Consumer Financial Protection Bureau

King & Spalding routinely advises consumer finance clients in connection with CFPB enforcement investigations and supervisory examinations.  King & Spalding counsels on compliance with federal law and, where appropriate, litigates against the CFPB. Clients turn to our Special Matters lawyers because of our reputation for conducting thorough and reliable internal investigations, for discreetly resolving government investigations on favorable terms, and for using the investigative record effectively to persuade the government to appropriately decline prosecution or enforcement action.

When advising clients affected by the CFPB, King & Spalding leverages the full extent of the firm’s experience representing banks, financial institutions, and other companies who provide consumer finance products and services.  King & Spalding’s Special Matters team has broad reach in the nation’s capital, and is dedicated to advising clients facing the reality or threat of a government investigation. Some of our recent CFPB experience include:

• Representation of financing company in connection with CFPB enforcement investigation; representation included obtaining a judgment in the Southern District of New York declaring the Consumer Financial Protection Bureau and its enabling statute unconstitutional in their entirety.
• Filed an amicus brief before the United States Court of Appeals for the District of Columbia Circuit, sitting en banc, on behalf of a hedge fund regarding the constitutionality of the CFPB’s structure.
• Representation of national financial services client in connection with CFPB enforcement investigation concerning the marketing and terms of use of debit cards.   
• Representation of a large national bank in connection with a CFPB enforcement investigation.
• Conducted independent investigation of alleged unfair and deceptive practices for the Special Committee of a Fortune 100 financial services company related to a CFPB settlement and shareholder derivative demand.