An outstanding lawyer … His knowledge is amazing … He is quick to respond and provides comprehensive answers that meet our needs.Chambers USA
Walter E. Zalenski
Partner
Biography
Walter Zalenski, a Partner in the Washington, D.C., and New York offices of Buckley LLP, has more than 25 years of experience advising banks and other financial institutions, private equity firms, specialty lenders, retail installment credit providers, fintech companies, and other entities on bank regulatory and consumer finance issues, and corporate and transactional matters.
Mr. Zalenski provides counseling on financial services mergers and acquisitions, focusing on assisting private equity sponsors and strategic buyers in investments in bank and nonbank financial services firms, providing regulatory and transactional advice to identify and mitigate risk, and assisting buyers in obtaining regulatory approvals where necessary.
His work includes a wide range counseling and acting on behalf of clients in enforcement matters, including those involving the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), the Department of Housing and Urban Development (HUD), and prudential bank regulators, as well as state attorneys general and other state authorities.
Noteworthy matters include:
- Acting on behalf of private equity sponsors acquirers in transactions involving payment processing, payment systems, automobile finance, credit reporting, specialty finance, loan servicing, marketplace lending, debt collection, and money transmitting
- Representing clients in contentious regulatory matters involving payment cards, debt collection and debt sales, credit scoring and fair lending, and marketing and sales practices
Since 2008, Mr. Zalenski has been ranked nationally for his work in the area of Financial Services Regulation by Chambers USA. Clients noted that he is "an outstanding lawyer" “the guy who had all the history of why and when the regulations were put in place — his knowledge is amazing," with "expertise (that) spans a range of areas, including credit cards, auto finance, and mortgage lending." He also has been named a "Leading Lawyer" by the IFLR1000 for Financial Services Regulatory in the U.S., recognized by Best Lawyers for Financial Services Regulation Law, and is a Fellow of the American College of Consumer Financial Services Lawyers. He received his J.D. and his B.A. from the George Washington University, where he serves as Professorial Lecturer in Law.
An outstanding lawyer … His knowledge is amazing … He is quick to respond and provides comprehensive answers that meet our needs.Chambers USA
In The News
Buckley 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....
AnnouncementsThe 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...
AnnouncementsThe 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...
AnnouncementsBuckley 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 NewsThe 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 ...
Walter Zalenski Quoted in Law360 Article, "CFPB's Debt Collection Push Will Force Changes at Banks"
Walter Zalenski was quoted in Evan Weinberger's Law360 article, "CFPB's Debt Collection Push Will Force Changes at Banks," on Thursday, July 28, 2016. But even though banks won't be directly affected by the CFPB's outlined proposals, they are likely to feel at least a pinch, said Walter Zalenski, a...
In The NewsJohn Redding & Walter Zalenski Quoted in Reuters Article, "U.S. Consumer Agency Seeks to Overhaul Debt Collection Industry"
John Redding and Walter Zalenski were quoted in Lisa Lambert's Reuters article, "U.S. Consumer Agency Seeks to Overhaul Debt Collection Industry," on Thursday, July 28, 2016. The industry has awaited the overhaul proposal since 2013 and CFPB had penalized a number of large debt collectors in recent...
In The NewsWalter Zalenski Quoted in Accounts Recovery Article, "Industry Weighs In What CFPB Debt Collection Hearing Means for Proposed Rule"
Walter Zalenski was quoted in Mike Gibb's Accounts Recovery article, "Industry Weighs In What CFPB Debt Collection Hearing Means for Proposed Rule," on July 18, 2016. Is it possible to catch someone off-guard but not catch them by surprise at the same time? It appears that way, at least in the...
In The NewsWalter Zalenski Quoted in Law360 Article, "High Court Pass Not The End of Usury Law Question"
Walter Zalenski was quoted in Evan Weinberger's Law360 article, "High Court Pass Not The End of Usury Law," on June 27, 2016. The U.S. Supreme Court elected not to review a Second Circuit decision allowing New York usury law to trump federal statute in a case against a debt buyer, but a U.S...
In The NewsWalter Zalenski Quoted in Bloomberg BNA Article, "Supreme Court Turns Away Petition in Preemption, Rate Case"
Walter Zalenski was quoted in Chris Bruce's Bloomberg BNA article, "Supreme Court Turns Away Petition in Preemption, Rate Case," on June 27, 2016. The Supreme Court June 27 turned away a petition by Midland Funding LLC that sought review of a federal appeals court ruling in a major preemption and...
In The NewsLegal 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 NewsWalter Zalenski Quoted in Bloomberg BNA Article, "SCOTUS Action on Midland Case Still Possible Despite SG's Brief"
Walter Zalenski was quoted in Chris Bruce's Bloomberg BNA article, "SCOTUS Action on Midland Case Still Possible Despite SG's Brief," on May 26, 2016. The Solicitor General's recommendation for the U.S. Supreme Court to sidestep a much-followed preemption and interest-rate controversy is no...
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 NewsWalter Zalenski Quoted in American Banker Article, "CFPB's Arbitration Plan Delivers Sharp Blow to Financial Industry"
Walter Zalenski was quoted in Kate Berry's American Banker article, "CFPB's Arbitration Plan Delivers Sharp Blow to Financial Industry," on May 5, 2016. In a major setback for banks, credit unions, credit card companies and many other financial firms, the Consumer Financial Protection Bureau is set...
In The NewsWalter Zalenski Quoted in Bloomberg BNA Article, "CFPB Proposes Mandatory Arbitration Clause Rule"
Walter Zalenski was quoted in Jeff Bater's Bloomberg BNA article, "CFPB Proposes Mandatory Arbitration Clause Rule," on May 5, 2016. Banks and other financial companies could no longer use mandatory arbitration clauses to prevent class-action lawsuits under a proposed rule released May 5 by the...
In The NewsWalter Zalenski Quoted in American Banker Article, "How the Industry May Challenge CFPB's Arbitration Plan"
Walter Zalenski was quoted in Kate Berry's American Banker article, "How the Industry May Challenge CFPB's Arbitration Plan," on May 5, 2016. The finance industry pushed back against a proposal by the Consumer Financial Protection Bureau Thursday that would ban arbitration clauses in consumer...
In The NewsWalter Zalenski Quoted in Law360 Article, "CFPB Proposal Could Snuff Out Arbitration Even Without Ban"
Walter Zalenski was quoted in Evan Weinberger's Law360 article, "CFPB Proposal Could Snuff Out Arbitration Even Without Ban," on May 2, 2016. The Consumer Financial Protection Bureau is not expected to outright ban arbitration requirements in consumer finance contracts when it releases a hotly...
In The NewsWalter Zalenski Quoted in Bloomberg BNA Article, "Justices Seek U.S. View on Midland Funding; Order Could Open Door for OCC to Play Role"
Walter Zalenski was quoted in Chris Bruce's Bloomberg BNA article, "Justices Seek U.S. View on Midland Funding; Order Could Open Door for OCC to Play Role," on March 21, 2016. The U.S. Supreme Court March 21 asked the Solicitor General for advice on whether to review a federalappeals court ruling...
In The NewsWalter Zalenski Quoted in Bloomberg BNA Article, "Scalia's Death May Tilt High-Stakes Loan Case"
Walter Zalenski was quoted in Chris Bruce's Bloomberg BNA article, "Scalia's Death May Tilt High-Stakes Loan Case," on February 16, 2016. The Feb. 13 death of U.S. Supreme Court Justice Antonin Scalia may delay action on whether to hear a case with important implications for the secondary credit...
In The NewsWalter Zalenski Quoted in Law360 Article, "Money-Laundering Crackdown Hits Hard In Developing World"
Walter Zalenski was quoted in Evan Weinberger's Law360 article, "Money Laundering Crackdown Hits Hard in the Developing World," on November 10, 2015. U.S. financial regulators have increased their scrutiny of banks’ compliance with anti-money-laundering regulations and the Bank Secrecy Act since...
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 ReleasesWalter Zalenski Quoted in Bloomberg BNA Article, "Quick Answers Unlikely as Investors, Lenders Weigh Midland Funding Fallout"
Walter Zalenski was quoted in Chris Bruce's Bloomberg BNA article, "Quick Answers Unlikely as Investors, Lenders Weigh Midland Funding Fallout," on August 21, 2015. Walter E. Zalenski, a partner with Buckley Sandler in Washington, D.C., who advises banks and financial institutions, said he expects...
In The News
Articles & Special Alerts
"NY credit card securitization class action misuses Madden" by Walter E. Zalenski (Law360)
The U.S. Court of Appeals for the Second Circuit's decision in Madden v. Midland Funding LLC is deservedly notorious. The Madden court erroneously held that state usury laws may prohibit a national bank’s assignee from enforcing the interest rate on a credit agreement that was valid under the law...
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...
ArticlesBehavioral Science for Incentive Compensation Reviews
Recent attention in Congress on retail incentive compensation, goal-setting and cross-selling of consumer financial products and services is remarkable for its ferocity and its direction at banks and regulators alike. During a Sept. 20, 2016, Senate Committee on Banking, Housing and Urban Affairs...
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 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's Proposed Rule Regarding Payday, Title, and Certain Other Installment Loans
On June 2, 2016, the CFPB published its proposed rule (the “ Proposed Rule ”) addressing payday loans, vehicle title loans, and certain other installment loans (collectively “covered loans”). This alert summarizes the Proposed Rule and compares the Proposed Rule to the CFPB’s March 26, 2015 outline...
Articles"Key Points in the CFPB’s Outline of Proposed Rule for Third Party Debt Collectors" By Marshall T. Bell, John C. Redding, and Walter E. Zalenski (Consumer Finance Law Quarterly Report)
On July 28, 2016 the Bureau of Consumer Financial Protection (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...
ArticlesDebt Collection and Beyond in 2015
In 2015, the CFPB further expanded its reach into debt collection through a number of enforcement actions. The CFPB also continues to conduct research on a potential rulemaking regarding debt collection activities, which may address information accuracy concerns involving debt sales and other...
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...
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...
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...
Articles
Awards and Recognitions
Awards & Recognitions
- Chambers USA 2020: Band 2, Financial Services Regulation: Consumer Finance (Compliance)
- Best Lawyers 2020: Financial Services Regulation 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
- IFLR 1000 2019: "Highly Regarded” Lawyer for Banking and Financial Services Regulatory
- 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
- Super Lawyers 2018: Banking, Consumer Law
- Chambers USA 2008-2017: Band 1, Financial Services Regulation: Consumer Finance (Compliance)
- Professorial Lecturer in Law, George Washington University Law School
- Legal 500 2017: Recognized in Financial Services - Regulatory
- Legal 500 2016: Recognized in Financial Services - Regulatory
- Super Lawyers 2017: Banking, Consumer Law
- Super Lawyers 2016: Banking, Consumer Law
- Super Lawyers 2015: Banking, Consumer Law
- Super Lawyers 2014, Banking, Consumer Law
- IFLR 1000 2012-2013: "Leading" Lawyer for Bank Lending and Financial Services Regulatory
Practice Areas
- Alternative Finance
- Auto Finance
- Bank Counseling & Compliance
- Consumer Finance
- Consumer Financial Protection Bureau
- Credit, Debit & Prepaid Cards
- Debt Collection & Buying
- Enforcement Actions & Investigations
- Fair Lending
- Federal Trade Commission
- Fintech
- Formation, Charter & Structure
- Privacy, Cyber Risk & Data Security
- Private Banking
- Private Equity & Venture Capital
- Transactions
- Vendor Management
Education
- J.D., George Washington University, 1984
- B.A., George Washington University, 1981
Admissions
- District of Columbia
- Maryland
- New York
- U.S. District Court, District of Columbia