Enforcement Actions and Investigations

Like all major businesses that deal with consumers, financial services companies are prone to close scrutiny from regulatory authorities. At Troutman Sanders, we recognize clients’ need for a team of enforcement attorneys that understand and work closely with other financial services attorneys in handling their legal matters. The benefit of this coordinated approach for our clients is the possibility of reducing enforcement actions and investigations.

Our Consumer Financial Services enforcement attorneys have extensive experience interacting with regulatory and law-enforcement agencies, including state attorneys general, the Consumer Financial Protection Bureau (CFPB), the Better Business Bureau (BBB), and the Federal Trade Commission (FTC). We understand that it is not only beneficial, but necessary, to proactively advocate for our clients before government and other regulatory bodies. Doing so enables us to anticipate and address enforcement issues before they result in regulatory action or litigation.

Our clients often discover our Consumer Financial Services enforcement practice after first seeking us out for assistance with litigation. As a typical example, one of our clients contacted the firm to handle possible litigation. In response, attorneys from each of our Consumer Financial Services team’s core areas (litigation, regulatory compliance and enforcement) reviewed the issues surrounding the litigation and recommended an alternative approach that addressed the issues facing our client without resorting to litigation. We now represent this client in all three areas of our Consumer Financial Services group. This has allowed our client to spend less time and money fighting legal battles, allowing it more time to concentrate on growing its business.

Below is additional information on our experience with enforcement agencies specific to the financial services industry: