The CFPB and Deceptive Practices: Two Cases May Expand Bureau’s Reach

Law360
10 minute read | September.28.2023

The Consumer Financial Protection Bureau (CFPB) has taken a broad view in two cases of who is subject to the ban on unfair, deceptive of abusive acts and practices.

In Law360, Orrick’s John Coleman and Leslie Meredith explore cases that raise questions about the scope of the CFPB’s enforcement authority – and how an expansion could affect consumer credit markets:

CFPB v. National Collegiate Master Student Loan Trust is a closely watched case with potentially significant consequences for consumer credit markets.
CFPB v. Manseth resulted in a decision that a group of consumer debt brokers were “covered persons” subject to the ban on unfair, deceptive of abusive acts and practices, a decision with significant importance that has gone largely unnoticed.

Authors

John Coleman Partner, Financial & Fintech Advisory, Strategic Advisory & Government Enforcement (SAGE)

Washington, D.C.

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D:+1 202 349 8006
E: [email protected]

Practice:

Financial & Fintech Advisory
Strategic Advisory & Government Enforcement (SAGE)
Fintech

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John Coleman Partner

Washington, D.C.

Prior to joining Orrick, John was a partner at Buckley LLP, which he joined after 15 years in federal government service as a litigator and advisor to senior policymakers, most recently as Deputy General Counsel for Litigation and Oversight at the Consumer Financial Protection Bureau. He joined the CFPB soon after its creation in 2010 and was one of a core group of attorneys tasked with interpreting the authorities granted to the agency by the Consumer Financial Protection Act of 2010 and establishing the procedures by which the agency exercises those authorities. He was the first person to appear in court on behalf of the CFPB and was involved in every significant litigation matter in the agency’s history prior to his departure. As Deputy General Counsel, he managed the team of attorneys responsible for representing the Bureau in litigation, including appellate matters, and before congressional oversight bodies.

John served every director or acting director in the CFPB's history during his tenure at the CFPB, advising them and senior officials in the Division of Supervision, Enforcement, and Fair Lending on a range of complex legal and policy matters, including those arising in the course of examinations, investigations and enforcement actions. He also advised the Director and senior officials in the Division of Research, Markets, and Regulations with respect to rulemakings, and represented the agency in all rulemaking challenges.

Prior to joining the CFPB, John was a trial attorney in the Federal Programs Branch of the Department of Justice’s Civil Division, representing federal agencies and officials in high-profile civil litigation, including cases brought under the U.S. Constitution, the Administrative Procedure Act and federal antidiscrimination laws.

Following law school, he served as a law clerk for the Honorable T.S. Ellis III, of the United States District Court for the Eastern District of Virginia.

Leslie Meredith Partner, Strategic Advisory & Government Enforcement (SAGE), Financial & Fintech Advisory

Washington, D.C.

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D:+1 202 349 7976
E: [email protected]

Practice:

Strategic Advisory & Government Enforcement (SAGE)
Financial & Fintech Advisory
Risoluzione contenziosi e vertenze complesse
Government Investigations and Enforcement Actions
Financial Services Litigation

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Leslie Meredith Partner

Washington, D.C.

Leslie is an effective communicator who is able to distill complex facts and legal concepts, and turn them into simple, compelling, and persuasive stories, both in court and in negotiations with the government. Although she has been involved at every stage of litigation, some of her greatest successes were in cases that were resolved quickly or that concluded with the government choosing not to take action at all. She is passionate about partnering with her clients to understand their priorities and find innovative and cost-effective strategies to resolve disputes favorably.

Leslie has significant experience managing complex and cross-border e-discovery, handling pre-trial motions, including overseeing successful summary judgment motions and motions to dismiss, taking and defending critical fact and expert depositions, and preparing for evidentiary hearings and trials.

In addition to representing clients in federal and state courts around the country, she has helped clients navigate and resolve enforcement actions by state and federal regulators, including the Consumer Financial Protection Bureau (CFPB), Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board (FRB), Department of Justice (DOJ), and state attorneys general, relating to a wide range of subject matter areas, involving both traditional and alternative financial services.

Drawing on the breadth of her experience in the financial services industry, Leslie also counsels clients on compliance with consumer protection laws and supervision preparedness. Her areas of focus include, prohibitions on unfair, deceptive or abusive acts or practices (UDAP and UDAAP); customer complaints management; and codes of conduct and business ethics, including policies related to outside business interests and the Bank Bribery Act.

Prior to joining Orrick, Leslie was counsel at Buckley LLP. She also completed a six-month secondment at a large financial institution, working as a member of the private banking legal advisory group and the litigation department. Leslie is a Professorial Lecturer in Law at the George Washington University Law School, and maintains an active pro bono practice focused on criminal justice and immigration matters.

Related Areas

Financial & Fintech Advisory