Consumer Finance and Creditors' Rights

Day Pitney defends institutions in the consumer lending arena, including banks, mortgage companies, automobile lenders and retailers, credit card companies and collection companies in disputes brought under state and federal consumer protection laws, as well as against common law claims. That representation includes the defense of banks and financial institutions in individual and class action suits.

In addition to defending financial institutions, Day Pitney also represents those institutions as plaintiffs in significant commercial loan recovery matters. The creation and standardization of forms has enabled our clients to quickly and cost-effectively collect monies due.

Our clients look to us for advice and comprehensive defense strategies regarding suits brought under the: 

• Equal Credit Opportunity Act
• Fair Credit Reporting Act
• Fair Debt Collection Practices Act
• Real Estate Settlement Procedures Act
• Retail Installment Sales Financing Act
• Truth in Lending Act
• Uniform Commercial Code
• Unfair Trade Practices Act

Comprehensive and Cost-Effective Representation

Our extensive experience equates with good value for our clients. For example, because many have engaged us as national counsel, we have created and refined standardized form pleadings, discovery responses and motions. This translates into fast, economical processes. Additionally, because we have handled so many cases, we can more aptly assess clients' risks and costs and then, if appropriate, pursue mediations, arbitrations and other forms of alternative dispute resolution to achieve private or cost-effective solutions to their matters.

Clients in the consumer finance industry also call on us for tax and labor advice for their human resources departments, defense in housing discrimination claims and prosecution of claims against former employees who violate non-compete agreements.

Extensive Experience

Day Pitney's consumer finance litigation team has represented:

• Credit card companies in actions under the Fair Credit Reporting Act ("FCRA"), including the representation of a major credit card issuer in numerous actions by cardholders brought in state and federal courts.
• A lender in a landmark case that resulted in the first reported decision rejecting the imposition of a fiduciary duty on a lending bank in its relationship with a borrower, and in a precedent-setting truth-in-lending case.
• A lender in connection with a putative class action arising under the Truth-in-Savings Act ("TISA") alleging misleading advertisements and inadequate disclosures.
• A bank in putative class actions in both federal and state court alleging violations of the Truth-in-Lending Act ("TILA") and various state disclosure laws, respectively, arising from assignment of residential mortgages.
• A bank in a certified class action in federal court alleging violations of TILA, the Real Estate Settlement Procedures Act ("RESPA"), the Fair Debt Collection Practices Act ("FDCPA") and various state statutes in connection with the satisfaction of residential mortgage loans.
• A home equity lender in a national class action suit in federal court alleging violations of TILA and various state disclosure laws.
• A mortgage company in a national class action suit involving 32,000 class members in federal court alleging wrongful payment of broker premiums and wrongful charging of satisfaction fees, as well as violations of the Racketeer Influenced and Corrupt Organizations Act ("RICO"), RESPA, TILA and various state statutes.
• A home equity lender in a multistate class action suit relating to the purchase of home improvement loans, alleging violations of TILA, the FDCPA and state law claims.
• Debt collectors in purported class action suits alleging claims under the FDCPA.
• A client in a putative class action in a state superior court, involving credit insurance charges.
• A bank that made motor vehicle loans, in a statewide class action suit pending in a state superior court, alleging claims under certain state laws.
• Lenders and collection agencies in individual actions involving claims under TILA, the Fair Billing Practices Act, the FCRA and the FDCPA.
• Numerous banks and other financial institutions in the recovery of monies due. 
   

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