Consumer Finance Regulatory

Consumer financial services is one of the nation’s most heavily regulated industries. Companies creating new products, considering significant transactions, undergoing regulatory examinations, or facing enforcement actions or litigation need an experienced legal team to provide strategic advice and ensure their long-term success.

Orrick's industry-leading team counsels consumer finance and fintech clients on the ever-growing array of federal and state statutes and regulations governing their services. Our lawyers are intimately familiar with the business dynamics of each consumer finance product segment and the depth of our work gives us an unparalleled view of the marketplace for companies seeking to tackle challenges and address emerging risks.

We advise clients—from global financial institutions to start-ups—across products, markets, and industries. In addition, we represent private equity firms that own these companies or are considering acquiring them.

Our clients include:

  • Depository institutions
  • Mortgage companies
  • Fintechs, including marketplace lenders and the full spectrum of online financial services products
  • Payment processors and money transmitters
  • Auto, student, and specialty lenders
  • Secondary market loan purchasers
  • Credit, debit, and payment card companies
  • Debt collectors and debt buyers
  • Retail installment sellers

We regularly counsel clients in matters involving the Consumer Financial Protection Bureau (CFPB), Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), Federal Trade Commission (FTC), Department of Housing and Urban Development (HUD), Department of Justice (DOJ), state attorneys general, and other federal and state regulators.

Innovative Solutions

Our approach goes beyond best-in-class legal advice to proprietary technology solutions and alternative delivery arrangements—such as Winnow and Approved—that empower our clients’ in-house teams to see around corners and efficiently meet licensing and compliance requirements.

  • Winnow is a comprehensive, interactive, and searchable database of state law requirements through which financial services companies can generate legal inventories tailored by business type, license and product (mortgage, auto, credit card, consumer, commercial loans and deposits, among others). It also includes laws related to the servicing of these products, and topics like marketing and advertising, debt collection, telemarketing, notary requirements, electronic signatures and documents, powers of attorney and privacy and data security.
  • Approved is a licensing and regulatory examination solution that translates legal advice into licensing support services (such as helping clients obtain and maintain necessary licenses) as well as state examination support and management. We built a licensing regtech platform from the ground up to give compliance professionals confidence that they have an accurate and comprehensive view of their licensing obligations and technology solutions designed to directly address the unique challenges faced by fintechs and other financial services companies.