Thinks of issues from both a legal and business perspective … a phenomenal lawyer.Chambers USA
Clinton R. Rockwell
Partner
Biography
Clinton Rockwell is the Managing Partner of Buckley LLP’s Los Angeles and San Francisco offices. He advises a variety of clients on consumer financial services matters, including private equity, banks, mortgage companies, fintech lenders, auto lenders, commercial lenders, secondary market loan purchasers, and securities broker-dealers, regarding regulatory, licensing, compliance, and transactional matters on a nationwide basis. His work also includes advising on California-specific lending matters, including the California Finance Lender Law, among other California lending laws.
Specifically, Mr. Rockwell has been involved with matters including:
- Compliance regarding the enumerated laws under the Consumer Financial Protection Bureau's (CFPB) purview
- Federal preemption of state consumer and commercial credit laws, including rate exportation/most favored lender issues
- Acquisitions of mortgage and consumer lending platforms by private equity companies
- Bank partnership models and true lender implications
- Issues unique to fintech companies, both in the consumer and commercial lending context
- Federal Housing Administration (FHA) lending and servicing
- 50-state consumer lending compliance
- Licensing and regulatory compliance in connection with state mortgage banker, broker, consumer, and commercial loan laws
- Real Estate Settlement Procedures Act (RESPA) compliance, including affiliated business arrangements and joint ventures
- Federal and state enforcement examinations
Mr. Rockwell was selected for inclusion in Chambers USA (2010-2019), where he is currently ranked in Financial Services Regulation: Consumer Finance (Compliance), and was described as "an exceptional business lawyer. Thinks of issues from both a legal and business perspective." He is a member of the American Bar Association Consumer Financial Services Committee, the University of London Post Graduate Law Society, and the Bentham Society at University College London.
Mr. Rockwell was one of the original members of Buckley Kolar LLP, joining the firm as an Associate at its formation in January 2004. Prior to joining Buckley, he was with Goodwin Procter LLP in Washington, D.C. He received his LL.M. from University College London, his J.D. from the George Washington University, and his B.A. from the University of California, San Diego.
Thinks of issues from both a legal and business perspective … a phenomenal lawyer.Chambers USA
In The News
Buckley recognized by Chambers USA as a “first-rate firm” in financial services; “crème de la crème” for White Collar practice
Buckley has once again received top recognition in financial services regulation and white collar crime/government investigations from Chambers USA, which ranks the country’s leading firms and lawyers in a range of practice areas based on research and client interviews.
In total...
AnnouncementsBuckley announces name and leadership changes
WASHINGTON, DC (Jan. 17, 2019) – Buckley Sandler LLP, a premier national law firm focused on financial services, white collar defense, and complex civil litigation, has changed its name to Buckley LLP and reorganized its governance structure and leadership team. The decision to shorten the firm’s...
Press ReleasesBuckley Sandler recognized by Chambers USA as “an excellent firm” with “a fine stable of expert attorneys”
Buckley Sandler once again has received top recognition in financial services regulation and white collar crime/government investigations from Chambers USA, which ranks the country’s leading firms and lawyers in a range of practice areas by researching the firms and interviewing...
AnnouncementsBuckley Sandler Opens San Francisco Office
WASHINGTON, DC (January 9, 2018) – Buckley Sandler LLP today announced the opening of an office in San Francisco, expanding the firm’s California presence to meet the demands of its growing base of fintech, regtech, and technology clients. The firm also has offices in Washington, D.C., Los Angeles...
Press ReleasesAndrew L. Sandler and Clinton R. Rockwell Quoted in American Lawyer Article, “Continuing Growth, Buckley Sandler Opens Office in San Francisco”
Andrew L. Sandler and Clinton R. Rockwell were quoted on January 9, 2018 in an American Lawyer article, “Continuing Growth, Buckley Sandler Opens Office in San Francisco,” which discussed the opening of the firm’s San Francisco office to support the firm’s growing fintech and regtech clients base...
