Clients appreciate my attention to detail and problem-solving skills. They never wonder how I arrived at a conclusion – I always lay out the progression of my analysis. And, if they prefer a short answer, I can give them that, too. Because I’ve worked on many different financial products for all types of financial institutions, I have a broad and deep understanding of the complexities of the financial services marketplace. I’m straightforward and good at identifying key issues, analyzing their various components, devising shrewd strategies, and implementing them efficiently. I can often do in 15 minutes what it takes other lawyers four hours to do.
With more than 25 years of experience advising and representing financial services companies, David Thompson splits his practice between addressing problems and working to prevent them. His keen insight into the ever-evolving rules applied to the highly regulated consumer financial services industry helps his clients pursue sustainable growth while safely managing risk, resolving conflicts with customers and administrative agencies, and developing appropriate terms for agreements with customers and other businesses.
David enjoys the problem-solving nature of working with clients that are developing new products. He finds it gratifying to help them minimize risk by developing disclosures, contracts, and procedures so they can comply with regulations and expand their businesses wisely. Additionally, he vigorously advocates for his clients in business negotiations and disputes when it’s warranted.
In David’s capacity as a business advisor, he guides financial services companies in a wide range of issues. These include consumer lending and financing programs, information security and privacy, multistate licensing and consumer disclosure requirements, credit reporting, marketing, deposit products and payment systems, and electronic commerce. He counsels clients on complying with the contractual, disclosure, and conduct requirements in an “alphabet soup” federal laws such as the Truth in Lending Act (TILA), the Fair Credit Reporting Act (FCRA), the Gramm-Leach-Bliley Act, the Equal Credit Opportunity Act (ECOA), the Electronic Fund Transfer Act (EFTA), the Fair Debt Collection Practices Act (FDCPA), the CAN-SPAM Act, the Real Estate Settlement Procedures Act (RESPA), the Telephone Consumer Protection Act (TCPA), the E-Sign Act, the Servicemembers Civil Relief Act (SCRA), and the Military Lending Act (MLA), as well as state law counterparts that may establish different requirements and protections for consumers.
David’s background includes representing financial services clients in enforcement actions, investigations, supervisory responses, and civil litigation. He provides them with practical advice about avoiding or resolving conflicts with enforcement agencies and customers. He also represents clients in negotiating commercial contracts with service providers, business partners, commercial lenders, and parties that acquire an ownership interest in or servicing rights for consumer loans and extensions of credit.
As an attorney who emphasizes clear and concise communication, David strives to write with words that are easily understood by clients and others, without talking down to his audience. He translates the complicated language and jargon of the financial services and regulatory realms into plain language and synthesizes the complex concepts behind them so readers can digest the information.
A Kentucky native and admitted to practice law in the Bluegrass State, David learned to suppress his Kentucky accent years ago while living in Massachusetts and working there as Counsel for Fleet Financial Group. After practicing law in Ohio for more than 20 years, David now has a nondescript accent that makes him sound like a Midwestern native – except when the University of Kentucky Wildcats advance past the second round of the NCAA March Madness basketball tournament.