About This Site

Which among the following businesses are potentially subject to consumer financial services laws, rules, and regulations?

A. a retail clothing chain
B. a bank or mortgage company
C. an internet retailer
D. a fast food franchisor
E. all of the above

If you answered E, “All of the above,” you are CORRECT. However, many companies do not realize their businesses are subject to consumer financial services laws. Consequently, their businesses may not be compliant and may be subject to litigation risk.

The focus of the Consumer Finance Law Blog is to keep – all on one site – traditional and non-traditional financial service providers subject to consumer financial services laws abreast of recent developments in:

  • State consumer protection statutes and regulations
  • State privacy statutes
  • Privacy and consumer protection litigation
  • Card Association Rules
  • Equal Credit Opportunity Act
  • Electronic Funds Transfer Act
  • Fair Credit Reporting Act
  • Fair Credit Transactions Act
  • Fair Debt Collection Practices Act
  • Payment Card Industry Data Security Standard
  • State Money Transmitter Statutes
  • State Retail Installment Sales Act
  • State and Federal Unfair and Deceptive Trade Practices Acts
  • TILA, RESPA, and related federal and state consumer disclosure and notice requirements
  • Insurance coverage issues
  • Legislation that may impact company compliance or create new litigation risk.

We welcome you and hope that you find our posts interesting, educational, and thought provoking. We also welcome your feedback and invite you to suggest topics or recent decisions of interest that you would like us to address.

About the Editors

The Consumer Finance Law Blog is edited by John M. Callagy and John W. McGuinness, attorneys at Kelley Drye & Warren LLP.

About John M. Callagy

John M. Callagy is chairman of Kelley Drye & Warren and practices primarily in the firm’s New York office. He represents clients on virtually all legal issues affecting large international enterprises.

Mr. Callagy’s experience includes consumer class action defense, and counseling and litigating on behalf of U.S. and European corporate clients in connection with investigations, securities law issues, antitrust, complex contract matters, insolvency, unfair competition, indemnity insurance coverage, product liability, intellectual property, environmental law, ERISA and pension, and labor and personnel matters.
 

About John W. McGuinness

John W. McGuinness is an attorney in the firm’s Washington, DC office. His diverse practice focuses on representing clients in all facets of complex commercial litigation, including consumer class actions, and counseling in the areas of consumer financial services and insurance recovery.

Mr. McGuinness has represented retailers in a variety of nationwide and statewide consumer class actions, including under the California Unfair Competition Law (Business & Professions Code §§ 17200 et seq. & 17500 et seq.), California Civil Code section 1747.08 of the Song-Beverly Credit Card Act (collection of personal information in a credit card transaction), and the New York General Business Law. As a member of the Consumer Financial Services group, Mr. McGuinness represents clients and advises on matters involving consumer protection statutes and regulations; privacy and information security; state unfair and deceptive trade practices claims; and federal and state consumer notice and disclosure requirements.

Mr. McGuiness has extensive experience representing companies in a wide variety of general and complex business disputes, including cases involving claims for breach of contract, negligence, fraud, antitrust, and veil piercing in various federal and state courts. He also represents clients in employment and telecommunications matters, and has argued before various federal and state courts of appeals, including the First Circuit Court of Appeals.

In the insurance recovery area, Mr. McGuiness represents individuals and corporate policyholders in securing insurance coverage in matters involving trademark, copyright and patent infringement claims and counsels clients on directors’ and officers’ liability.

About the Authors

Joanna Baden-Mayer is a litigation associate in the firm’s Washington, D.C. office. Her practice focuses on consumer class action and complex litigation, primarily on behalf of financial and consumer services companies, involving fair credit reporting, fair debt collection, privacy and information security, consumer fraud and unfair and deceptive trade practices. Ms. Baden-Mayer also has substantial experience representing companies in business to business litigation, including matters involving breach of licensing agreements, patent infringement, misappropriation of trade secrets, antitrust issues, and false advertising.

Stephen R. Freeland is an associate in Kelley Drye's Washington, DC office. Mr. Freeland has served as litigation counsel to major consumer product and service companies, banks, companies in the telecommunications sector, and industrial companies in consumer class action litigation, false advertising, antitrust, intellectual property, breach of contract, business tort, and insurance recovery. His primary focus in class action litigation has been on defending banks, commercial retailers, and internet advertising companies in cases involving privacy, consumer protection, commercial debt cancellation, breach of warranty, and consumer protection claims.

