Overview
Maynard Nexsen’s Financial Institutions Litigation & Compliance Group regularly represents banks and bank holding companies, finance companies, card issuers, mortgage companies and mortgage loan serving companies, as well as other financial institutions, in a wide range of litigation and compliance matters. We represent banks and financial institutions of all sizes—from large regional holding companies with operations throughout the United States to smaller publicly held and closely-held bank holding companies and community banks.
We defend nationwide class actions in federal court as well as individual cases alleging violations of consumer protection laws. We arbitrate account disputes. We explain to state court juries why the Uniform Commercial Code protects banks in payment disputes based on “bad” bookkeeper conduct. We help financial institutions prevent litigation on the front end.
The financial services industry is a heavily regulated industry. Compliance with various regulations is vital to financial services clients’ long-term success. We have experience working with various banking authorities on a variety of matters. To help clients avoid potential compliance missteps, we have assisted clients with compliance audits and reviews and refined and created policies and procedures to ensure that financial services clients comply with various regulations. Finally, we educate bank management and boards of directors to help those constituents manage litigation and regulatory risk.
The Financial Institutions Litigation & Compliance Group is also uniquely positioned to work with attorneys in Maynard Nexsen’s other practice areas such as Bankruptcy & Restructuring to provide its clients with efficient representation.
Lender Liability Actions:
- Defend negligence, breach of fiduciary duty, wrongful foreclosure, and fraud claims brought by borrowers and lessees
- Defend conversion claims brought under both the common law and the Uniform Commercial Code
- Advise on defenses available to financial institutions under Articles 2A, 3, 4, 4A and 9 of the Uniform Commercial Code
- Represent financial institutions in shareholder or derivative litigation
- Defend cases involving mortgage backed securities, asset backed securities, interest rate swaps, variable rate demand notes, discriminatory foreclosure
- Defend claims brought against subsidiaries of financial institutions including brokerage companies and insurance companies
- Work with note sale purchasers in defending claims brought by former borrowers
Mortgage/Consumer Litigation:
- Serve as litigation counsel for banks, finance companies, card issuers, mortgage companies, and mortgage loan servicing companies in hundreds of cases in state and federal courts relating to loan origination, loan servicing, collection practices, credit reporting, underwriting, mortgage insurance, flood insurance, forced-paced hazard insurance, foreclosures and redemptions, and virtually every other issue that arises in a financing transaction
- Defend financial service entities in litigation matters involving claimed violations of the Credit Card Accountability Responsibility and Disclosure Act (Credit CARD Act), Real Estate Settlement Procedures Act (RESPA), Fair Credit Reporting Act (FCRA), Truth in Lending Act (TILA), Fair Debt Collection Practices Act (FDCPA), Equal Credit Opportunity Act (ECOA), Fair Housing Act (FHA) and National Flood Insurance Act (NFIA), as well as various state statutory lending and consumer protection laws
- Serve as lead litigation counsel for banks, finance companies, card issuers, mortgage companies, and mortgage loan servicing companies in class action lawsuits asserting violations of RESPA, TILA, FDCPA, FCRA, FHA, RICO, and various state statutory lending and consumer protection laws
- Represent banks, finance companies, card issuers, mortgage companies, and mortgage loan servicing in adversary proceedings filed by consumer in U.S. Bankruptcy Courts located across the United States
Investigations/Compliance:
- Assist financial institutions in responding to investigations brought by various governmental authorities including the Federal Reserve Bank, Office of the Comptroller of the Currency, Alabama State Banking Department, Consumer Financial Protection Bureau, Securities Exchange Commission, and Financial Crimes Enforcement Network
- Assist banks in responding to MRAs and MRIAs
- Conduct business unit reviews to help financial institutions mitigate potential regulatory risk and assist in developing policies and procedures regarding same
- Assist in responding to subpoenas from governmental authorities and those served in connection with litigation
- Provide advice concerning the filing of Suspicious Activity Reports and Bank Secrecy Act and Anti-Money Laundering rules
- Advise financial institutions regarding a variety of consumer statutes like Home Mortgage Disclosure Act (“HMDA”), ECOA, Unfair, Deceptive and Abusive Acts and Practices (“UDAAP”), FCRA, FDCPA, TILA, RESPA, the Telephone Consumer Protection Act (“TCPA”) and the American with Disabilities Act (“ADA”)
- Advise financial institutions with respect to obligations concerning data security
- Assist financial institutions in handling confidential supervisory information
- Advise financial institutions on third party vendor management issues
- Advise financial institutions’ business units responsible for second and third lines of defense regarding a variety of regulatory and legal issues
- Provide education to financial institutions business units and boards of directors regarding regulatory and other issues
- Analyze banking agreements
- Assist in pursuing claims from insurers involving employee dishonesty
- Advise financial institutions regarding document retention policies
Lender’s Rights Actions:
- Pursue claims against borrowers pursuant to notes and loan agreements
- Advise financial institutions on the benefits of the enforcement rights afforded under bank documents
- Advise banks on the benefits of various forums in which to pursue and/or defend claims
- Pursue remedies provided for in promissory notes, lease agreements, and loan agreements including writs of attachment and the appointment of receivers
- Pursue claims against guarantors
- Represent financial institutions in adversary proceedings and other litigation in bankruptcy cases
- File and prosecute judicial foreclosures
To learn more, please visit our Bankruptcy and Restructuring and Securities Litigation practice pages.
Fiduciary Litigation/Fiduciary Risk Management:
- Serve as primary outside counsel for trust departments and trust companies
- Manage breach of fiduciary duty lawsuits, personal trust matters, will contests, disputes involving estate or trust administration as well as ERISA-covered matters
- Represent executors, administrators, trustees, and other fiduciaries as well as beneficiaries
- Defend estate and gift tax audits
To learn more, please visit our Fiduciary, Trust & Estate Litigation practice page.
Title/Real Estate Litigation:
- Commence reformation actions to correct mistakes in instruments
- Defend and prosecute priority disputes between lienholders related to collateral
- Defend against mechanic lien claims on collateral
- Establish access to landlocked properties collateral
- Clear title to collateral
