Compliance & Regulatory

Our nationwide Compliance & Regulatory Section is led by David Israel (metro-New Orleans) and James K. Schultz (San Diego). 

Over the last decade, many new consumer protection laws have been enacted or amended. Our team is adept at analyzing these evolving changes, particularly as they relate to receivables management, consumer credit, and banking industries.

Federal and State Audits & Examinations 

We assist clients in the financial sector with audit preparation and on-site assistance during audits and examinations before federal and state agencies, such as: 

• Consumer Financial Protection Bureau (CFPB)
• Federal Trade Commission (FTC)
• State and local financial regulatory and licensing agencies
• State attorneys general 

In coordination with our Licensing Section, most often for debt collectors and debt buyers, we also draft and coordinate responses to various government inquiries and investigative requests. 

Debt Collection Communication Reviews (Verbal and Written) and Policy Drafting and Analysis  

The compliance team regularly conducts detailed compliance reviews and risk management assessments of letter, email, script, and other consumer debt communication campaigns to provide analysis and specific recommendations. In addition, we frequently draft and evaluate business policies and procedures concerning credit reporting, debt collection, payment processing, privacy, and other consumer protection issues. Importantly, we assist clients in building robust monitoring and auditing mechanisms to implement such policies. 

Ultimately, we act as a “compliance partner” with our clients to formulate internal processes to promote practical compliance solutions and smooth operations. 

Day-to-Day Advice and Consumer Defense Assistance 

A critical part of our practice is providing preventive, proactive, problem-solving advice that is practical. 

Through our Compliance Partner Program, enterprise clients have weekly or bimonthly calls where agendas are created in advance to ensure that trending issues and yet-to-be implemented laws are addressed; special focus is given to specific client concerns and to pre-suits or cases we are handling for the client. 

What We Provide: 

• Practical Compliance Solutions. Customized advice pertaining to the consumer finance industry so businesses can proactively adjust practices as needed.
• Policies and Procedures. The drafting and revising of policies and procedures concerning consumer financial law-related topics to minimize risks and ease business operations.
• Audit Review. Client audits to protect businesses confronted with state and federal investigations and enhance defenses against consumer class actions and other challenges.
• CFPB Supervisory Review Preparation. Preparation for CFPB supervisory reviews and state regulatory and licensing audits.
• CFPB and State Regulatory Onsite Examination Assistance. Client representation during CFPB supervisory reviews and state audits. Our attorneys have spent more time “in the room” than any other group in the country representing debt collectors during CFPB and state agency reviews.
• Legal Analysis and Business Impact. Research, drafting, and advice concerning FDCPA, FCRA, TCPA, EFTA, bankruptcy, student loans, and various other federal and state consumer protection issues.
• 50 State Compliance Summaries. We prepare and update comprehensive analysis memoranda on consumer finance and privacy topics containing state-by-state grids and breakdowns by debt category and other pertinent criteria.
• Contract Review. Analysis of client and vendor contracts to ensure proper vendor oversight and minimization of compliance operational risks.
• Privacy Policies. The drafting of online privacy policies to account for growing state and federal concerns and legal issues regarding consumer privacy and information processing.
• Website Review. The evaluation of company websites and payment portals to identify and provide guidance on potential consumer and payments law risks.

Practice Area Leaders

• ► David Israel
  Metairie: (504) 669-0234

• ► James K. Schultz
  San Diego: (312) 504-3485

• ► Kirsten H. Smith
  Metairie: (504) 908-9888

Related Attorneys

• ► Allison Cannizaro, Metairie
• ► Mayas D. Erickson, Metairie
• ► Wendi Fassbender, Atlanta
• ► Debbie P. Kirkpatrick, San Diego
• ► Bryan C. Shartle, Metairie
• ► Dayle M. Van Hoose, Tampa
• ► Whitney L. White, Dallas

Recent Highlights

• ► Florida State Trial Court Ruling: No Actual FDCPA Damages, No State Court Filing Permitted
  November 22, 2023