Combines encyclopedic knowledge of legal requirements and in-depth understanding of the regulatory environment with strong business acumen.Legal 500
Jeffrey P. Naimon
Partner
Biography
Jeff Naimon has more than 25 years of experience assisting bank and nonbank financial services providers (and investors in same) with regulatory, enforcement and transactional matters.
Combines encyclopedic knowledge of legal requirements and in-depth understanding of the regulatory environment with strong business acumen.Legal 500
In The News
Jeffrey P. Naimon quoted in S&P Global article, “Banks scrutinizing their lending practices as DOJ cracks down on redlining”
The S&P Global article, “Banks scrutinizing their lending practices as DOJ cracks down on redlining,” examined the Department of Justice’s increased efforts to combat lending discrimination and redlining as well as lenders’ responses. The agency is not only focused on lending operations, but...
In The NewsJeffrey P. Naimon extensively quoted in S&P Global article, “Community banks face regulatory, competitive pressures to alter overdraft policy”
The S&P Global article, “Community banks face regulatory, competitive pressures to alter overdraft policy,” discusses how the FDIC’s focus on overdraft activity has trickled down to community banks, causing them to reassess their practices. Naimon said that because the view of overdraft fees is...
In The NewsJeffrey P. Naimon quoted in Law360 article, “Appraisals are latest front in anti-bias efforts for housing”
The Law360 article, “Appraisals are latest front in anti-bias efforts for housing,” examines recent administrative complaints and lawsuits filed against appraisers and lenders by minority homeowners, charging that their properties were significantly undervalued because of their race. These lawsuits...
In The NewsJeffrey P. Naimon quoted in American Banker article, “Why the CFPB is still writing its small-business data rule a decade later”
The American Banker article, “Why the CFPB is still writing its small-business data rule a decade later,” discussed the bureau’s proposed rule requiring companies to collect data on small-business lending. The rule has proven difficult to finish, but a recent court order required the bureau to...
In The NewsLegal 500 2022 recognizes 18 Buckley attorneys in five practice areas
“They treat their clients better than any other law firm I’ve experienced,” is what one respondent said about Buckley LLP to Legal 500, which ranked the firm as a top law firm in five categories and recognized 18 of its attorneys for its 2022 edition.
The publication recognized...
AnnouncementsJeffrey P. Naimon quoted in National Mortgage News article, “Mortgage statements may be subject to collection rules: 11th Circuit”
The National Mortgage News article, “Mortgage statements may be subject to collection rules: 11th Circuit,” discussed how a recent 11th Circuit Court of Appeals decision about the wording of monthly statements should serve as a warning to mortgage companies. In Daniels v. Select Portfolio Servicing...
In The NewsBuckley recognized by Chambers USA for consumer financial services, white collar, and fintech practices
Chambers USA named Buckley LLP a nationwide Band 1 firm in all consumer finance categories in its 2022 rankings, recognizing six of its partners in those practices. The firm received top recognition in Consumer Finance Compliance, Consumer Finance Litigation, and Consumer Finance...
AnnouncementsJeffrey P. Naimon quoted in American Banker article, “Bankers fear CFPB will lower cap on credit card late fees”
The American Banker article, “Bankers fear CFPB will lower cap on credit card late fees,” discussed the bureau’s desire to seek a lower cap on credit card late charges as a safeguard to cardholders despite credit card companies being within the maximum limits allowed under the CARD Act. Naimon...
In The NewsJeffrey P. Naimon quoted in S&P Global article, “Expanded anti-discrimination guidelines create compliance challenge for US banks”
The S&P Global article, “Expanded anti-discrimination guidelines create compliance challenge for US banks,” discussed the heightened anti-discrimination regulations surrounding all consumer financial markets and the difficulty it has caused for banks. While many are praising the CFPB for...
In The NewsJeffrey P. Naimon quoted in National Mortgage News article, “FHA taking state AG concerns about servicers ‘very seriously’”
The National Mortgage News article, “FHA taking state AG concerns about servicers ‘very seriously,’” explored HUD’s concern regarding allegations by a group of attorneys general that some mortgage servicers failed to offer a recently added Federal Housing Administration Covid-19 modification option...
In The NewsJeffrey P. Naimon quoted in American Banker article, “PNC, KeyCorp upgrade collections tech as CFPB deadline nears”
The American Banker article, “PNC, KeyCorp upgrade collections tech as CFPB deadline nears,” explored how some banks have already shifted their collection practices from phone calls and letters to text an email in advance of certain Consumer Financial Protection Bureau rules set to take effect on...
In The NewsJeffrey P. Naimon quoted in American Banker article, “Can OCC nominee calm fears of bankers, Senate that she is too extreme?”
The American Banker article, “Can OCC nominee calm fears of bankers, Senate that she is too extreme?” examined the upcoming, and what promises to be contentious, nomination hearing of Saule Omarova, President Biden’s pick for comptroller of the currency. Omarova, a Cornell University law professor...
In The NewsJeffrey P. Naimon quoted in National Mortgage News article, “FDIC proposes new insurance calculations for servicing advances”
Jeff Naimon was quoted in the National Mortgage News article, “FDIC proposes new insurance calculations for servicing advances,” regarding the agency’s plan to add principal and interest funds advanced by a servicer to borrower coverage calculations. Naimon offered that it will “be a source of...
In The NewsJeffrey P. Naimon quoted in American Banker article, “Harsher rules, more enforcement: What to expect from Chopra's CFPB”
Jeffrey P. Naimon was quoted in the American Banker article, “Harsher rules, more enforcement: What to expect from Chopra's CFPB,” which discussed what the Consumer Financial Protection Bureau will look like under the bureau’s new Director Rohit Chopra, as well as what Acting Director Dave Uejio...
In The NewsJeffrey P. Naimon quoted in American Banker article, “Can banks allay concerns about emerging student loan product?”
The American Banker article, “Can banks allay concerns about emerging student loan product?” discussed the conflicting views surrounding banks’ involvements in income-share agreements. Naimon noted that funding income-share agreements could help the product mature and improve compliance with...
In The NewsJeffrey P. Naimon quoted in American Banker article, “Banking regulators expected to advance Biden agenda despite 'acting' tag”
The American Banker article, “Banking regulators expected to advance Biden agenda despite 'acting' tag,” discussed the many vacancies at financial regulatory agencies and whether it prevents the Biden administration from advancing its policy agenda. Naimon noted, “The officials appointed as acting...
In The NewsJeffrey P. Naimon quoted in S&P Global Market Intelligence article, “Lenders see new CFPB foreclosure rule as win-win”
Jeffrey P. Naimon was quoted in the S&P Global Market Intelligence article, “Lenders see new CFPB foreclosure rule as win-win,” which discussed how lenders are praising the new CFPB guidance giving millions of homeowners added protections against foreclosure. Naimon noted some challenges: “I'm...
In The NewsJeffrey P. Naimon quoted in American Banker article, "Calabria's ouster at FHFA sets stage for Biden to remake housing policy”
Jeffrey P. Naimon discussed in the American Banker article, “Calabria's ouster at FHFA sets stage for Biden to remake housing policy,” the removal of Mark Calabria as Federal Housing Finance Agency director and how this benefits the Biden administration. He noted, “Calabria has very distinct and...
In The NewsJeffrey P. Naimon quoted in American Banker article, “Banks, consumer advocates unite against tax reporting proposal”
The American Banker discussed in their article, “Banks, consumer advocates unite against tax reporting proposal,” that the financial industry is opposed to the Biden administration’s plan — which would require financial institutions to report customers’ account flow data to the Internal Revenue...
