The Impending Impact of Section 1071 and Creeping Consumerism on Equipment Finance
18 minute read | February.26.2016
Mitchell Grod
Sr Counsel & Counsel to Winnow
Santa Monica
Mitch Grod assists financial services clients on a variety of regulatory, compliance and enforcement matters by providing practical solutions to complex issues.
His clients include depository institutions, mortgage lenders and brokers, automobile lenders and finance companies, debt collectors and related service providers. He has significant experience advising clients on a myriad of state and federal regulatory matters.
Mitch is a member of the American Financial Services Association’s State Governmental Affairs Committee and Operations and Regulatory Compliance Committee. He has been recognized by Best Lawyers in America as "One to Watch" three times.
Prior to joining Orrick, Mitch was senior counsel at Buckley LLP.
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Mitch has significant experience advising clients on a myriad of state and federal regulatory matters, including:
- Assisting clients facilitate compliance with the Equal Credit Opportunity Act (ECOA), the Truth in Lending Act (TILA) – including Regulation Z and Regulation M, the Fair Credit Reporting Act (FCRA), the Fair Debt Collection Practices Act (FDCPA), unfair, deceptive, or abusive acts or practices (UDAAP) provisions, and other key federal laws
- Representing mortgage lending and automobile finance clients in investigations initiated by the Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ), including investigations related to mortgage servicing, fair lending, and add-on products
- Preparing comprehensive, high level, multistate surveys on various mortgage, automobile finance, debt collection, and license-related topics, including origination and servicing disclosure requirements, fair lending requirements, debt collection requirements applicable to first- and third-party debt collectors, and other practice restrictions
- Drafting collection letters and repossession notices for debt collection and automobile finance clients
- Completing enterprise-wide regulatory due diligence reviews of financial services companies on behalf of private equity firms, strategic acquirers and other acquiring entities, which include assessing the adequacy of the target’s compliance management system and the level of potential risk posed to an acquirer by the target’s business practices and relationships
- Performing regulatory and compliance analysis regarding residential mortgage brokering and lending, direct and indirect automobile financing, and debt collection
- Federal preemption of state consumer and commercial credit laws
