Alert 03.18.25
Service
Consumer Finance Regulatory
Contacts
Elizabeth Vella Moeller
Partner, Washington, DC
T: +1.202.663.9159
elizabeth.moeller@pillsburylaw.com
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Pillsbury’s top-ranked Consumer Finance Regulatory team works with banks, nonbanks and fintechs on consumer protection, regulatory, technology and data privacy issues, as well as a broad range of other concerns.
Pillsbury’s Consumer Finance Regulatory team is highly regarded for its skill in addressing the challenges financial institutions, fintechs and their service providers face. With decades of experience in consumer finance regulation, compliance, financial technology, and data privacy/security, our lawyers fully understand and speak the complex languages of financial institutions, their regulators, and technology. We also possess significant in-house experience representing major banks on e-commerce and technology-related consumer protection issues. And, with a former New York State Department of Financial Services (NYDFS) senior official as one of our team leaders, we offer keen perspective and effective working relationships with regulators.
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Our team represents clients before, and provides counsel regarding, the Consumer Financial Protection Bureau (CFPB), the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the Federal Trade Commission (FTC) state attorneys general, and the NYDFS and other state banking and licensing authorities. We have been at the forefront of advising companies incorporating new financial technology into their business, helping banks launch online banking and lending platforms, advising startups creating entirely new technologies (e.g., marketplace lenders, blockchain solutions providers, and mobile payments), and helping companies of all kinds wrestle with Big Data and the Fair Credit Reporting Act (FCRA), among other privacy laws.
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A deep bench of practitioners based in New York, Washington, DC, California, and Texas offers clients a full suite of legal services, from counseling to litigation to lobbying. We cover the alphabet soup of consumer finance regulations, spanning a broad range of products and services: consumer and small business lending, earned wage access and other advance products, deposits, credit cards, prepaid cards, mortgages, student loans, auto loans, credit reports, online/mobile banking, and mobile payments. We also advise on NACHA and card network rules and related regulations, as well as point-of-sale technology requirements, such as chip-and-pin.
Representative Experience
- Representing several commercial banks in development and roll-out of nationwide digital banking platforms, including regulatory and related issues.
- Representing numerous fintechs, drafting key contracts with banks and other partners and also advising these companies on regulatory issues involving consumer protection, data privacy and cybersecurity concerns.
- Represented major payments company in responding to “matters requiring attention” arising from CFPB exam, gathering, analyzing and suggesting strategic changes to advertising and consumer-facing communications across the whole enterprise.
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- Retained as counsel to major online bank on depository and payments issues, including the Truth in Savings Act, Electronic Fund Transfer Act, UCC, and the NACHA rules.
- Representing various financial institutions in connection with regulatory issues involving digital financial services, including lending and deposit activities.
Practice Area Highlights
- Team leader previously oversaw NYDFS compliance and fair lending examinations of banks, non-depository lenders, loan servicers, credit reporting agencies, and other regulated institutions, and supervised a group that conducted investigations and brought enforcement actions involving consumer financial products and services.
- Pillsbury Consumer Finance Regulatory lawyers regularly provide thought leadership in the space, through written publications, and conference and webinar speaking engagements, on the changing regulatory landscape involving consumer finance and fintech companies.