One of the premier financial services practices in the United States, with attorneys in New York, Washington, DC and Dallas, Texas
Combining substantive knowledge with in-depth procedural capability, the group has achieved an enviable record of litigation successes
Members of the group also have extensive experience in government investigations, regulatory counseling and corporate transactions over a broad range of financial services matters
Clients include some of the largest financial services companies in the world, including a payment card network, investment banks, and lending and financing institutions in various industry segments
For over thirty years, Weil’s financial services practice has grown and evolved along with the industry. The focus of the Financial Services Practice Group is to provide clients with an integrated, and thereby cost-effective, regulatory/litigation capability, based on the Group’s substantive and procedural involvement in financial services litigations. Members of the group have compiled an excellent record of winning financial services cases, often on the pleadings, and of attaining like success in the appellate courts. They also have played a leading role in reaching settlements to major class actions in the financial services field.
The group’s experience in financial services litigation includes matters involving:
- Specific federal and state financial services regulatory schemes (e.g., TILA, ECOA, FCRA, RESPA, and state usury and installment sale statutes);
- The use of federal and state antitrust, UDAP, RICO, and other laws of general applicability to challenge practices involving financial services; and
- Related litigation of class certification and arbitration clause issues.
The group also deals extensively with regulators and law enforcement officials in the financial services industry, including the FRB’s Division of Consumer and Community Affairs (examination and advisory matters), the FTC (administrative proceedings and advisory matters), HUD (administrative proceedings and advisory matters), and the OCC, OTS and FDIC (obtaining advice, chartering financial institutions, obtaining deposit insurance, administrative proceedings, and other regulatory matters).
Beyond its extensive knowledge of the consumer finance laws as they exist today, the group takes an active role in refining those laws to meet tomorrow’s challenges. It was heavily involved in formulating TILA and Regulation Z, and in drafting the Fair Credit Billing Act. Over the years, it has undertaken similar efforts with respect to various amendments to federal consumer credit laws and state credit and leasing statutes, as well as amendments to class action statutes and deceptive trade practices acts.