Highlights of 2012 Activities

Consumer Financial Services Group Highlights of 2012 Activities

K&L Gates LLP K&L Gates comprises more than 2,000 lawyers who practice in 48 offices K&L Gates Down Under located on five continents. We maintain one of the most prominent global Also occurring in 2012, K&L Gates financial services practices—with more than 200 lawyers representing announced its combination with Australian diversified financial services institutions and their affiliated service providers. national law firm Middletons, expanding the K&L Gates worldwide platform to five Our clients represent a cross-section of the financial services industry, continents and further strengthening the including traditional financial services companies (such as depository largest integrated network of law offices institutions, mortgage banks, consumer finance companies, loan servicers, and law partners of any global law firm. Our Australian Consumer Financial Ser- broker-dealers, investment banks, money services businesses, prepaid vices team has a wealth of experience in card issuers and sellers, and payment systems providers), as well as non- this diverse area of law assisting local and financial companies that might incidentally provide financial services to their overseas banks, lenders, corporate borrow- customers (such as homebuilders, retailers, title insurers and agencies, real ers, wealth managers and financial service intermediaries. Our team in Australia estate brokers, relocation service companies, and technology companies). focuses on regulatory and financial ser- Amidst the constant stream of negotiating transactions, providing regulatory vices matters, consumer financial services counseling, defending clients in litigation or government enforcement actions or and payment systems. advocating on the policy side, our lawyers try to find time to educate and train clients on the major industry issues of the day. We strive to be thought of as Representative 2012 leaders in the consumer financial services industry, and we do it in part through Engagements of the Consumer webinars, seminars, client alerts, blog posts; in addition, increasingly, our clients Financial Services Group: ask us to conduct on-site training. Below is a sample of our 2012 activities. Compliance Selected 2012 Firm • The 2013 BTI Consulting Group survey • Counseled bank on compliance with of corporate counsel (covering 650 regulations and guidelines govern- Achievements law firms) included the firm in its “BTI ing the origination and servicing of In addition to numerous specific recogni- Client Service 30,” an elite ranking government insured and guaranteed tions of the firm’s partners, practices, that recognizes the leading law firms residential mortgage loans, including offices and markets, selected 2012 firm- in driving superior client relationships those insured or guaranteed by the U.S. wide recognitions include: according to general counsel. Departments of Housing and Urban Development, Veterans Affairs and • The 2013 U.S. News-Best Lawyers • For the fourth consecutive year, K&L Agriculture. This work has included a “Best Law Firms” survey awarded K&L Gates was named a “Top 100 Firm for comprehensive survey of requirements Gates more than 200 first-tier rankings, Diversity” and “Top 100 Firm for Women” applicable to default servicing, loss including 33 national practice rank- by MultiCultural Law magazine in 2012. mitigation, and foreclosure, as well as ings and 169 metropolitan rankings in requirements related to the origination 19 locations, marking the third con- of single-family residential mortgage secutive year that K&L Gates has been 2012 Firm Office Openings loans; specialized compliance reviews; ranked among the top two law firms In 2012, the firm opened offices in: drafting, reviewing and amending poli- with the most first-tier rankings, as well cies and procedures and Quality Control as receiving the publication’s national • Milan, Italy (February 2012) processes, customer relief provisions “Law Firm of the Year” distinction for • Seoul, Republic of South Korea and national servicing standards. Environmental Law. (November 2012)

“K&L Gates comes out with commentary for all clients on developments in the mortgage space. This is considered the industry bible. You haven’t heard the last word until they have weighed in.” – Chambers USA 2012

