Bingham ConsultingMultijurisdictional Actions
Businesses now face multiple threats from different layers of government — sometimes concurrently, and at other times, serially. Navigating through multiple federal-state investigations and actions, including state Attorney General multistate investigations, requires special knowledge and skills — precisely where Bingham Consulting comes in. Bingham Consulting has the specific credentials, knowledge base and direct experience with these government-originated challenges and knows what to do to convert them into a business solution. For example, our consultants have worked at the highest levels of federal government and can lead clients through inquiries and investigations at the newly created federal Consumer Financial Protection Bureau (CFPB), the SEC, FTC, DOJ, Department of Interior, and other federal bureaus and agencies. Additionally, we bring extensive experience with state regulators and enforcers, including state Attorneys General, with whom federal agencies are increasingly teaming up.
Bingham Consulting has the resources of a major global law firm readily at hand as it brings its experience to bear on business challenges. Whether in a preventive mode or proactively in response to government action, we can rapidly turn our resources and talent to solving the challenges faced by clients.
Consumer Protection and Business Regulatory Matters
A priority of the Obama Administration has been increased investigatory and enforcement collaboration between and among federal agencies and state enforcement officials in trade regulation, criminal justice and environmental enforcement. Bingham Consulting helps companies manage the legal, business, political and public relations risks associated with navigating simultaneous multi-tiered, multi-agency investigations and litigation at the federal and state levels.
Consumer Financial Protection Bureau. Companies today face a growing number of consumer protection-related investigations at the state and federal levels. The CFPB, which officially opened its doors on July 21, 2011, was created under Title X of the Dodd-Frank Act. It has broad, independent authority to regulate consumer financial products and services and jurisdiction over commercial banks, mortgage lenders and servicers, student lenders, credit bureaus and debt collectors, and is charged with promoting fairness and transparency for consumers with respect to mortgages, credit cards and other consumer financial products. The regulatory and investigatory actions of the CFPB are likely to further this trend of federal-state collaboration and parallel investigations and litigation.
Based on experience in precisely this area, Bingham Consulting is uniquely positioned to represent businesses in the regulatory and enforcement actions the CFPB is expected to bring. We have a successful record representing Fortune 100 companies, including those in the financial services industry, in state Attorney General multistate investigations and settlements as well as parallel investigations and settlements involving the states and DOJ and FTC. We have also represented clients in other consumer protection matters that will now fall under the CFPB.
- Federal-State Collaboration. The Dodd-Frank Act also encourages and ensures increased federal-state coordination in the financial services arena by limiting federal preemption of state consumer protection laws and empowering state Attorneys General to enforce rules that regulate consumer financial products and services. Collaboration will be enhanced by a former state Attorney General and senior staff attorneys from state offices who now hold senior-level positions within the CFPB.
- Multistate Investigations. Bingham Consulting has extensive experience advising companies under scrutiny by state Attorneys General and negotiating resolutions of multistate Attorney General investigations. One of the unique aspects of multistate investigations is the difficult nature of understanding and balancing the public, political and policy concerns of the various Attorneys General. Bingham Consulting has the depth of experience to effectively build and implement multilateral strategies that help companies convey their message across bureaucratic lines to key political and career decision-makers within Attorneys General’s offices.