Journal, Gregory Hyman, Esq. featured, 3-8-2023 - Mar 9, 2023
- Kaufman Dolowich Relocates Philadelphia Office to One Liberty Place, March 2023 - Mar 7, 2023
- Richard Perr quoted, Appeals court dismisses major debt collection suit in win for banks, American Banker, 9-12-2022 - Sep 14, 2022
- KDV Alert: Text Messages May Not Be Subject to the Telephone Consumer Protection Act (“TCPA”) - Mar 10, 2022
- Attys Say 11th Circ. FDCPA Ruling Could Harm Their Practices, Law 360, quoted Rick Perr, 1-25-22 - Jan 27, 2022
- Countdown to Compliance with Regulation F of the Fair Debt Collection Practices Act (FDCPA), Nov. 15 – Nov. 19 - Nov 29, 2021
- Countdown to Compliance with “Regulation F” of the Fair Debt Collection Practices Act (“FDCPA”) Nov. 8 – Nov. 12 - Nov 29, 2021
- 6 Days Remain to Prepare for “Regulation F”: KDV’s Countdown to Compliance Continues - Nov 24, 2021
- The Epic Journey of a Pivotal 11th Circuit Debt-Collection Case, The Daily Docket, noted Richard Perr, November 19, 2021 - Nov 22, 2021
- 11th Circ. Will Rehear Debt Collection Privacy Suit, Law 360, quote by Richard Perr, November 17, 2021 - Nov 18, 2021
- CFPB Debt Collection Rules Pose Test for Medical, Student Debt, Bloomberg Law, featuring Rick Perr, October 18, 2021 - Oct 18, 2021
- Copycat Attorneys Come Out: 11th Circuit Ruling Prompts Plaintiffs to Launch New Attack on Debt Collectors, NJSBA Daily Briefing, Sept. 20, 2021 - Sep 21, 2021
- California Opens DFPI Licensing Application Process; Agencies must Apply by December - Sep 13, 2021
- New State Work From Home Regulations Boosting Flexibility for Licensed Entities - Jul 23, 2021
- Where will CFPB come down on buy now/pay later loans? American Banker, ft. Richard Perr - Jul 20, 2021
- KDV Petitions the 11th Circuit to Revisit Crucial FDCPA Ruling on Behalf of Industry Client - Jun 25, 2021
- Court Decision Muddies Debt Collector Communications, American Banker, ft. Richard Perr - May 12, 2021
- Supreme Court Strikes Down Part of TCPA - Apr 1, 2021
- High Court FCRA Case Could Shake Up Class Action Standing, Law360, ft. Richard Perr - Mar 29, 2021
- The CFPB Debt Collection Rule: Where It Is and Where It Is Going – Webinar: Richard Perr and Monica Littman, Presenters - Mar 5, 2021
- Supreme Court will Address whether Each Class Member Must Have an Injury to Establish Standing - Dec 21, 2020
- What To Watch As High Court Tackles Robocall Ban’s Scope, Law360, ft. Richard Perr - Dec 8, 2020
- Webinar on Analyzing The Increase in CFPB Enforcement Actions - Nov 9, 2020
- KDV Alert: CFPB Releases its Long-Awaited Final Debt Collection Rule - Nov 3, 2020
- Debt Collectors Allowed to Text, Email Under New CFPB Rules (1), BloombergLaw, ft. Richard Perr - Nov 2, 2020
- Employees of Collection Agencies Working Nevada Accounts are Permitted to Work From Home through December 31, 2020 - Sep 22, 2020
- Employees of Collection Agencies Working Nevada Accounts Must Work from the Brick and Mortar Location Listed on the License - Aug 28, 2020
- Supreme Court Grants Cert to Clarify Autodialer Issue in the Telephone Consumer Protection Act - Jul 13, 2020
- Supreme Court: CFPB Single-Director Structure Unconstitutional, Compliance Week, ft. Richard Perr - Jun 30, 2020
- INSIGHT: High Court Wary of TCPA Debt Exemption, But Not TCPA, Bloomberg Law - May 21, 2020
- Amid bipartisan criticism, Treasury Dept. attorneys review bank seizures of $1,200 stimulus checks, Washington Post, ft. Richard Perr - Apr 21, 2020
- US Supreme Court Justices Seem Inclined to Preserve Consumer Bureau, Legal Intelligencer - Apr 7, 2020
- KDV Alert – Nationwide COVID-19 Update For Consumer Financial Services - Apr 6, 2020
- Analyzing the Consumer Financial Protection Bureau’s (“CFPB”) Proposed Time-Barred Debt Disclosure Rule Webinar, AcountsRecovery.net - Feb 24, 2020
- KDV Alert: Consumer Financial Protection Bureau Announces New Policy Regarding Abusive Acts - Feb 4, 2020
- KDV Alert: U.S. Supreme Court to Weigh In on 2015 TCPA Carve-Out for Government-Backed Debt Collection - Jan 17, 2020
- Kaufman Dolowich & Voluck Strengthens Consumer Financial Services Practice and Doubles Size of Philadelphia Office With the Addition of Four Attorneys - Jan 8, 2020