In The NewsLegal 500 2021 recognizes 17 Buckley attorneys in six practice areas
“While some firms will provide lengthy and expensive legal analysis, Buckley’s team relies on their depth and breadth of expertise to provide useful guidance from various team members quickly and efficiently,” a respondent told Legal 500, which ranked Buckley LLP as a top law firm and...
AnnouncementsBuckley recognized by Chambers USA for consumer financial services, white collar practices
Chambers USA named Buckley LLP a nationwide Band 1 firm in all consumer finance categories in its 2021 rankings, recognizing nine of its partners in those practices — more than any other firm in the country. The firm received top recognition in Consumer Finance Compliance, Consumer...
AnnouncementsJeffrey P. Naimon quoted in HousingWire article, “The CFPB is coming for you: Here’s how to prepare”
The HousingWire article, “The CFPB is coming for you: Here’s how to prepare,” quoted Jeffrey P. Naimon and provided coverage of his "Post-pandemic CFPB exam preparation" session at the Mortgage Bankers Association Spring Conference & Expo. Naimon said that the Consumer Financial Protection...
In The NewsJeffrey P. Naimon quoted in American Banker article, “Whose American dream?”
The American Banker article, “Whose American dream?” examined the barriers to home ownership and the challenges faced by banks in making loans. The article noted how, following the financial crisis, regulators revised how they evaluated banks’ capital adequacy, and the Fed’s stress testing regime...
In The NewsJeffrey P. Naimon quoted in American Banker article, "OCC’s ‘fair access’ rule could be short-lived under Biden”
The American Banker article, “OCC’s ‘fair access’ rule could be short-lived under Biden,” discussed the likelihood that the Office of the Comptroller of the Currency’s fair access rule will be repealed or abolished altogether under a Biden-appointed comptroller. Naimon noted, “There's a reasonably...
In The NewsJeffrey P. Naimon quoted in VIXIO Payments Compliance article, “PayPal court win could pave the way for further reform"
Jeffrey P. Naimon was quoted on January 11 in a VIXIO Payments Compliance article, “PayPal court win could pave the way for further reform." The article examined how a recent ruling against the Consumer Financial Protection Bureau focused attention on the outdated patchwork of legislation under...
In The NewsJeffrey P. Naimon quoted in American Banker article, "A Biden CFPB could put pressure on mortgage servicers”
Jeffrey P. Naimon was quoted in an American Banker article, "A Biden CFPB could put pressure on mortgage servicers,” which discussed how mortgage servicers could face increased scrutiny in 2021 as federal and state agencies are expected to exert pressure on lenders that fail to work with borrowers...
In The NewsJeffrey P. Naimon extensively quoted in Bobsguide article, “Bank-fintech relationships in the dark until US election results declared”
Jeffrey P. Naimon was extensively quoted on November 3, 2020, in a Bobsguide article, “Bank-fintech relationships in the dark until US election results declared,” which discussed the Office of the Comptroller of the Currency’s true lender rule for bank-nonbank lending relationships that could face...
In The NewsJeffrey P. Naimon extensively quoted in American Banker article, “Bankers urge extension of CARES Act reg relief”
Jeffrey P. Naimon was extensively quoted on September 18, 2020 in an American Banker article, “Bankers urge extension of CARES Act reg relief,” which discussed the fast-approaching expiration of the regulatory relief provided by the CARES Act, and the urgency from banks to provide an extension...
In The NewsJeffrey P. Naimon quoted in National Mortgage News article, “HUD finalizes contentious revamp of fair lending rule with one tweak”
Jeffrey P. Naimon was quoted on September 9, 2020, in a National Mortgage News article, “HUD finalizes contentious revamp of fair lending rule with one tweak,” which discussed the Department of Housing and Urban Development finalized interpretation of the Fair Housing Act's disparate impact. Naimon...
In The NewsJeffery P. Naimon quoted in American Banker article, “PPP lenders nearing $10B asset mark fear regulatory nightmare”
Jeffery P. Naimon was quoted on September 3, 2020, in an American Banker article, “PPP lenders nearing $10B asset mark fear regulatory nightmare,” which discussed concern from bank lenders that participation in the government's Paycheck Protection Program will trigger new regulations. Naimon noted...
In The NewsJeffrey P. Naimon quoted in Bobsguide article, “US fintechs could look “seriously” at banking charters amidst OCC uncertainty”
Jeffrey P. Naimon was quoted extensively on August 21, 2020, in a bobsguide article, “US fintechs could look “seriously” at banking charters amidst OCC uncertainty,” which explored how a charter issued to digital bank Varo might signal an industry shift. Naimon noted, “It is unclear whether the...
In The NewsJeffrey P. Naimon quoted in American Banker article, “Why an OCC payments charter may not become reality”
Jeffrey P. Naimon was quoted on August 5, 2020, in an American Banker article, “Why an OCC payments charter may not become reality,” which discussed the acting comptroller of the currency’s plans to craft a potential charter tailored for payments companies, and the distinctions between a federal...
In The NewsJeffrey P. Naimon quoted in Law360 article, “NY, Calif. and Ill. sue to block OCC's valid-when-made rule"
Jeffrey P. Naimon was quoted on July 29, 2020, in a Law360 article, “NY, Calif. and Ill. sue to block OCC's valid-when-made rule,” which discussed three states that sued the Office of the Comptroller of the Currency over its valid-when-made rule, saying the rule would expand federal preemption and...
In The NewsJeffrey P. Naimon quoted in Law360 article, “CFPB settlement would reduce $3.8M sanction to just $22K”
Jeffrey P. Naimon was quoted on July 9, 2020 in a Law360 article, “CFPB settlement would reduce $3.8M sanction to just $22K,” which discussed a pending settlement involving the Consumer Financial Protection Bureau and a student loan debt-relief company that would significantly reduce a proposed $3...
In The NewsJeffrey P. Naimon extensively quoted in American Banker article, “FHFA leadership structure on shaky ground after CFPB ruling”
Jeffrey P. Naimon was extensively quoted on July 2, 2020 in an American Banker article, “FHFA leadership structure on shaky ground after CFPB ruling,” which discussed the Supreme Court's ruling that the single-director structure at the Consumer Financial Protection Bureau is unconstitutional, and...
In The NewsLegal 500 2020 recognizes 21 Buckley attorneys in six practice areas
“Buckley attorneys are incredibly responsive while providing top quality legal services,” is how respondents described the firm in the 2020 edition of Legal 500, which ranked Buckley as a top law firm and recognized it in six categories:
- Corporate Investigations and White ...
Jeffrey P. Naimon quoted in American Banker article, “As Democrats urge pause in bank rules, GOP says hurry up”
Jeffrey P. Naimon was quoted on May 27, 2020 in an American Banker article, “As Democrats urge pause in bank rules, GOP says hurry up,” which discussed the differing party views on bank regulation amid the upcoming election. Naimon noted, “This happens in the run-up to any election because...
In The NewsBuckley recognized by Chambers USA as a “top-notch” firm in financial services and white collar work
Buckley has once again received top recognition in financial services regulation, white collar crime/government investigations, and fintech from Chambers USA, which ranks the country’s leading firms and lawyers in a range of practice areas based on research and client interviews....
AnnouncementsJeffrey P. Naimon quoted in American Banker article, “CFPB rulemaking engine churns on through coronavirus”
Jeffrey P. Naimon was quoted on April 15, 2020 in an American Banker article, “CFPB rulemaking engine churns on through coronavirus,” which discussed the Consumer Financial Protection Bureau’s plan to move forward with rulemaking despite the industry’s shifted focus on the economy during the...
In The NewsJeffrey P. Naimon quoted in Wall Street Journal article, “On small business stimulus, banks strike a balance between speed and prudence”
Jeffrey P. Naimon was quoted on April 10, 2020 in a Wall Street Journal article, “On small business stimulus, banks strike a balance between speed and prudence,” which discussed how banks are doing more due diligence than the Paycheck Protection Program requires due to concerns of regulatory...