Lee Istrail is an associate in Kelley Drye’s Washington, DC office. His practice focuses on matters involving antitrust, consumer protection, and advertising issues. Prior to joining Kelley Drye, Mr. Istrail clerked in the Office of Policy Planning at the Federal Trade Commission, where he conducted statutory interpretation and quantitative analysis regarding state predatory lending laws. Mr. Istrail also worked at the Federal Reserve Bank of Boston, where he analyzed issues relating to lending to consumers and businesses, and analyzed complaints of predatory lending and race and income-based discrimination in lending.

Veronica D. Jackson is an associate in Kelley Drye’s Litigation and Consumer Financial Services practice groups in the firm’s Washington, DC office. Ms. Jackson concentrates primarily on defending complex civil litigation and consumer class actions, including defending retailers in actions involving the alleged improper handling or collection of consumers’ personally identifiable information.

Lauri Mazzuchetti is a partner in Kelley Drye's Parsippany office. She focuses her practice on commercial litigation, consumer-oriented class action defense and employment litigation, including defense of discrimination, breach of contract and related claims. Ms. Mazzuchetti represents telecommunications carriers in consumer and common law fraud class action cases in federal and state courts in a multitude of jurisdictions, and defends other consumer-oriented class action claims. She also represents clients in commercial and employment litigation in federal and state courts, both at the trial and appellate levels.

Michael P. McGinn is an analyst in Kelley Drye’s Washington, DC office. Mr. McGinn is not licensed to practice law. He monitors federal legislation and regulations, conducts policy research, and briefs clients on policy and political developments across a range of issue-areas, including consumer financial services. Mr. McGinn also conducts factual investigations and research in support of litigation and civil enforcement matters, including consumer class actions.

James M. Moriarty is an attorney in Kelley Drye's litigation practice group in the firm's Stamford, Connecticut office. Mr. Moriarty represents individuals and corporations in the prosecution and defense of complex civil litigation in both state and federal court, involving a broad spectrum of legal issues. He also regularly represents clients in alternative dispute resolution fora, including Financial Industry Regulatory Authority ("FINRA") arbitrations.

James E. Nealon is a partner in Kelley Drye's Stamford, Connecticut office. His practice focuses on civil litigation, primarily commercial litigation and arbitration involving contract claims, unfair trade practices and unfair competition claims, franchise disputes, class action defense, bankruptcy, employment, antitrust and intellectual property litigation, and defending claims and regulatory investigations brought against financial institutions and broker-dealer firms in the securities industry.

Kevin J. Smith is Special Counsel in Kelley Drye's litigation practice group in the firm's New York office. Mr. Smith's litigation practice focuses on class action and complex civil litigation matters including employment, commercial and securities disputes in federal and state courts. His clients range from those within the financial services and insurance industry to multi-national information technology companies.

Yasmin Tavakoli practices intellectual property and advertising law at Kelley Drye's offices in Washington, D.C. Ms. Tavakoli's advertising and marketing experience includes reviewing gift card and loyalty programs across a variety of industries , including retail, and advising on federal and state law compliance issues. Her practice also includes managing and protecting client's brands and intellectual property rights in connection with their advertising, media, licensing, and promotional activities.

Elissa O. Tomanda is an associate in Kelley Drye’s Washington, DC office. Her practice focuses on representing corporations, bankruptcy trusts, and other clients in an array of litigation services, most notably in recovering insurance proceeds for mass tort liability, directors’ and officers’ liability, property damage, and other losses. Ms. Tomanda also litigates in the areas of antitrust, real estate development disputes, and consumer class actions.

Joseph D. Wilson is an attorney in the firm’s Washington, D.C. office. His practice focuses on business litigation in federal and state courts. He regularly practices in the United States District Court for the Eastern District of Virginia, Alexandria division. Known as the “Rocket Docket,” that court is one of the fastest moving federal courts in the country and has unique local rules and practices. Mr. Wilson has represented businesses across various industries in a variety of disputes, including consumer class actions.