Financial Services

Featured Publication:

When Might a Plaintiff Argue Against Their Own Article III Standing? [Alert]

The Eastern District of NY weighed in on what should happen when a defendant attempts to remove a consumer protection matter to federal court.

More

Our Financial Services attorneys represent retail banks, commercial and investment banks, credit unions, credit card issuers and lenders, investment funds and money managers, private equity and venture funds, broker-dealers, directors and officers, insurers and reinsurers, and other corporate entities in the full gamut of legal and regulatory issues attendant to the financial services industry. We have an in-depth understanding of modern financial markets and banking, and are positioned to provide strategic litigation advice and advocacy to meet clients’ business and legal goals.

Cozen O’Connor’s financial services attorneys counsel clients on a wide spectrum of legal and regulatory matters. We routinely advise commercial, investment, and retail banks, as well as credit unions, credit card issuers and lenders, and both private equity and venture funds. Additionally, our team works with investment funds and money managers, broker-dealers, directors, officers, insurers, and reinsurers.

We are committed to provide counsel that is uniquely designed to meet our clients’ business and legal needs while remaining cost-effective. We have built a strong track record of helping clients navigate an array of financial services-related matters.

Litigation

Our financial services litigators have decades of experience and deep industry knowledge that enables them to guide our clients effectively and efficiently through each step of their case. We understand the high-stakes nature of financial services litigation, and we use a strategically tailored approach to each matter to help each client meet their ultimate goals.

We defend clients in state and federal courts in Securities and Exchange Commission (SEC) investigations, securities class actions, contested takeovers, contract disputes, RICO claims, and contested mutual fund rights offerings. Our litigators also handle matters involving retail financial products, such as disputes involving credit and debit cards, forgeries, privacy, identity theft, and embezzlement. We also advise banks and mutual funds on regulatory issues.

We frequently assist clients with issues that involve federal and state consumer protection statutes, including but not limited to:

  • California Consumers Legal Remedies Act (CLRA)
  • California’s Rosenthal Fair Debt Collection Practices Act (RFDCPA)
  • Electronic Funds Transfer Act (EFTA)
  • Fair and Accurate Credit Transactions Act (FACTA)
  • Fair Credit Billing Act (FCBA)
  • Fair Credit Reporting Act (FCRA)
  • Federal Fair Debt Collection Practices Act (FDCPA)
  • Real Estate Settlement Procedures Act (RESPA)
  • Rees-Levering Automobile Sales Finance Act (ASFA)
  • Telephone Consumer Protection Act (TCPA)
  • Truth-in-Lending Act (TILA)

Retail Banking

Our team works with retail banks providing tailored counsel suited for their unique needs. We have a deep understanding of banking statutes and leverage our knowledge and experience to provide swift and effective counsel for our clients.

Our retail banking attorneys navigate credit and debit card disputes, Commercial Code Article 3 and Article 4 matters, and disputes involving merchants. We also help our clients with issues related to privacy, identity theft, and wrongful foreclosure, as well as § 17200 matters and complex business disputes.

Cozen O’Connor’s experienced retail banking attorneys understand the complex risks that our clients face on a daily basis. We work closely with our retail banking clients to provide comprehensive counsel in an effort to help minimize their potential risks and helping ensure compliance with relevant state and federal legislation, including but not limited to the Truth in Savings Act, the Expedited Funds Availability Act, and the Electronic Fund Transfer Act.

Enforcement

Our financial services attorneys routinely advise clients involved in actions by federal and state regulatory agencies. Cozen O’Connor’s attorneys have decades of experience guiding clients through sensitive regulatory investigations and examinations by state and federal government departments and agencies. In addition to the Department of Justice (DOJ), the SEC and Financial Industry Regulatory Authority (FINRA), Cozen O’Connor’s lawyers routinely handle matters involving the Federal Trade Commission (FTC), the Bureau of Consumer Financial Protection (BCFP), and the Commodity Futures Trading Commission (CFTC), among others. We also work seamlessly with Cozen O’Connor’s leading State Attorneys General Practice on matters involving state attorneys general investigations. When our clients face inspections or investigations from regulators, our experienced financial services team provides carefully tailored advice to effectively guide them through each stage of the matter.

We regularly defend financial institutions, their holding companies, and, often, their officers, directors, and employees. Our enforcement attorneys also defend broker-dealers, investment advisers, and securities traders. We help our clients with investigations and enforcement actions, including those involving securities trading, broker-dealer activities, investment advisers, commodities trading, and reporting duties in all of those areas.

