Federal Trade Commission (FTC)

Troutman Sanders’ Consumer Financial Services group includes a team of lawyers within our Enforcement Actions & Investigations practice who offer specific experience and knowledge of issues arising from the Federal Trade Commission (FTC) as it relates to the financial services industry. Our lawyers are seasoned professionals who understand the intricacies of the various divisions of the FTC and FTC regulations.

We regularly counsel clients on compliance with federal regulations such as the Fair Debt Collection Practices Act (FDCPA), the Fair Credit Reporting Act (FCRA) and the Truth in Lending Act (TILA), and provide guidance with state and local statutes. We advise and prepare our clients proactively for FTC compliance matters in order to avoid costly government audits, investigations, fines, litigation, or damage to brand or reputation, and we provide skilled representation when litigation becomes necessary.

Our clients are directly affected by the core goals and priorities of the FTC:

  • To protect consumers by providing oversight for the many diverse products and services offered by lending institutions, such as banks and credit unions, including regulation of predatory lending and other deceptive practices
  • To establish and maintain laws and regulations in order to reduce false, deceptive or inaccurate advertising, and to regulate other business inducements and transactions

In order to diligently respond to the requirements of the FTC, we provide skilled legal representation to help businesses navigate the many state and federal regulations that govern consumer finance and business interactions. Furthermore, while the explosion of web-based media within the past decade is a testament to the growth of advertising opportunities for businesses and consumers alike, such activities bring an increased pressure to legally protect your business. Our FTC lawyers have a proven record of successfully representing and advising financial service companies in these matters, from the mundane to the sensational. We regularly represent financial institutions in FTC investigations concerning a variety of matters, including consumer privacy/data security breaches as well as alleged deceptive or abusive practices by telemarketers, third-party payment processors and similar parties.

The lawyers of our Consumer Financial Services practice also advise businesses on critical matters such as consumer data privacy and protection, and with traditional financial services such as mortgage lending. Our experience with state and federal regulations can assist financial services companies, agencies and not-for-profits in understanding the numerous guidelines and navigating the growing restrictions within the expanding field of debt collection, debt reduction/negotiation, and credit counseling. Our knowledge of FTC regulations that affect all aspects of business and commerce, including telephone and e-mail solicitations, mail orders, product and price comparisons, product labeling and ingredient disclosure, and country-of-origin claims, helps a business protect its bottom line.