In The NewsJeffrey P. Naimon quoted in PaymentsJournal article, “Credit card interest rates: Mandated federal interest rates won’t work”
Jeffrey P. Naimon was quoted on March 9, 2020 in a PaymentsJournal article, “Credit card interest rates: Mandated federal interest rates won’t work,” which discussed the controversy over a national interest rate cap. Naimon noted, “Although we can understand why some people think it’s inappropriate...
In The NewsJeffrey P. Naimon quoted in American Banker article, “Will the U.S. ever enact a national interest rate cap?”
Jeffrey P. Naimon was quoted on March 5, 2020 in an American Banker article, “ Will the U.S. ever enact a national interest rate cap?” which discussed a proposals to create a 36% interest rate cap on consumer loans at the national level, and the arguments against such legislation. The article...
In The NewsJeffrey P. Naimon quoted in American Banker article, “Election 2020: Is nightmare scenario closer to reality for banks?”
Jeffrey P. Naimon was quoted on February 23, 2020 in an American Banker article, “Election 2020: Is nightmare scenario closer to reality for banks?” which discussed Senator Bernie Sanders’ rise to front-runner in the race for the Democratic presidential nomination, and the potential threat a...
In The NewsBuckley files amicus brief in CFPB constitutionality case
Buckley LLP on Dec. 16 filed an amicus brief on behalf of the Mortgage Bankers Association, the National Association of Home Builders, and the National Association of...
AnnouncementsJeffrey P. Naimon quoted in American Banker article, “How much should banks fear a Democratic victory in 2020?”
Jeffrey P. Naimon was quoted on November 17, 2019 in an American Banker article, “How much should banks fear a Democratic victory in 2020?” which discussed that despite the aggressive stances of some Democrats running for president, the election of a progressive candidate is unlikely to result in...
In The NewsJeffrey P. Naimon quoted in American Banker article, “What CFPB’s day in court will mean for FHFA”
Jeffrey P. Naimon was quoted on November 4, 2019 in an American Banker article, “What CFPB’s day in court will mean for FHFA,” which discussed how the leadership structures at both the Consumer Financial Protection Bureau and Federal Housing Finance Agency are under scrutiny and how the outcome of...
In The NewsJeffrey P. Naimon quoted in American Banker article, “Would a Democratic president fire CFPB's Kraninger?”
Jeffrey P. Naimon was quoted on September 12, 2019 in an American Banker article, “Would a Democratic president fire CFPB's Kraninger?” which explored the possibility of a Democratic victor in the presidential race being the first to mount a constitutional challenge to the agency's leadership. The...
In The NewsJeffrey P. Naimon quoted in Inside Mortgage Finance article, “Lenders turn to Appendix Q as QM ‘patch’ nears end”
Jeffrey P. Naimon was quoted on August 22, 2019 in an Inside Mortgage Finance article, “Lenders turn to Appendix Q as QM ‘patch’ nears end,” which discussed how the pending expiration of the qualified mortgage “patch” has prompted the mortgage industry to seek an overhaul of standards critical for...
In The NewsJeffrey P. Naimon quoted in a Law360 article, “CFPB's plan to tear off mortgage 'patch' risks market unrest”
Jeffrey P. Naimon was quoted on July 30, 2019 in a Law360 article, “CFPB's plan to tear off mortgage 'patch' risks market unrest,” which discussed the Consumer Financial Protection Bureau’s plan to end the GSE patch that has unfairly privileged Fannie Mae and Freddie Mac, and how to do so without...
In The NewsJeffrey P. Naimon quoted in American Banker article, “SCOTUS ruling means less deference for bank regulators in court”
Jeffrey P. Naimon was quoted on July 4, 2019 in an American Banker article, “SCOTUS ruling means less deference for bank regulators in court,” which discussed the Supreme Court ruling on the Kisor v. Wilkie case that could put limitations on how federal banking regulators issue and interpret their...
In The NewsThe Legal 500 2019 recognizes 17 Buckley attorneys in five practice areas
The Legal 500 once again ranked Buckley as a top law firm and recognized it in five categories:
- Corporate Investigations and White Collar Criminal Defense: Corporate – Tier 4
- Corporate Investigations and White Collar Criminal Defense: Individuals – Tier 2 ...
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...
AnnouncementsJeffrey P. Naimon quoted in American Banker article, “Why Kraninger's CFPB is mandating fewer consumer refunds”
Jeffrey P. Naimon was quoted on February 20, 2019 in an American Banker article, “Why Kraninger's CFPB is mandating fewer consumer refunds,” which discussed how the Consumer Financial Protection Bureau appears to be shifting away from requiring financial institutions to refund customers in response...
In The NewsJeffrey P. Naimon quoted in an American Banker article, “Government shutdowns add new wrinkle to credit bureau reform”
Jeffrey P. Naimon was quoted on February 11, 2019 in an American Banker article, “Government shutdowns add new wrinkle to credit bureau reform,” which discussed an effort to reform the credit bureaus due to the effects on federal workers and consumers during the government shutdown, and the...
In The NewsBuckley 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 ReleasesJeffrey P. Naimon quoted in American Banker article, “CFPB faces legal minefield in crafting rule on small-business loan data”
Jeffrey P. Naimon was quoted on September 21, 2018 in an American Banker article, “CFPB faces legal minefield in crafting rule on small-business loan data,” which discussed a report from the Consumer Financial Protection Bureau that discusses the issues regulators are facing as they consider asking...
In The NewsBuckley Sandler and its founding profiled in Law360
The firm was profiled in a Law360 article, "Too small to fail?" which discussed the creation of Buckley Sandler and its success over the past decade. Click here to read the full article . Originally published in Law360; reprinted with permission.
In The NewsJeffrey P. Naimon quoted in Scotsman Guide article, “HUD could soon defang disparate-impact rule”
Jeffrey P. Naimon was quoted on September 5, 2018 in a Scotsman Guide article, “HUD could soon defang disparate-impact rule,” which discussed the banking industry urging the U.S. Department of Housing and Urban Development to establish a higher bar for the use of disparate impact. The article...
In The NewsJeffrey P. Naimon quoted in Inside Mortgage Finance article, “Will CFPB abandon or limit the use of disparate impact?”
Jeffrey P. Naimon was quoted on September 3, 2018 in an Inside Mortgage Finance article, “Will CFPB abandon or limit the use of disparate impact?” which discussed how the Consumer Financial Protection Bureau is expected to view the disparate impact theory under the Trump administration. The article...
In The NewsJeffery P. Naimon quoted in American Banker article, “Bill to enhance poor credit scores will backfire, critics say”
Jeffery P. Naimon was quoted on July 30, 2018 in an American Banker article, “Bill to enhance poor credit scores will backfire, critics say,” which discussed the legislation to allow consumers to include monthly billing data to enhance their credit scores, and whether this legislation will...
In The NewsJeffrey P. Naimon quoted in American Banker article, “Kavanaugh’s skepticism of regulatory power seen as boon for banks”
Jeffrey P. Naimon was quoted on July 11, 2018 in an American Banker article, “Kavanaugh’s skepticism of regulatory power seen as boon for banks,” which discussed Brett Kavanaugh, President Trump’s nominee for Supreme Court justice, and Kavanaugh’s views on issues that could positively impact on the...
In The NewsThe Legal 500 2018 recognizes five practice areas and 17 attorneys at Buckley Sandler
Buckley Sandler LLP again has been noted as one of the nation’s top law firms by The Legal 500 in its 2018 rankings, with recognition in five practice areas:
- Financial Services: Litigation
- Financial Services: Regulation
- Corporate ...
Buckley 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...
AnnouncementsJeffrey P. Naimon quoted in American Banker article, “Treasury watchdog subpoenas Google to identify whistleblower”
Jeffrey P. Naimon was quoted on April 4, 2018 in an American Banker article, “Treasury watchdog subpoenas Google to identify whistleblower,” which discussed the investigation by the Treasury Department’s office of the inspector general to identify an employee within the Office of Financial Research...
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 NewsBest Lawyers in America Recognizes 11 Buckley Sandler Partners for 2018
Buckley Sandler is pleased to announce that 11 of its partners have been recognized by their peers for inclusion in Best Lawyers in America® 2018.
Partners Jeremiah S. Buckley,...
AnnouncementsThe Legal 500 2017 Recognizes Four Practice Areas and 20 Attorneys at Buckley Sandler
Buckley Sandler has again been cited as one of the nation’s top law firms by The Legal 500 in its 2017 rankings, with the recognition of four practice areas:
- Financial Services: Litigation
- Financial Services: Regulatory
- Cyber Law (Data Protection and ...
Jeff Naimon Quoted in Law360 Article, "Ruling Opens Door to CFPB Enforcement of State Usury Laws"
Jeff Naimon was quoted in Evan Weinberger's Law360 article, "Ruling Opens Door to CFPB Enforcement of State Usury Laws," on September 2, 2016. Although the ruling is only at the district court level, it could have a major impact on the way banks, financial technology firms like marketplace lenders...
In The NewsBest Lawyers in America Recognizes Eight Buckley Sandler Partners in 2017 List
BuckleySandler is pleased to announce that eight of its partners have been recognized by their peers for inclusion in Best Lawyers in America® 2017 in nine categories, and Jeremiah Buckley has been named a Lawyer of the Year in Litigation - Banking and Finance for Washington, DC. Partners Andrew L...
Press ReleasesLegal 500 Recognizes Four Practice Areas and 14 Attorneys at Buckley Sandler in 2016 Rankings
Buckley Sandler LLP has again been noted as one of the nation’s top law firms, with recognition of four practice areas by The Legal 500 in its 2016 rankings: Financial Services: Litigation Financial Services: Regulatory Technology: Data Protection and Privacy White-Collar Criminal Defense In...
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 News23 Buckley Sandler Attorneys Named To 2016 Washington, DC Super Lawyers and Rising Stars Lists
Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The selection process is multi-phased and includes independent research, peer nominations, and peer evaluations. We are proud...
In The NewsJeffrey Naimon Quoted in American Banker Article, "Court Case Against the CFPB Hinges on These Four Issues"
Jeffrey Naimon was quoted in Kate Berry's American Banker article, "Court Case Against the CFPB Hinges on These Four Issues," on April 10, 2016. A federal appeals court has set the stage for yet another legal showdown over the Consumer Financial Protection Bureau's structure in a major test of the...
In The NewsBuckley Sandler Hosts Eighth Annual Fair Lending Today Conference
Buckley Sandler LLP hosted its eighth annual Fair Lending Today conference in Washington, DC on March 13-14, 2016. The two-day event featured an evening of interactive roundtable discussions on fair lending issues, followed by a full day of seminars. The sessions were led by Buckley Sandler...
In The NewsJeffrey Naimon Quoted in Inside Sources Article, "Uber, But for Banks: Wall Street Braces for Tech-Fueled Disruption"
Jeffrey Naimon was quoted in Carter Dougherty's Inside Sources article, "Uber, But for Banks: Wall Street Braces for Tech-Fueled Disruption," on Friday, January 15, 2016. Suddenly, Wall Street is facing its “Uber” moment. The nation’s big banks, still wounded by scandal, are looking to Washington...
In The NewsBuckley Sandler Hosts 2nd Annual CFPB Today Conference
Buckley Sandler LLP hosted its second annual CFPB Today conference in Washington, DC October 25-26, 2015. The two-day event featured an evening of interactive roundtable discussions on CFPB trends, followed by a full day of seminars and breakout sessions. The roundtables and seminars were led by...
Press ReleasesBuckley Sandler Files Amicus Curiae Brief on Behalf of Industry Group in RESPA Case; Marks First Appeal Against CFPB Director Decision
On October 5, 2015, Buckley Sandler attorneys filed an amicus curiae brief on behalf of the Consumer Mortgage Coalition (CMC) in the first case to come up on appeal to the District of Columbia Circuit since the CFPB was founded in 2011. In the CMC’s brief, Buckley Sandler attorneys argued that the...
Press ReleasesJeffrey Naimon Quoted in Law360 Article, "5 Cases Banks Will Be Watching In Next High Court Term"
Jeffrey Naimon was quoted in Evan Weinberger's Law360 article, "5 Cases Banks Will Be Watching in Next High Court Term," on Friday, September 18, 2015. The Supreme Court is poised to answer a long-standing question over whether the Fair Credit Reporting Act gives plaintiffs the right to sue a...
In The NewsJeffrey Naimon Quoted in American Banker Article, "New Military Lending Rules Cover More Credits, Ban Arbitration"
Jeffrey Naimon was quoted in Kevin Wack's American Banker article, "New Military Lending Rules Cover More Credits, Ban Arbitration," on July 21, 2015. In the last two months, Bank of America and JPMorgan Chase have each been assessed $30 million civil money penalties for alleged violations of the...
In The NewsJeffrey Naimon Quoted in Law360 Article, "New Guidelines for Bad FHA Loans Won't Boost Lending"
Jeffrey Naimon was quoted in Evan Weinberger's Law360 article, "New Guidelines for Bad FHA Loans Won't Boost Lending," on June 19, 2015. The federal government on Thursday provided lenders with a streamlined framework for how it determines whether the Federal Housing Administration must be paid for...
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 ReleasesJeffrey Naimon Quoted in American Banker Article, "Banks Stir Controversy in Push to Exempt Portfolio Loans from QM
Jeffrey Naimon was quoted in Kate Berry’s American Banker article, “Banks Stir Controversy in Push to Exempt Portfolio Loans from QM,” on Friday, May 1, 2015. Jeffrey Naimon, an attorney at Buckley Sandler LLP, said banks are punished enough if a loan defaults because the ability-to-repay rule...
In The News22 Buckley Sandler Attorneys Named to 2015 Washington, DC Super Lawyers and Rising Stars Lists
Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The selection process is multi-phased and includes independent research, peer nominations, and peer evaluations. We are proud...
Press ReleasesBuckley Sandler Hosts Annual Fair Lending Today Conference
Buckley Sandler LLP hosted its annual Fair Lending Today conference in Washington, DC, March 15-16, 2015. The two-day event featured an evening of interactive roundtable discussions on fair lending issues, followed by a full day of seminars. The roundtables and seminars were led by Buckley Sandler...
Press ReleasesJeffrey Naimon Quoted in Law360 Article, "Attorneys React to High Court's Agency Rule-Making Decision"
Jeffrey Naimon was quoted in Alan Zibel’s Law360 article, “Attorneys React to High Court’s Agency Rule-Making Decision,” on Monday, March 9, 2015. “ Perez v. Mortgage Bankers puts a focus on regulatory agencies’ ability to shift course on critical legal requirements stated in informal guidance and...
In The NewsJeffrey Naimon Quoted in Law360 Article, "Supreme Court Sets Lenders Up for More Rescission Fights"
Jeffrey Naimon was quoted in Evan Weinberger's Law360 article, "Supreme Court Sets Lenders Up For More Rescission Fights," on Tuesday, January 13, 2015. In a unanimous decision, the high court ruled that the Truth In Lending Act gives homeowners three years from the time they close on their...
