Thomas C. Kost

Business-to-business payment products enforcement action*

Served as lead attorney for the FTC in large, complex litigation against a publicly traded company and its chief executive officer involving specialized business-to-business payment products.

Small business financing enforcement action*

Member of the FTC team conducting a first-of-its-kind investigation of merchant cash advance provider in the emerging small business financing marketplace, resulting in a multimillion-dollar settlement with the company and its principals.

Litigation to quash investigative subpoena*

Represented a large financial institution in successful affirmative litigation against a state attorney general to quash an investigative subpoena issued to the bank.

CFPB fair lending PARR response*

Represented credit card issuer in CFPB fair lending examination relating to underwriting practices, achieving a confidential supervisory resolution after responding to potential action and request for response letter.

CFPB mortgage servicing investigation*

Defended mortgage servicer in multi-year CFPB investigation involving new rules promulgated under RESPA, achieving a confidential supervisory resolution.

CFPB optional overdraft investigations*

Defended multiple national banks in CFPB investigations relating to optional overdraft services under EFTA and Regulation E, including through the NORA process and settlement negotiations.

Proactive remediation and self-disclosure*

Assisted a national bank in an internal investigation relating to a self-identified compliance issue, designing a proactive customer remediation plan and self-disclosure strategy that resulted in no further action by regulators.

Comprehensive fair lending risk assessment*

Conducted enterprise-wide review of fair lending compliance—including by self-testing and evaluating policies, procedures, and marketing collateral across multiple business lines—to prepare for a supervisory examination and to propose specific enhancements to mitigate potential risks.

Compliance management system evaluation*

Advised one of nation's largest retailers regarding expanded financial services product offerings and creating robust oversight process, policies, and other controls to effectively manage compliance risk relating to those products.

New financial product counseling*

Provided actionable guidance to a regional bank pursuing a new online deposit product on how to navigate complex and overlapping rules and regulations, including state-by-state licensing requirements.

*Denotes experience prior to joining Davis Wright Tremaine