Consumer Financial Services

Dewey B. Morris, who directs Thompson McMullan’s Consumer Financial Services practice area, has advised clients for over thirty years regarding compliance with consumer protection laws including the Truth in Lending Act, the Equal Credit Opportunity Act, the Fair Debt Collection Practices Act, the Fair Credit Reporting Act, Title V of the Gramm-Leach-Bliley Act, the Real Estate Settlement Procedures Act and trade regulation rules adopted by the Federal Trade Commission.

The Firm’s attorneys have advised clients about the state consumer laws and practices of almost all states. This includes matters such as 50-state surveys of licensing requirements, interest and other permitted charges, disclosure and reporting requirements, remedies in the event of default, debt collection, privacy and home solicitation sales. We have assisted other lawyers in advising their clients on their credit programs and documents.

Our attorneys have met on a regular basis over the years with representatives of federal and state agencies to assist clients in their efforts to comply with federal and state laws affecting consumer transactions. We have also represented clients in litigating consumer claims on both a trial and appellate level, including defending clients in litigation involving questions under the Uniform Commercial Code and in cases where consumer credit law violations were alleged. We have represented financial institutions named as defendants in class action suits in which the allegations included claims asserting violations of the Truth in Lending Act, RESPA, usury and other consumer protection laws.

The Firm routinely reviews and prepares forms and procedures for such clients, including notes, installment sale agreements, deeds of trust, security agreements, disclosure statements, monthly billing statements and other documents required by federal and state laws. We have worked extensively on such matters as credit card operations; revolving credit plans, secured and unsecured loans; sales finance programs involving vehicles, mobile homes and boats; small loans made by consumer finance companies; home equity loans and lines of credit; purchase money mortgage loans, including both conventional and a variety of variable rate loans; subordinate mortgage loans; and home improvement loans. Mr. Morris has represented a number of sellers of goods and services, including motor vehicle, furniture and home improvement dealers. He has also acted as counsel to state trade associations and has assisted in lobbying on matters concerning consumer credit.

From time to time, the Firm also represents consumers in connection with claims against creditors. Such cases typically involve violations of federal or state consumer protection laws, usury and/or fraud. Creditors sometimes fail to furnish required disclosures or charge excessive or illegal fees, and the Firm is prepared to take such cases if they do not conflict with existing Firm clients. The Firm’s experience in compliance work puts it in the position of identifying issues that frequently are helpful to its consumer clients.

Mr. Morris has been active in the Consumer Financial Services Committee of the ABA Section on Business Law and has served on various Subcommittees, including Truth in Lending, Equal Credit Opportunity, Housing Financing, Interstate Delivery of Financial Services and Interest Rate Regulation. He has participated regularly in Bar Association programs and has lectured on numerous matters relating to consumer financial services.