In The NewsBuckley Sandler Recognized by Chambers USA as an “Exceptional” Financial Services Regulation and White Collar Firm
Buckley Sandler has continued to receive top recognition in the areas of financial services regulation and white collar crime/government investigations from Chambers USA , which ranks the country’s leading firms and lawyers in a range of practice areas based on in-depth client interviews and peer...
In The NewsBuckley Sandler Noted As "One of the Most Significant Consumer Finance and Banking Enforcement Firms in the US Market" By Chambers USA
Buckley Sandler has continued to receive top recognition in financial services regulation and white collar crime/government investigations from Chambers USA , which ranks leading firms and lawyers in a range of practice areas throughout the US based on in-depth client and peer research. The firm...
In The NewsBuckley Sandler Noted as "Firm of Preeminent Repute in the Consumer Finance and Fair Lending Space" by Chambers USA
Buckley Sandler LLP is pleased to announce that the firm and 13 of its attorneys have received top rankings in Chambers USA , which ranks leading firms and lawyers in a range of practice areas throughout the US based on in-depth client and peer research. Buckley Sandler is ranked as a Band 1 firm...
Press Releases
Articles & Special Alerts
"Reducing the regulatory risk of merchant cash advances and factoring" by Clinton R. Rockwell, Moorari K. Shah, and Lauren Frank (Law360)
A growing number of courts and regulators have reached different conclusions on whether factoring and merchant cash advances constitute loans subject to state lender licensing and usury regulations, leaving many factoring companies and their clients without legal certainty about the nature of the...
ArticlesC-Suite Financial Services Review: The Return of the Wholesale Mortgage Broker
The prevalence of wholesale mortgage brokers has fluctuated dramatically in the past two decades, peaking in the mid-to-late 2000s due to high homebuyer demand and a comparatively lax regulatory environment, and crashing with the housing market and subsequent financial crisis. The massive overhaul...
C-Suite ReviewC-Suite Financial Services Review: Building a Better Compliance Management System
The change in leadership and direction at the Consumer Financial Protection Bureau has prompted many providers of consumer financial services to question the importance of a rigorous, well-coordinated compliance management system. Changing emphasis and easing back — and saving some time and expense...
C-Suite ReviewSpecial Alert: OCC Takes the Next Step Toward a Fintech National Bank Charter
On December 2, 2016, the Office of the Comptroller of the Currency (“OCC”) announced its plans to move forward with developing a special purpose national bank charter for financial technology (“fintech”) companies. Accompanying the Comptroller of the Currency, Thomas J. Curry’s announcement, the...
InfoBytesSpecial Alert: OCC Takes the Next Step Toward a Fintech National Bank Charter
On December 2, 2016, the Office of the Comptroller of the Currency (“OCC”) announced its plans to move forward with developing a special purpose national bank charter for financial technology (“fintech”) companies. Accompanying the Comptroller of the Currency, Thomas J. Curry’s announcement, the...
ArticlesSpecial Alert: Election Results - Preliminary Thoughts and Reactions
As a result of last Tuesday’s election, Republicans will control the White House and both houses of Congress in 2017. It is likely there ultimately will be some significant changes affecting financial services regulation and enforcement, but they will take time to implement. The President-elect has...
ArticlesSpecial Alert: D.C. Circuit Panel Rejects CFPB's RESPA Interpretation and Alters its Structure in PHH Corp. v. CFPB
On October 11, a three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit issued an opinion vacating a $109 million penalty imposed on PHH Corporation under the anti-kickback provisions of the Real Estate Settlement Procedures Act (RESPA), concluding that the CFPB...
ArticlesSpecial Alert: CFPB Finalizes Amendments to Mortgage Servicing Rules
On August 4, the CFPB issued its long-awaited final amendments to the mortgage servicing provisions of Regulations X and Z. The Bureau had sought comment on the proposed rule in December 2014, more than 18 months ago. Spanning 900 pages, the final rule makes significant changes that will impact...
ArticlesSpecial Alert: CFPB Proposes Amendments to Know Before You Owe/TRID Rule
On Friday, the CFPB issued its much anticipated proposal to amend the KBYO/TRID rule. The CFPB crowded dozens of proposed changes into the almost 300 page proposal, most of which are highly technical and require careful examination. As the Bureau has signaled since its intention to issue amendments...