In The NewsJeffrey Naimon Quoted in Reverse Mortgage Daily Article, "The Opportunity Behind the CFPB's Consumer Complaint Database"
Jeffrey Naimon were quoted in Cassandra Dowell's Reverse Mortgage Daily article, titled "The Opportunity Behind the CFPB's Consumer Complaint Database," on December 8, 2014. The Consumer Financial Protection Bureau (CFPB) recently published a notice that the bureau is developing a form to allow...
In The NewsJeffrey Naimon Quoted in Law360 Article, "Anti-Foreclosure Efforts Could Get Boost In High Court Case"
Jeffrey Naimon was quoted in Evan Weinberger's Law360 article, "Anti-Foreclosure Efforts Could Get Boost In High Court Cases," on November 17, 2014. “The [U.S. Department of the Treasury] personnel working on the foreclosure crisis would like there to be an easy way to deal with foreclosures,"...
In The NewsJeffrey Naimon Quoted in Law360 Article, "New Mortgage Rules Complicate Fannie, Freddie Endgame"
Jeffrey Naimon was quoted in Evan Weinberger's Law360 article, "New Mortgage Rules Complicate Fannie, Freddie Endgame," on October 22, 2014. Exempting government-backed securitizations from risk-retention requirements and pending FHFA changes may further hamper already stalled legislative efforts...
In The NewsBuckley Sandler Hosts Inaugural CFPB Today Conference
Buckley Sandler LLP hosted its inaugural CFPB Today conference in Washington, DC October 5-6, 2014. The two-day event featured an evening of interactive roundtable discussions on CFPB trends, followed by a full day of seminars. The roundtables and seminars were led by approximately 30 Buckley...
In The NewsBuckley Sandler Files Amici Curiae Brief on Behalf of Industry Groups in Supreme Court TILA Case
On September 17, Buckley Sandler filed an amici curiae brief on behalf of six industry associations in a Supreme Court case addressing the right to rescind a transaction under the Truth in Lending Act (TILA). In Jesinoski v. Countrywide , No. 13-684, the Court will consider whether borrowers must...
In The NewsEight Buckley Sandler Partners Listed in Best Lawyers in America 2015; Andrew L. Sandler Named a Lawyer of the Year
Buckley Sandler is pleased to announce that eight of its partners have been recognized by their peers for inclusion in Best Lawyers in America ® 2015 in multiple categories, and Andrew L. Sandler has been named a Lawyer of the Year in Litigation - Banking and Finance for Washington, DC. Partners...
Press ReleasesJeffrey Naimon Quoted in Wall Street Journal Article, "Court Ruling Unlikely to Affect U.S. Consumer Regulator"
Jeff Naimon was quoted in the Wall Street Journal article, "Court Ruling Unlikely to Affect U.S. Consumer Regulator" on June 26, 2014. Plus, lenders have spent millions of dollars and countless hours to update their systems for the CFPB's mortgage rules. Few would want to backtrack on that work,...
In The NewsChambers USA Recognizes Buckley Sandler For Its Highly Impressive Presence in the Financial Services Field
WASHINGTON, DC (May 27, 2013) Buckley Sandler LLP , a nationally recognized financial services and criminal and civil enforcement defense law firm, is pleased to announce that the firm and 11 of its partners have received top rankings in Chambers USA , which ranks leading firms and lawyers in a...
Press Releases22 Buckley Sandler Attorneys Named to 2014 Washington, DC Super Lawyers and Rising Stars Lists
Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high-degree of peer recognition and professional achievement. The selection process is multi-phased and includes independent research, peer nominations and peer evaluations. In 2014,...
In The NewsSeven Buckley Sandler Partners Listed in Best Lawyers 2014
Buckley Sandler LLP is pleased to announce that seven of its partners have once again been recognized by their peers for inclusion in Best Lawyers® 2014 in multiple categories. Partners Andrew L. Sandler , Samuel J. Buffone, Benjamin B. Klubes , David S. Krakoff , Christopher F. Regan , Jeremiah S...
Press ReleasesBuckley Sandler Noted as "One of the Most Enterprising Firm in the Financial Services Sector" by Chambers USA
WASHINGTON, DC (May 31, 2013) Buckley Sandler LLP, a nationally recognized financial services and criminal and civil enforcement defense law firm, is pleased to announce that the firm and eight of its partners have once again received top rankings in Chambers USA , which ranks leading firms and...
In The NewsBuckley Sandler Files TILA Amicus Curiae Briefs on Behalf of Industry Groups
Buckley Sandler has filed several amicus curiae briefs on behalf of the American Bankers Association, Consumer Bankers Association, and Consumer Mortgage Coalition. The briefs, filed in response to several closely watched Truth in Lending (TILA) lawsuits, consider whether a borrower may file a suit...
In The NewsBuckley Sandler Noted for Its Impressive Enforcement & Litigation Talent by Chambers USA
Firm Receives Top Ranking in Financial Services Regulation Categories WASHINGTON (June 8, 2012) Buckley Sandler LLP , a nationally recognized financial services and criminal and civil enforcement defense law firm, is pleased to announce that the firm and eight of its partners have received top...
In The NewsBuckley Sandler Advises EverBank on Acquisition of MetLife Bank's Warehouse Finance Business
EverBank announced today it has reached an agreement to acquire MetLife Bank's Warehouse Finance business. Financial terms of the transaction were not disclosed. The acquisition, which is expected to close in the first half of 2012, will leverage EverBank's residential lending expertise and...
In The NewsLegal 500 Recognizes Four Practice Areas and 14 Attorneys at BuckleySandler in 2016 Rankings
BuckleySandler LLP has again been noted as one of the nation’s top law firms, with recognition of four practice areas by The Legal 500 in its 2016 rankings: Financial Services: Litigation Financial Services: Regulatory Technology: Data Protection and Privacy White-Collar Criminal Defense In...
Press Releases23 BuckleySandler Attorneys Named To 2016 Washington, DC Super Lawyers and Rising Stars Lists
Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The selection process is multi-phased and includes independent research, peer nominations, and peer evaluations. We are proud...
Press ReleasesBuckleySandler Hosts Eighth Annual Fair Lending Today Conference
BuckleySandler LLP hosted its eighth annual Fair Lending Today conference in Washington, DC on March 13-14, 2016. The two-day event featured an evening of interactive roundtable discussions on fair lending issues, followed by a full day of seminars. The sessions were led by BuckleySandler attorneys...
Press ReleasesBuckleySandler Noted As "One of the Most Significant Consumer Finance and Banking Enforcement Firms in the US Market" By Chambers USA
BuckleySandler 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...
Press Releases
Publications
"U.S. Court of Appeals for the Fifth Circuit finds Consumer Financial Protection Bureau’s funding unconstitutional. Now what?" by John R. Coleman, Marshall T. Bell, and Jeffrey P. Naimon (JFAA)
A panel of three Fifth Circuit judges has unanimously held that the CFPB funding structure created by Congress violated the Appropriations Clause of the Constitution, which provides that “no money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law.” The panel ruled...
Articles"CFPB revises UDAAP manual to include discriminatory practices" by Sasha Leonhardt, Jeffrey P. Naimon, and John R. Coleman (The Banking Law Journal)
The Consumer Financial Protection Bureau (“CFPB”) has announced significant revisions to its Unfair, Deceptive, or Abusive Acts or Practices (“UDAAP”) exam manual, in particular highlighting the CFPB’s view that its broad authority under UDAAP allows it to address discriminatory conduct in the...
Articles"The pendulum always swings twice: Disparate impact under the Obama, Trump, and Biden administrations" by Jeffrey P. Naimon and Sasha Leonhardt (American Bar Association Consumer Financial Services Committee Newsletter)
For over forty years, courts took the lead on interpreting the Fair Housing Act’s (“FHA’s”) prohibition on discriminatory housing practices, including home mortgage lending. While different administrations have varied as to whether the Supreme Court’s disparate impact theory from the Griggs v. Duke...
