Regulatory Compliance

Troutman Sanders’ Regulatory Compliance practice is one facet of the firm’s Consumer Financial Services group, a multidisciplinary team of attorneys who routinely advise consumer-facing companies on managing risk. We provide collaborative, seamless guidance that helps identify and minimize a company's overall compliance risks, whether such risks require comprehensive compliance counseling, confronting state and federal regulators, or handling litigation, including class actions.

We understand that regulatory compliance is among the top concerns of owners, executives, and managers of companies, particularly in today’s increasingly complex and risky legal landscape in which financial-services companies confront an ever-growing number of federal and state laws. The legal risks of noncompliance, in both the regulatory and litigation contexts, have never been higher.

Consumer protection laws are paramount in this list of threats and burdens for business. Federal and state regulators, including the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), and state attorneys general, regularly make headlines with their enforcement, investigatory and regulatory actions.

In addition to their analog state laws, the federal "alphabet soup" of consumer protection statutes and related regulations [e.g., the Truth in Lending Act (TILA), the Telephone Consumer Protections Act (TCPA), the Fair Credit Reporting Act (FCRA), and the Fair Debt Collection Practices Act (FDCPA)] impose many specific compliance requirements for our clients. Our team of attorneys is exceptionally knowledgeable and conversant in the requirements of state and federal unfair, deceptive and abusive acts and practices (UDAAP; UDAP before the insertion of the word “abusive” in the Dodd-Frank Act).

We regularly facilitate on- and off-site compliance audits, perform due diligence reviews, draft training and compliance manuals and materials, and conduct multistate analyses of state and federal laws that may govern the client’s products or business practices.

  • Advised a range of companies, including a national background investigation company, a national retailer and a specialized financial services company, on the Graham-Leach-Bliley Act (GLB), FCRA, Equal Credit Opportunity Act (ECOA) and Regulation B (Reg B), and TILA and Regulation Z (Reg Z), as well as analog state statutory compliance obligations
  • Counseled the nation’s largest used-car retailer in numerous state and federal compliance issues, including conducing multistate analysis of state consumer protection laws
  • Advised a regional bank on compliance matters involving the full range of consumer laws, including TILA, FCRA, ECOA and the Real Estate Settlement Procedures Act (RESPA)
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