Compliance

For financial services companies, compliance with state and federal laws and regulations is paramount. Our experienced financial services attorneys stay up to date with the ever-changing legal landscape to help our clients’ compliance with all necessary laws and avoid potential legal and financial liability. We also help our clients draft policies and design (and sometimes) perform appropriate training for their employees. We also assist clients with audits to identify potential issues that may relate to compliance with state and federal laws involving consumer protection and financial privacy laws. 

Experience

Publications

Federal Court Standing Decision May Spark Trend In Consumer Protection Action Filings In State Court [Alert]

September 29, 2022

The application of Spokeo principles is more commonplace across consumer protection actions, sparking a trend of plaintiffs pursuing more state court actions.

When Might a Plaintiff Argue Against Their Own Article III Standing? [Alert]

June 15, 2022

The Eastern District of NY weighed in on what should happen when a defendant attempts to remove a consumer protection matter to federal court.

California Brings Licensing and Oversight to Consumer Debt Collectors [Alert]

November 02, 2020

Brett D. Watson discusses the DCLA, one of several new consumer protection bills recently enacted in California, including the state’s “mini-CFPB,” otherwise known as the California Consumer Financial Protection Law.

California Court of Appeal Holds Banks Owe Depositors No Duty to Monitor Other Depositor’s Accounts [Alert]

June 30, 2020

Brett D. Watson discusses the California Court of Appeal's decision in Kurtz-Ahlers v. Bank of America.

Expect an Uptick in Employee Embezzlement Following COVID-19 Lockdowns [Alerts]

June 25, 2020

Brett D. Watson discusses why small businesses could experience an uptick in embezzlement post-COVID-19, how to prevent it, and how banks can insulate themselves from liability.

COVID-Driven Commercial Litigation – What Businesses Can Expect

May 08, 2020

Adam Schlatner and Michael de Leeuw discuss potential COVID-19 related litigation, based on what is already happening and the legacy of other downturns.

NYS DFS Releases Emergency COVID-19 Regulation on Mortgage Forbearances and Financial Fee Waivers [Alert]

March 26, 2020

Stuart Shorenstein, Katie Schwab, Jamie Ansorge, and Evan Preminger discuss EC 202.9, requiring New York state-regulated financial institutions to provide mortgage forbearance for residential properties located in New York for 90 days and to eliminate ATM fees, overdraft fees, and credit card late payment fees.

NJ Case Bolsters The Limitations Defense Against SEC

January 02, 2018

Joseph Dever and Matthew Elkin, of Cozen O'Connor's Commercial Litigation Practice, co-authored, " NJ Case Bolsters The Limitations Defense Against SEC," for Law360.

In The News

Cozen O’Connor Recognized as a “Best Law Firm” in 29 Practice Areas Nationwide, 121 Practice Areas Regionally

November 04, 2021

U.S. News & World Report and Best Lawyers recognized Cozen O’Connor as a “Best Law Firm” in 29 practice areas nationwide and 121 practice areas regionally.

Cozen O’Connor Continues its West Coast Expansion, Adding Three Veteran Southern California Litigators to its Los Angeles Office

March 04, 2020

Thomas Lombardi, Devin Donohue and Brett Watson — from one of southern California’s leading litigation boutiques Lombardi & Donohue — have joined the firm as members.

Share Class Settlements won’t Kill 12b-1 Fees but Resuscitation Comes Through Disclosure

March 21, 2019

Joe Dever was quoted in Regulatory Compliance Watch's article about the state of advisers receiving 12b-1 fees for placing clients in certain mutual fund share classes.

Contacts

Michael B. de Leeuw

Vice Chair, Business Litigation

mdeleeuw@cozen.com

(212) 908-1331

John J. Sullivan

Member

jsullivan@cozen.com

(212) 453-3729

Brett D. Watson

Chair, Retail Banking Practice

bwatson@cozen.com

(213) 892-7938

People

Awards

Cozen O’Connor Recognized as a “Best Law Firm” in 29 Practice Areas Nationwide, 121 Practice Areas Regionally

November 04, 2021

U.S. News & World Report and Best Lawyers recognized Cozen O’Connor as a “Best Law Firm” in 29 practice areas nationwide and 121 practice areas regionally.

Related Practice Areas

Keep up-to-date with the latest news from Cozen O'Connor

Enter your City or Zip.

Probably shouldn't change this:
Sign up to receive alerts, publications, and event / webinar invites.

By submitting your contact information, you are giving Cozen O'Connor consent to contact you via email.