Articles"What the new information security reporting standards mean for financial institutions" by Jeffrey P. Naimon and James C. Chou (Cybersecurity Law Report)
Regulators recently proposed new rules that would require banking institutions to notify their primary regulators of some computer-security incidents within 36 hours, and service providers to notify regulated entities as soon as possible of any incident affecting its operations for four hours or...
Articles"CFPB order offers insight into pandemic mortgage servicing" by Jeffrey P. Naimon (Law360)
The U.S. Consumer Financial Protection Bureau in December issued a consent order based on alleged violations of its 2014 mortgage servicing regulations. The consent order, which also bootstraps claims of unfairness and deception to alleged technical violations of the servicing regulations —...
Articles"CFPB credit stance has broad specialty finance implications" by Jeffrey P. Naimon (Law360)
The Consumer Financial Protection Bureau issued an advisory opinion at the end of November that could compel specialty-finance companies — including those offering income-share agreements, litigation funding, merchant cash advances and earned wage access products — to take a fresh look at whether...
Articles"After storm and fire: How states protect service members" by Jeffrey P. Naimon and Sasha Leonhardt (Law360)
This has been an active year for National Guard call-ups to active duty, as the U.S. addresses hurricanes, wildfires and the novel coronavirus pandemic. National Guard activations are likely to remain high for several months due to ongoing responses to COVID-19, the National Oceanic and Atmospheric...
Articles"School of hard knocks: Federal student loan servicing and the looming federal student loan crisis" by Jeffrey P. Naimon, Sasha Leonhardt, and Sarah B. Meehan (American University Administrative Law Review)
Nearly forty-three million Americans collectively owe $1.5 trillion in outstanding student loan debt. Of that, approximately ten percent of student loan debt is over ninety days delinquent or in default, while the actual delinquency rate is estimated to likely be double this amount due to the fact...
Articles"Ruling on anti-hacking law may guide fair lending tests" by Jeffrey P. Naimon (Law360)
Regulators, consumer groups, academics and private litigants are grappling with the fair lending implications of the credit models powering the explosive growth in online lending by banks and financial technology firms. The U.S. District Court for the District of Columbia in late March concluded...
Articles"HUD’s disparate impact proposal clarifies fair lending laws" by Jeffrey P. Naimon (Law360)
The U.S. Department of Housing and Urban Development last month released its long-anticipated proposal to revise its disparate impact rule under the Fair Housing Act. Although the proposal has attracted some criticism from those who believe the proposal would make it more difficult for plaintiffs...
Articles"Dorian update: How state laws protect servicemembers" by Jeffrey P. Naimon and Sasha Leonhardt (Law360)
Hurricane Dorian devastated the Bahamas and southeastern United States in late August and early September, and the governors of Florida, Georgia, North Carolina, South Carolina and Puerto Rico authorized the activation of state National Guard forces for response efforts. In addition, the Rhode...
Articles"Takeaways from military member complaints at CFPB" by Jeffrey P. Naimon, Sasha Leonhardt, and Christina R. Smith (Law360)
The Consumer Financial Protection Bureau ’s Office of Servicemember Affairs recently released a report highlighting issues facing military consumers based on complaints submitted by service members, veterans and their families. This report identifies categories and trends among the approximately 48...
Articles"Hurricane Florence: How state laws protect service members" by Jeffrey P. Naimon and Sasha Leonhardt (Law360)
As the southeastern United States braces for Hurricane Florence, the governors of North Carolina, South Carolina and Virginia have authorized their state National Guard for response efforts, and neighboring governors in Maryland and West Virginia have placed their National Guard members on notice...
Articles"Mortgage pricing scrutiny poses new challenges for lenders" by Jeffrey P. Naimon (Law360)
Notwithstanding the dramatic expansion of consumer financial protection regulation in the wake of the financial crisis and the Dodd-Frank Act, most would still agree with the general principle that markets, not regulations, should determine the prices that consumers pay for taking a loan. But...
ArticlesJeffrey P. Naimon and Jon David D. Langlois Authored a Law360 Article, "Ignore Borrower Preference In Loss Mitigation? CFPB Says Yes"
Mortgage servicers should not listen to borrowers when it comes to loss mitigation. At least, that’s what the Consumer Financial Protection Bureau says. More specifically, servicers should disregard when a borrower tells the servicer they do not want to keep their home. Officially, this has been...
ArticlesJeffrey P. Naimon and Sasha Leonhardt Authored a Law360 Article, "Harvey Crisis: How State Laws Will Protect Servicemembers"
As Hurricane Harvey devastated Houston and southeastern Texas this past weekend, thousands of first responders were called to action to provide critical assistance to communities along the Gulf Coast. Even as this storm continues to affect those along the water and move inland, rescue operations,...
ArticlesJeffrey P. Naimon authored a Mortgage Compliance Magazine article, "Divide & Conquer"
The Consumer Financial Protection Bureau (CFPB or Bureau) continues to expand its gaze, announcing this past April that it has begun implementation of a program to directly supervise service providers of financial institutions, particularly those that cater to the mortgage industry. As regulatory...
ArticlesSpecial 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: More Turbulence for Marketplace Lending - CFPB Prevails in "True Lender" Litigation
After what seems to be an extended season of heavy weather for marketplace lending, a federal district court in California unleashed a late-Summer lightning storm in Consumer Financial Protection Bureau v. CashCall, Inc. In a CFPB action leveled against the so-called “tribal model” of online...
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: CFPB Releases Outline of Proposed Rule for Third Party Debt Collectors
On July 28, the CFPB announced that it is considering proposing a rule to “overhaul the debt collection market by capping collector contact attempts and by helping to ensure that companies collect the correct debt.” The CFPB released several related documents, including a report on third-party debt...
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...
ArticlesRedlining Cases in 2015 And A New Discrimination Standard
Limited access to mortgage credit for credit-impaired and low- and moderate-income (and, therefore, disproportionately minority) borrowers has become a significant public policy challenge in the post-financial crisis era. There are many reasons for this problem. Among them are mortgage lender...
ArticlesVendor Management in 2015 and Beyond
With evolving regulatory expectations and increased enforcement exposure, financial institutions are under more scrutiny than ever. Nowhere is this more evident than in the management and oversight of service providers. When service providers are part of an institution’s business practice,...
ArticlesCitizen, Soldier, Small Business Owner? Commercial Lending and the Servicemembers Civil Relief Act
The Servicemembers Civil Relief Act, 50 U.S.C.A. § 3901, provides certain protections to military servicemembers regarding their financial obligations. The act applies to virtually every type of debt that a service member may obtain. It provides benefits such as an interest rate cap and procedural...
ArticlesLandlords, Leases and The Servicemembers Civil Relief Act
As President Obama slows the drawdown of troops overseas — and as the nation expands its fight against ISIS — a growing number of service members will seek the benefits and protections of a nearly century-old law that protects them on the homefront while they serve on active duty: the...
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: Third Circuit Gives FTC Green Light to Continue Enforcing Corporate Data Security
Last week, the U.S. Court of Appeals for the Third Circuit affirmed the Federal Trade Commission’s authority to hold companies accountable for their data security practices under Section 5 of the FTC Act (15 U.S.C. § 45(a)), which declares unlawful “unfair or deceptive acts or practices in or...
ArticlesSpecial Alert: Second Circuit Will Not Rehear Madden Decision That Threatens to Upset Secondary Credit Markets
Two months ago we issued a Special Alert regarding the decision of the Court of Appeals for the Second Circuit in Madden v. Midland Funding, LLC, which held that a nonbank entity taking assignment of debts originated by a national bank is not entitled to protection under the National Bank Act (“NBA...
