Consumer Financial Services Litigation | McGlinchey Stafford PLLC

McGlinchey's Consumer Financial Services Litigation Group is a recognized leader among the nation's most respected financial services institutions.

Our litigation practice brings together a skilled team of more than 100 attorneys who represent every type of consumer financial services company, including national and state-chartered banks, finance companies, mortgage lenders and servicers, credit card issuers, automobile lenders, student lenders, community banks, thrifts, credit unions and insurance providers. Our experience includes hundreds of class actions in the past ten years in state, federal, and bankruptcy courts throughout the United States, and we manage multistate litigation portfolios for our clients. We oversee budgets and related bankruptcy cases, and defend clients against actions filed by third parties – e.g., purchasers and homeowner’s associations – who seek to eliminate or impair a client’s interest in real property through a court proceeding.

Lawyers in our Consumer Financial Services Litigation team reduce the amount of research time required to address complex legal issues by drawing on the experience of our firm’s consumer finance regulatory and compliance attorneys, who have detailed knowledge of state and federal agency positions. We have relationships with various agency personnel, and from time to time we request that these agencies assist or intervene on behalf of our clients in connection with litigation matters. In many instances, when it is more efficient, our regulatory compliance attorneys will assist in drafting motions, supporting memoranda, and other pleadings. By minimizing the amount of time we spend on research, we bring greater focus to the vital issue at hand – winning our client’s case.

As leaders in their field, members of our Consumer Financial Services Litigation team speak regularly at conferences related to consumer financial services litigation including American Conference Institute forums on residential mortgage litigation and regulatory enforcement, consumer finance class actions, and fair debt collection practices as well as panels sponsored by the Mortgage Bankers Association and the Consumer Finance Legal Conference.

Lender liability claims. Our team has represented clients in thousands of consumer actions alleging unfair and deceptive practices (including online marketing and sales strategies and practices), predatory lending, improper fees and interest rates, improper or inadequate licensing, inadequate disclosures, unfair contract terms, improper credit insurance sales practices, privacy and data security matters, and violations of a host of statutes and regulations including:

Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
COVID-19 Related Claims
Equal Credit Opportunity Act (ECOA)
Fair and Accurate Credit Transactions Act (FACTA)
Fair Credit Reporting Act (FCRA)
Fair Debt Collection Practices Act (FDCPA)
Home Ownership and Equity Protection Act (HOEPA)
Real Estate Settlement Procedures Act (RESPA)
Regulation Z
State Consumer Protection and Unfair Trade Practices Laws
Telephone Consumer Protection Act (TCPA)
Truth in Lending Act (TILA)
Electronic Financial Transactions Act
UCC Articles 3 and 4

Class actions. We have defended banks, mortgage lenders and servicers, payday lenders, and credit card issuers in hundreds of class actions in state, federal, and bankruptcy courts, and in arbitration proceedings nationwide. For more information on the breadth of our class action defense experience and cutting-edge strategy, visit our CAFA Law Blog (cafalawblog.com), the leading online authority for the Class Action Fairness Act of 2005.

Government investigations. We have extensive experience representing consumer financial services clients in government and white collar investigations and defending them in enforcement actions and related litigation. We regularly represent clients in investigations and actions brought by the U.S. Department of Justice, the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), and state attorneys general. We also conduct confidential internal investigations in support of clients’ regulatory compliance obligations and provide counsel on measures to remediate foreclosure document problems and to establish and maintain adequate compliance systems.

Statute of limitation matters. We have defended clients in numerous statute of limitation matters throughout the country including particularly contentious jurisdictions such as New York, California, Texas, Florida, and Tennessee.

Escrow Issues. When borrowers claim their escrow accounts were improperly managed, resulting in their default, we defend lenders and servicers against complaints and counterclaims alleging breach of contract, wrongful foreclosure, as well as FDCPA, FCRA, RESPA, and state consumer protection act violations.

Reverse mortgage litigation. As the last of the baby boomers reach age 62, they will be eligible to purchase reverse mortgages. With this massive new market for reverse mortgage products, consumer disputes can be expected to increase significantly. McGlinchey’s Consumer Financial Services Litigation team, with deep and long experience litigating mortgage-related cases, will be ready to defend lenders facing reverse-mortgage related claims.

Home equity loan claims. Our team defends clients against borrowers’ claims of unfair and deceptive home equity lending practices, including claims against mortgage assignees.

Related bankruptcy matters. When consumer financial services litigation intersects with bankruptcy issues, our team collaborates closely with our firm’s bankruptcy lawyers, who work to protect and improve our clients’ collateral and financial positions. We have handled virtually every bankruptcy issue brought by debtors and trustees faced by financial services institutions.

Early case assessment. Our multidisciplinary approach to consumer finance litigation enables us to develop litigation strategies and arguments at the earliest stages of a case. By involving lawyers who focus on every aspect of the consumer financial services sector – regulatory compliance attorneys and attorneys who interact with relevant government, regulatory, and consumer advocacy actors – we develop a deep understanding of a case at the earliest stage.

Litigation prevention – McGlinchey’s Consumer Financial Services Litigation team works with clients and our consumer financial services regulatory lawyers to prevent future risks and minimize exposure through developing internal company procedures, helping with internal investigations, and responding to pre-lawsuit and civil investigative demands.

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