ArticlesSpecial Alert: Maryland Ruling Opens New Front in Battle Over Bank Partnership Model
On June 23, the Maryland Court of Appeals affirmed a lower court judgment holding that a non-bank entity assisting consumers obtain loans from an out-of-state bank and then repurchasing those loans days later qualifies as a “credit service business” under the Maryland Credit Services Business Act (...
ArticlesSpecial Alert: CFPB Plans to Propose TRID Amendments in July
Director Cordray announced yesterday in a letter to industry trade groups that the CFPB has "begun drafting a Notice of Proposed Rulemaking (NPRM) on the Know Before You Owe Rule.” However, contrary to some reports, the proposal is not imminent. Instead, Director Cordray stated that the Bureau “...
ArticlesSpecial Alert: CFPB Director Opines on TRID Liability
On December 29, 2015, CFPB Director Richard Cordray issued a letter in response to concerns raised by the Mortgage Bankers Association regarding violations of the CFPB’s new TILA-RESPA Integrated Disclosure (“TRID”) rule, also known as the Know Before You Owe rule. In an effort to address concerns...
ArticlesThe CFPB Doesn't Like Your MSA
It is no secret that marketing service agreements (“MSAs”) are under increased scrutiny. In addition to initiating numerous enforcement actions, the Consumer Financial Protection Bureau (“CFPB”) recently issued Compliance Bulletin 2015-05, titled “RESPA Compliance and Marketing Service Agreements...
ArticlesConsumer Financial Services Answer Book 2016
The fifth edition of the Practising Law Institute’s Consumer Financial Services Answer Book was published this month, with 29 Buckley Sandler attorneys contributing to this leading desk reference. The 2016 edition of the Consumer Financial Services Answer Book continues to provide practitioners...
ArticlesSpecial Alert: CFPB Adopts Significant Expansion of HMDA Requirements
On October 15, the Consumer Financial Protection Bureau (the CFPB or Bureau) issued a final rule that will expand the scope of the Home Mortgage Disclosure Act (HMDA) data reporting requirements while seeking to streamline certain existing requirements. Although some of the new data points the...
ArticlesSpecial Alert: CFPB Issues Guidance Regarding Marketing Services Agreements
On October 8, 2015, the Consumer Financial Protection Bureau (“CFPB”) published a compliance bulletin providing guidance to mortgage industry participants regarding the permissibility of marketing services agreements (“MSAs”) under the Real Estate Settlement Procedures Act (“RESPA”). The bulletin...
ArticlesSpecial Alert: CFPB Officially Delays TRID Rule Until October 3
The CFPB finalized a rule today that delays the effective date of the TILA-RESPA Integrated Disclosure (“TRID”) rule, including all amendments, from August 1 to October 3, 2015 . This is consistent with the proposed rule issued last month, which we wrote about here . The CFPB considered...
ArticlesSpecial Alert: CFPB Launches First Monthly Complaint Report Providing Snapshot of Consumer Trends
On July 16, 2015, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) launched the first in a new series of monthly complaint reports highlighting key trends from consumer complaints submitted to the CFPB. Importantly, its monthly report provides significant detail on the complaints the...
ArticlesSpecial Alert: CFPB Issues Proposal to Delay TRID Rule Until October 3
The CFPB issued a proposed rule today to delay the effective date of the TILA-RESPA Integrated Disclosure (“TRID”) rule, including all amendments, from August 1 to October 3, 2015. The proposed delayed effective date is two days later than the date announced last week so that the effective date...
ArticlesSpecial Alert: CFPB Will Propose to Delay TRID Rule Until October 1
Two weeks after declining requests from industry and members of Congress for delayed enforcement of the TILA-RESPA Integrated Disclosure (“TRID”) rule, the CFPB announced today that it will be issuing a proposed amendment to delay the rule’s effective date from August 1 to October 1, 2015. CFPB...
ArticlesSpecial Alert: CFPB Consent Order Applies Loan Originator Compensation Rule to Marketing Services Agreements
On Friday, the CFPB announced a consent order against Guarantee Mortgage Corporation , resolving allegations that the company paid loan originators based on the terms of their mortgage loans in violation of the Loan Originator Compensation Rule (the “LO Comp Rule”). Since inheriting responsibility...