ArticlesMarketing Services Agreements: Reinterpreting the Wheel
Marketing services agreements (“MSAs”) have been standard mortgage industry practice for decades. While Section 8 of the Real Estate Settlement Procedures Act (“RESPA”) prohibits entities and individuals from giving or receiving “any fee, kickback, or thing of value” pursuant to an agreement to...
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: Second Circuit Decision Threatens to Upset Secondary Credit Markets
The Second Circuit Court of Appeals’ recent decision in Madden v. Midland Funding, LLC held that a nonbank entity taking assignment of debts originated by a national bank is not entitled to protection under the National Bank Act (“NBA”) from state-law usury claims. In reaching this conclusion, the...
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: CFPB Issues Statement on TRID Enforcement
On June 3, CFPB Director Cordray responded to requests from industry and members of Congress for delayed enforcement of the Bureau’s TILA-RESPA Integrated Disclosure (“TRID”) rule, which will take effect for applications received on or after August 1, 2015. The Bureau did not, as many had hoped,...
ArticlesWhy The Bailout Prevention Act May Be Unwise
On May 13, 2015, Sens. Elizabeth Warren, D-Mass., and David Vitter, R-La., introduced a bill in the United States Senate aimed at limiting the authority of the Board of Governors of the Federal Reserve System (the “Federal Reserve”) to provide emergency lending to financial institutions seeking...
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...
ArticlesA New Balancing Act: The DOJ Provides New Direction Regarding the SCRA's Interest Rate Benefit
When Congress reenacted the Servicemembers’ Civil Relief Act (“SCRA”) in 2003, Congress designed the SCRA to balance the interests of active duty servicemembers and their creditors, as it had done under the SCRA’s predecessor legislation. One of the benefits provided by the SCRA is a six-percent...
ArticlesSpecial Alert: CFPB States Supervisory Obligations Trump Nondisclosure Agreements
On January 27, the CFPB issued Compliance Bulletin 2015-01 to remind supervised financial institutions of their obligations concerning the disclosure of confidential supervisory information (CSI) to the CFPB and to third parties. Specifically, the Bulletin addresses the interaction between a...
ArticlesCaveat Emptor or Caveat Vendor? The Evolution of Unfairness in Federal Consumer Protection Law
Under the Federal Trade Commission’s original interpretation of unfair or deceptive acts or practices law, financial institutions could feel some sense of security that, if they provided a consumer with a clear understanding of a proposed transaction, the burden was on the consumer to determine...
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: Supreme Court Hears Oral Arguments on Fair Housing Act Disparate Impact Case
This morning, the Supreme Court heard oral arguments in Texas Department of Housing and Community Affairs v. The Inclusive Communities Project , in which Texas challenged the disparate impact theory of discrimination under the Fair Housing Act (FHA). Twice before, the Court granted certiorari on...
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: Class Action Suit Filed Based on CFPB Consent Order
In what may be the first action of its kind, a consumer who received restitution under the CFPB consent order has filed a class action lawsuit based on the same alleged violations. While this litigation is still in its early stages, it serves as an important reminder that an institution’s exposure...
ArticlesSpecial Alert: Proposed Amendments to the TRID Rule and Introducing Buckley's TRID Resource Center
Buckley 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's analysis of the TRID rule and the CFPB’s amendments, transcripts of CFPB webinars providing guidance on the...
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...
ArticlesBuckley Sandler Files Amici Curiae Brief on Behalf of Industry Groups in Supreme Court TILA Case
On September 17, Buckley Sandler filed an amici curiae brief on behalf of six industry associations in a Supreme Court case addressing the right to rescind a transaction under the Truth in Lending Act (TILA). In Jesinoski v. Countrywide , No. 13-684, the Court will consider whether borrowers must...
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...
ArticlesPom v. Coke Will Impact Financial Services Too
Legal and compliance departments, take note: the U.S. Supreme Court’s recent decision in Pom Wonderful LLC v.Coca-Cola Co. confirms that even if an institution’s conduct meets the specific requirements established by the federal agency responsible for implementing one federal consumer protection...
ArticlesSpecial Alert: VA Adopts Its QM Rule
On May 9, 2014, the Department of Veterans Affairs (VA) issued an interim final rule defining what constitutes a “qualified mortgage” (QM) for purposes of the loans it guarantees, insures, or originates. The VA stated that, to quell persistent uncertainty among lenders regarding the treatment of VA...
ArticlesSpecial Alert: CFPB Proposes Amendments to Mortgage Rules
On April 30, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed targeted amendments to the Dodd-Frank Act mortgage rules that took effect in January 2014. Comments are due 30 days after publication of the proposal in the Federal Register. Ability-to-Repay/Qualified Mortgage Points...
ArticlesLenity, Chevron Deference, and Consumer Protection Laws
Several federal statutes, including the Real Estate Settlement Procedures Act (“RESPA”), the Truth in Lending Act (“TILA”) and the Servicemembers Civil Relief Act (“SCRA”) permit the government to seek either civil or criminal penalties for the same conduct. While the executive branch has used its...
ArticlesSpecial Alert: HUD Adopts Its Own QM Rule
On December 11, 2013, the Department of Housing and Urban Development (“HUD”) issued a final rule defining what constitutes a “qualified mortgage” (“QM”) for purposes of loans insured by the Federal Housing Administration (“FHA”). With limited clarifications and adjustments, the rule tracks the...
ArticlesSpecial Alert: Federal Reserve Board Guidance on Managing Outsourcing Risks Mirrors Recent OCC Guidance
On December 5, 2013, the Federal Reserve Board (FRB or the Fed) issued Supervision and Regulation Letter 13-19 , which details and attaches the Fed’s Guidance on Managing Outsourcing Risk (FRB Guidance). The FRB Guidance sets forth risks arising out of the use of service providers and the...
ArticlesCFPB Finalizes Rule Combining TILA and RESPA Mortgage Disclosures
UPDATED OCTOBER 15, 2014: Updated to reflect amendments proposed by the CFPB on October 10, 2014. On November 20, 2013, the CFPB finalized its long-awaited rule combining the mortgage disclosures consumers receive under the Truth in Lending Act (“TILA”) and the Real Estate Settlement Procedures Act...
ArticlesSpecial Alert: OCC Updates Third-Party Risk Management Guidance
On October 30, the OCC issued Bulletin 2013-29 to update guidance relating to third-party risk management. The Bulletin, which rescinds OCC Bulletin 2001-47 and OCC Advisory Letter 2000-9, requires banks and federal savings associations (collectively “banks”) to provide comprehensive oversight of...
ArticlesSpecial Alert: Agencies Issue Joint Statement On Fair Lending Compliance And The CFPB's ATR/QM Rule
On October 22, the CFPB, the OCC, the FDIC, the Federal Reserve Board, and the NCUA (collectively, the Agencies) issued a joint statement (Interagency Statement) in response to inquiries from creditors concerning their liability under the disparate impact doctrine of the Equal Credit Opportunity...
ArticlesSpecial Alert: HUD Proposes Its Own QM Rule
On September 27, HUD released a proposal defining what constitutes a “qualified mortgage” (QM) for purposes of loans insured by the FHA. We have prepared a Special Alert regarding this proposal, which, once it is finalized and takes effect, will replace the temporary QM definition for FHA loans...
ArticlesSpecial Alert: CFPB Finalizes Additional Amendments to the 2013 Mortgage Rules
On September 13, the CFPB finalized another set of amendments to its January 2013 mortgage rules. Whereas previous amendments focused largely on the ability-to-repay/qualified mortgage rule, these amendments – originally proposed in late June 2013 – principally address several important questions...
