| We regularly provide advice on compliance with Regulation Z, Regulation B and other consumer lending regulations. We help clients develop open- and closed-end consumer credit programs, variable-rate consumer credit programs and home equity loan programs. We have substantial experience in all aspects of credit and debit card programs, electronic banking and payment transfers through our representation of financial institutions, merchants and money transmitters.
We regularly provide advice and support to in-house counsel at consumer lenders, as our deep experience in financial services generally, and consumer credit in particular, makes us a valuable and unique resource for many companies. We have substantial experience with the state laws and regulations governing consumer credit programs, including advertising and marketing. We regularly provide advice regarding usury, retail installment sales, community property and other applicable state laws. We regularly assist lenders in obtaining the state licenses necessary to do business. |
Selected Experience Representing franchisor and lender in Chapter 11 reorganization of Tri Cities Fast Lube, Santa Barbara. (Ongoing) Represent former WaMu officer in securities class action. (W.D. Wash. Ongoing) Represent former Washington Mutual officers in multidistrict class action litigation and tag-along cases pending in federal district court in the Western District of Washington involving securities claims arising from collapse of housing market. Appointed by court as liaison counsel and single-member deposition committee for all defendants. (W.D. Wash. Ongoing) Represented federal savings association in putative class litigation in Minnesota alleging misrepresentation of adjustable rate loan terms. Case voluntarily dismissed after oral argument on motion to dismiss based on federal preemption and motion to strike class allegations. (2007) Represented senior secured lender in the Chapter 11 reorganization of Nicola International, Los Angeles. (2005) Represented mortgage lender in a putative class action alleging violations of the anti-kickback provisions of the federal Real Estate Settlement Procedures Act (RESPA) through payment of yield spread premiums to mortgage brokers. Brought immediate and successful motion to strike plaintiffs' class allegations based on recent federal pronouncements governing the treatment of yield spread premiums. 198 F. Supp. 2d 1255 (W.D. Wash. 2002) Represented one of several loan servicers accused of having misapplied the 'carryover' provisions in HUD adjustable rate mortgages over a period of several years. Argued a successful summary judgment motion that resulted in dismissal of the class claims against all defendants. 197 F.R.D. 432 (W.D. Wash. 2000) | | Search Experience | | | |  |
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