ArticlesSpecial Alert: USDA-RHS Proposes Its Own QM Rule
On March 5, 2015, the USDA-RHS released a proposed rule to amend the regulations for the Single Family Housing Guaranteed Loan Program (SFHGLP) to provide that a loan guaranteed by USDA-RHS is a QM if it meets certain requirements set forth by the CFPB. In addition, USDA-RHS proposed to add the...
ArticlesSpecial Alert: CFPB Finalizes Amendments to TILA-RESPA Integrated Mortgage Disclosures
On January 20, 2015, the CFPB finalized amendments to the TILA-RESPA Integrated Disclosure (“TRID”) rule that make a number of amendments, clarifications, and corrections, including: Relaxing the redisclosure requirements after a rate lock. The final rule permits creditors to provide a revised Loan...
ArticlesSpecial Alert: CFPB Finalizes Points-and-Fees Cure and Other Mortgage Rule Amendments
Last week, the CFPB finalized an important amendment to its ATR/QM Rule that provides a mechanism for curing points-and-fees overages on qualified mortgage (“QM”) loans, as well as more minor amendments to its mortgage origination and servicing rules. The new rules, which were proposed in April,...
ArticlesSpecial Alert: Proposed Amendments to the TRID Rule and Introducing Buckley Sandler's TRID Resource Center
Buckley Sandler is pleased to announce our new TILA-RESPA Integrated Disclosure (“TRID”) Resource Center . The TRID Resource Center is a one-stop shop for TRID issues, providing access to Buckley Sandler’s analysis of the TRID rule and the CFPB’s amendments, transcripts of CFPB webinars providing...
ArticlesConsumer Financial Services Answer Book 2015
Buckley Sandler lawyers played a prominent role in the publication of this leading desk reference on consumer financial services, published by the Practising Law Institute. The 2015 edition of this publication continues to provide practitioners with a core understanding of the laws governing...
ArticlesSpecial Alert: CFPB Bulletin Re-Emphasizes Focus on Mortgage Servicing Transfers
On August 19, 2014, the CFPB issued Bulletin 2014-01 to address “potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.” The bulletin, which is the latest in a series of CFPB regulations, statements, and guidance on this subject, replaces...
ArticlesSpecial Alert: CFPB Issues Guidance on Supervision and Enforcement of Mini-Correspondent Lenders
This afternoon, the CFPB issued policy guidance on supervision and enforcement considerations relevant to mortgage brokers transitioning to mini-correspondent lenders. The CFPB states that it “has become aware of increased mortgage industry interest in the transition of mortgage brokers from their...
ArticlesSpecial Alert: CFPB Guidance States That Successors Are Not Subject to the ATR/QM Rule
On July 8, 2014, the CFPB issued an interpretive rule stating that the addition of a successor as an obligor on a mortgage does not trigger the Ability-to-Repay/Qualified Mortgage Rule (“ATR/QM Rule”) requirements if the successor previously received an interest in the property securing the...
Articles
Awards and Recognitions
Awards & Recognitions
- Chambers USA 2019: Band 3, Financial Services Regulation: Consumer Finance (Compliance)
- Chambers USA 2018: Band 3, Financial Services Regulation: Consumer Finance (Compliance)
- Chambers USA 2017: Band 2, Financial Services Regulation: Consumer Finance (Compliance)
- Chambers USA 2016: Band 2, Financial Services Regulation: Consumer Finance (Compliance)
- Chambers USA 2015: Band 2, Financial Services Regulation: Consumer Finance (Compliance)
- Chambers USA 2013-2014: Band 3, Financial Services Regulation: Consumer Finance (Compliance)
- Chambers USA 2010-2012: Up and Coming, Financial Services Regulation: Consumer Finance (Compliance)
Education
- J.D., George Washington University, 2002
- LL.M., University College London, 2003
- B.A., University of California, San Diego, 1999 (cum laude)
Admissions
- California
- District of Columbia