ArticlesHUD Sets Stage for FCA Claims Against Fund Recipients
The Fair Housing Act requires agencies to administer their programs and activities relating to housing and urban development “affirmatively to further” fair housing. Recipients of U.S. Department of Housing and Urban Development program funding currently are required to conduct a fairly...
ArticlesSpecial Alert: CFPB Finalizes Additional Amendments to ATR/QM Rule; Agencies Propose Appraisal Rule Amendments
On July 10, the Consumer Financial Protection Bureau (“Bureau”) finalized important amendments (the “Amendments”) to its ability-to-repay / qualified mortgage rule (the “QM / ATR Rule”) that are intended to ease certain compliance challenges with making qualified mortgages (“QMs”). In response to...
ArticlesSpotlight on Student Lending, Part 2: Lessons Learned from CFPB Reports
In 2012 and 2013, the Consumer Financial Protection Bureau released several major reports and held field hearings focused on private student lending and servicing. In addition to recent CFPB activity, on June 25, 2013, the Senate Banking Committee held a hearing regarding private student loans at...
ArticlesSpotlight on Student Lending, Part 1: Facing Increased Regulatory Scrutiny, Student Loan Lenders Prepare for CFPB Examinations
Currently, total outstanding student debt (both federal loans and private loans) has risen to roughly $1.1 trillion dollars. That figure represents an over 50% increase since 2008 and makes student loans the largest source of unsecured consumer debt – surpassing credit cards. At the same time, at...
ArticlesLiabilities for Servicers: Localities Jump in the Game
Jeff Naimon wrote, "Liabilities for Servicers: Localities Jump in the Game," which appears in the October issue of Mortgage Servicing News . As if the federal-state settlement with the largest mortgage servicers didn’t give the servicing industry enough to do, localities, including cities, towns...
ArticlesWhite Paper: Disparate Impact Under FHA and ECOA: A Theory Without a Statutory Basis
ABA in a letter yesterday urged federal government agencies to stop using a “disparate impact” approach to fair lending supervision and enforcement. The letter included an ABA-commissioned legal analysis by the Buckley Sandler law firm that concluded such an approach -- which holds...
ArticlesBuckley Sandler Files Amicus Brief on Behalf of Industry Groups in Tenth Circuit TILA Case
On May 3, Buckley Sandler filed an amicus brief on behalf of three industry trade groups in a Tenth Circuit case addressing the right to rescind a mortgage under the Truth in Lending Act. The CFPB previously filed an amicus brief in Rosenfield v. HSBC Bank , No. 10-1442 (10th Cir.), in which it...
ArticlesThe Fair Housing Act, Disparate Impact Claims, and Magner v. Gallagher
The authors discuss the text of the Fair Housing Act, its legislative history, and the past federal appellate court decisions holding that the FHA permits disparate impact claims. They argue that recent Supreme Court decisions cast doubht on the past federal appellate court decisions, and show that...
ArticlesThe UDAP-ification of Consumer Financial Services Law
In this article, the authors examine the “UDAP-ification” of consumer financial services law, discussing the origins and theoretical underpinnings of unfair and deceptive acts and practices law, and then noting recent actions by federal and state agencies to apply UDAP laws and principles in both...
ArticlesA Brief History of UDAP Laws and Predictions for Post-Dodd Frank Developments
Since the Dodd Frank Wall Street Reform Act was enacted,consumer advocates, the private bar and financial providers are reviewing unfair and deceptive acts and practices laws, seeing them as the potentially most farreaching enforcement tools in the government’s consumer protection arsenal. One...
ArticlesRESPA Here We Go Again
At a June 27, 2005 press conference, Department of Housing and Urban Development ("HUD") Secretary Alfonso Jackson announced HUD's roadmap for reform of its regulations implementing the Real Estate Settlement Procedures Act of 1974 ("RESPA"). HUD states that it seeks to "update, simplify and...
ArticlesAssignee Liability in Residential Mortgage Transactions
The holder in due course rule that protects assignees of mortgage loans from borrowers' claims against lenders has been restricted by federal and state legislation aimed at protecting consumers. Further erosion of the rule may arise from the judicial doctrines of imputed knowledge and sham...
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Awards and Recognitions
Awards & Recognitions
- Chambers USA 2022: Band 2, Financial Services Regulation: Consumer Finance (Compliance)
- Legal 500 2022: Recognized in Financial Services Regulation
- Best Lawyers 2022: Banking and Finance Law
- Chambers USA 2021: Band 2, Financial Services Regulation: Consumer Finance (Compliance)
- Legal 500 2021: Recognized in Financial Services Regulation
- Best Lawyers 2021: Banking and Finance Law
- Chambers USA 2020: Band 2, Financial Services Regulation: Consumer Finance (Compliance)
- Legal 500 2020: Recognized in Cyber Law (Data Privacy and Data Protection)
- Best Lawyers 2020: Banking and Finance Law
- Super Lawyers 2020: Banking, Consumer Law
- Chambers USA 2019: Band 2, Financial Services Regulation: Consumer Finance (Compliance)
- Legal 500 2019: Recognized in Financial Services: Regulation, and Cyber Law (Data Privacy and Data Protection)
- Best Lawyers 2019: Banking and Finance Law
- Super Lawyers 2019: Banking, Consumer Law
- Chambers USA 2018: Band 2, Financial Services Regulation: Consumer Finance (Compliance)
- Legal 500 2018: Recognized in Financial Services: Regulation, and Cyber Law (Data Protection and Privacy)
- Best Lawyers 2018: Banking and Finance Law
- Super Lawyers 2018: Banking, Consumer Law
- Legal 500 2017: Recognized in Financial Services: Regulatory, and Cyber Law (Data Protection and Privacy)
- Chambers USA 2017: Band 2, Financial Services Regulation: Consumer Finance (Compliance)
- Best Lawyers 2017: Banking and Finance Law
- Super Lawyers 2017: Banking, Consumer Law
- Legal 500 2016: Recognized in Finance - Financial Services: Regulatory
- Chambers USA 2016: Band 2, Financial Services Regulation: Consumer Finance (Compliance)
- Super Lawyers 2016: Banking, Consumer Law
- Chambers USA 2015: Band 3, Financial Services Regulation: Consumer Finance (Compliance)
- Super Lawyers 2015: Banking, Consumer Law
- Fellow, American College of Consumer Financial Services Lawyers
- Best Lawyers 2015: Banking and Finance Law
- Chambers USA 2014: Band 3, Financial Services Regulation: Consumer Finance (Compliance)
- Super Lawyers 2014: Banking, Consumer Law
- Best Lawyers 2014: Banking and Finance Law
- Chambers USA 2013: Band 3, Financial Services Regulation: Consumer Finance (Compliance)
- Best Lawyers 2013: Banking and Finance Law
- Chambers USA 2012: Band 3, Financial Services Regulation: Consumer Finance (Compliance)
Practice Areas
- Alternative Finance
- Auto Finance
- Bank Counseling & Compliance
- Bank Secrecy Act/Anti-Money Laundering & Sanctions
- Congressional Investigations
- Consumer Finance
- Consumer Financial Protection Bureau
- Debt Collection & Buying
- Enforcement Actions & Investigations
- Examinations
- Fair Lending and Fair Servicing
- Formation, Charter & Structure
- Licensing
- Military Lending
- Mortgages
- Privacy, Cyber Risk & Data Security
- Private Banking
- Private Equity & Venture Capital
- Retail Banking
- State Attorneys General
- Student Lending
- Transactions
- Unfair, Deceptive, or Abusive Acts or Practices
- Vendor Management
Education
- J.D., University of Virginia, 1990
- B.A., Yale University, 1985 (magna cum laude)
Admissions
- District of Columbia
- U.S. District Court, District of Columbia
- U.S. Court of Appeals for the Ninth Circuit