Increased examination and enforcement activity by state and federal regulators, such as the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC) and the Financial Crimes Enforcement Network, and in areas ranging from consumer lending to retail banking practices to financial technology products, has spurred a need among bank clients for guidance on complex consumer litigation and regulatory matters. As a former enforcement attorney at the CFPB with extensive experience in private practice, Lee will fill that need for Reed Smith’s bank and non-bank lender clients.
“When it comes to confronting regulatory concerns, our financial institution clients tend to have two specific demands: how do they identify and repair compliance weaknesses and implement effective compliance processes and, in the event that they need to engage with regulators, how do they nullify or minimize the adverse effects of investigations, litigation or enforcement actions against their organizations,” said Jodi Schwimmer, global co-chair of Reed Smith’s Financial Industry Group. “Jenny is at the top of the list of lawyers whose guidance is sought to steer clients through these issues and is a significant addition to our team. We are thrilled to have her join us.”
Lee has successfully defended against more than 17 enforcement investigations across myriad product lines, such as demand deposit accounts, online banking, student loans, credit cards, mortgage and refinances, credit scores, debt collection, lead generation, payroll cards, retail-installment loans, online lending, rent-to-own solutions, identity protection, pension advances, auto finance, and others. She represents many of the largest, publicly traded financial institutions or non-bank financial services companies, investors, individual executives, lenders, consumer credit companies, Internet platforms, and technology companies.
Additionally, Lee regularly appears before and advocates in matters commenced by the CFPB, the prudential bank regulators, FTC, the state attorneys general, state banking agencies, and innovation sandboxes within them. Lee also counsels clients in litigation involving privacy, credit card payments, and online lending, and supervisory matters across a wide spectrum of consumer finance markets.