Consumer Financial Services Compliance

Consumer Financial Services Compliance
Alternate image for Consumer Financial Services Compliance

Our Work

  • Licensing and Compliance Counsel for a Start-Up Marketplace Lender

    Provides counsel regarding nationwide licensing and compliance matters, assists internal resources with the submission of licensing filings to regulators, and handles more complex licensing issues when they arise. Developed online loan documentation, negotiated with lending channel partner, and provided compliance advice with respect to website content development. Provides ongoing compliance advice related to all consumerMore

  • Thorough Internal Preparation and Counsel Result in No Enforcement Action on CFPB Civil Investigative Demand

    Where we started: McGlinchey’s Consumer Financial Services Compliance team serves as outside counsel to a national sub-prime auto lender who received a civil investigative demand from the Consumer Financial Protection Bureau (CFPB) regarding collections practices. Our Strategy – plus more: Our Government and Internal Investigations team worked closely with the Consumer Financial Services Compliance groupMore

  • Represented FinFit Holding Co LLC and subsidiary in connection with capital investment transaction

    McGlinchey Stafford PLLC represented FinFit Holding Co LLC and its wholly-owned subsidiary, FinFit Ops LLC, in a capital investment transaction with BCPFF, LLC, an affiliate of Bison Capital Partners IV, L.P. The initial portion of the transaction, consisting of a $16 million convertible promissory note, was completed on December 28, 2016, and will allow FinFitMore

  • Represented financial institutions in internal compliance reviews.

    Represented publicly-traded banks in internal compliance reviews and remediation calculation efforts. Led team of lawyers and consultants.

  • Regulatory Counsel for Vehicle Finance Company

    Handles complex regulatory matters, CFPB supervisory examination representation, representation regarding various regulatory investigations, and ongoing nationwide licensing analysis and support, including changes of control and strategic counsel related to a private-label agreement. Provides ongoing consumer finance compliance advice on all aspects of the company’s business.

  • Regulatory and Compliance Counsel for Used Car Retailer and Finance Company

    Revised retail and lease repossession notices and related loss recovery processes on a nationwide basis. Also worked with internal client resources on a nationwide licensing project as a result of a corporate restructuring and rebranding. Provides ongoing federal and state compliance advice related to all consumer finance aspects of the business and counsels with respectMore

  • National Consumer Credit Compliance Project

    For a national mortgage lender, McGlinchey Stafford handled a national consumer credit compliance project, including the creation of forms of retail installment contracts, promissory notes and security agreements and forms for residential real estate lending.  For this client, our team monitors applicable laws for eleven different lending products offered in 40 states.

  • Licensing and Compliance Counsel for National Auto Finance Company

    Assisted with multistate licensing, consumer finance compliance, and various loan product documentation issues relating to acquisition of bank and its affiliates. Also assisted with strategic planning, documentation preparation, and compliance and licensing advice related to the expansion of third-party refinancing channels. Provides ongoing compliance advice related to all consumer finance aspects of the business andMore

  • Licensing and Compliance Counsel for Funding Group

    Provides comprehensive licensing support, including analysis of state licensing requirements, submission of licensing filings to state regulators, communicating with state regulators to obtain required license approvals, renewals and all change of control requirements. Provides compliance advice and represents company in connection with state examinations.

  • An integrated team with extensive knowledge of the regulatory compliance regimes for both insurance and consumer financial services enabled Mercedes Benz to develop and roll out insurance and other consumer-facing financial products

    Where we started: McGlinchey’s Transportation and Logistics team was advising Mercedes Benz Financial Services (MBFS) on commercial finance matters when MBFS began to consider potential new product offerings – notably insurance and ancillary product offerings such as service contracts, guaranteed asset protection waivers, and inventory insurance and liability coverage packages for service loaners. Knowing ofMore

  • View All




  • True Lender Update: States vs. OCC; No FDIC Rule; Possible State True Lender Rules?

    For national banks, the OCC’s true lender rule became effective on December 29, 2020. However, as expected, the Attorneys General of New York, California, Colorado, the District of Columbia, Massachusetts, Minnesota, New Jersey, and North Carolina (the States) filed a federal lawsuit in New York shortly after the new year alleging that the OCC’s True Lender rule is invalid. The States argue that the OCC’s true lender rule facilitates predatory lending, preempts state usury law, and enables “rent-a-bank” schemes. The complaint further alleges that the OCC exceeded its statutory authority and questions the timing of the OCC’s rule with a new administration on the way, which may have different policy priorities set by a new Comptroller.

  • COVID-19’s impact on auto finance regulation

    Mark Edelman (Cleveland), Colin Quillinan (Albany), and Jeremy Rzepka (Cleveland) participated in the "Industry Pulse" webinar through Auto Finance News, discussing the continued shift to digital lending, changing state laws, and an increase in repossessions.

  • Murky waters: Navigating GAP state regulations

    Member Kristi Richard (Baton Rouge) is quoted in "Murky waters: Navigating GAP state regulations," published Jan. 12, 2021 in Auto Finance News.

  • Impact of COVID-19 on Your Customer Relationships

    Sandy Shatz (Irvine) co-presented "Impact of COVID-19 on Your Customer Relationships” during the California Mortgage Bankers Association (CMBA) Legal Issues & Regulatory Compliance Conference on Tuesday, January 12, 2021.

  • Review and Outlook: Legal and Compliance Developments

    Kelly Lipinski (Cleveland) joined a distinguished group of experts to discuss legal and compliance developments in the education finance industry on Wednesday, January 6, 2021, at the National Council of Higher Education Resources (NCHER) “Year-In-Review of 2020 and Outlook for 2021.”

  • View All