Consumer Financial Services Group Highlights of 2012 Activities 2 • Acted as counsel to U.S. subsidiary of practices and benefits of appraisal • Submitted comment letter to U.S. foreign bank, in connection with inter- management companies in the Department of Housing and Urban nal review of consumer financial regu- appraisal market. We also represented Development requesting reconsideration latory compliance policies, procedures, appraisal management companies in of its proposed rule on the standard and and controls. Reviewed automobile enforcement proceedings before state burden of proof for claims of lending dis- finance policies and procedures for appraisal boards. Finally, we assisted crimination brought under Fair Housing compliance with wide range of con- our lender clients in developing and Act, because proposed rule’s disparate- sumer financial regulatory compliance implementing valuation policies and impact analysis for such claims is con- obligations; advised client on Bureau procedures as they relate to appraisal trary to statutory language and prior U.S. of Consumer Financial Protection independence requirements, the Supreme Court precedent. The issue expectations and emerging industry federal banking agencies’ interagency of disparate impact under fair lending best practices regarding key regulatory appraisal guidelines, vendor manage- laws is currently of significant impor- compliance controls, including vendor ment requirements and implementa- tance to the mortgage lending industry management and complaint resolution. tion of the national servicing standards. because the U.S. Department of Justice has greatly increased its enforcement • Represented bank in the formation of • Served as private mortgage insurer’s efforts in the last two years based on its a national bank trust company to be government affairs counsel as a belief that fair lending laws provide for used as part of bank’s wealth manage- registered lobbyist with respect to disparate-impact liability. ment platform. Formation of a national the financial service reform under bank trust company in this instance the Dodd-Frank Act and other con- • Performed risk assessment of client involved not only an understanding of gressional initiatives. Combined firm in advance of examination by the the bank regulatory issues, but also an regulatory compliance practice with its Bureau of Consumer Financial understanding of the interplay between federal government affairs practice to Protection. Required developing test bank regulation and investment man- lobby in front of U.S. Congress. plans for examinations by brand new agement laws. regulator, conducting interviews, draft- • Served as primary regulatory and ing reports, and making recommenda- • Represented a consortium of credit transactional counsel for global tions for enhancements. unions in seeking federal legislation financial services company in connec- that would allow credit unions to raise tion with the development of several • Advised client in connection with its capital through the issuance of supple- general purpose reloadable card prod- forms of Home Equity Line of Credit mental capital instruments. On this ucts, including several offered through (“HELOC”) agreements. Coordinated matter, we were able to successfully a major national retailer. Also advised review of HELOC agreements performed combine our public policy acumen with the company on compliance with state by K&L Gates attorneys and outside our substantive knowledge of bank and money transmitter licensing laws. attorneys; suggested revisions to form credit union capital rules. Our knowl- documents and additional disclosure • Set up agent/authorized delegate moni- edge of supplementary bank capital documents; identified regulatory toring programs for licensed money instruments was invaluable to assist in compliance risks that could expose transmitters. Required reviewing the formulation of parameters for credit company to a material risk of liability and revising agent contracts, draft- union supplemental capital instruments. or require a significant change to the ing compliance-related policies and company’s business practices; provided • Counseled lender and appraisal man- procedures for agents, and developing regulatory compliance counseling. agement company clients on compli- systems for supervision of agents. ance with federal and state statutes • Advised coalition of private equity • Advised various startups in the mobile and regulations regarding appraisals, investors of regulatory compliance risks payments space, as well as estab- including customary and reasonable raised by proposed investment in auto- lished financial institutions entering appraisal fees, appraisal management mobile finance company. Reviewed this space, on federal and state laws company registration and practice policies and procedures; conducted regulating payment systems, including requirements, and alternative valua- management interviews; assessed money transmitter licensing laws. tion products, such as Broker Price strength of regulatory compliance poli- Opinions and Automated Valuation • Served as transactional and regula- cies, procedures and controls; identi- Models. We assisted appraisal man- tory counsel for American Express in fied regulatory compliance risks that agement company clients in comment- connection with Bluebird, an alterna- could expose company or investors to ing on proposed regulations, both at tive to checking accounts to be offered a material risk of liability or require a the federal and state level, track the through Wal-Mart stores. significant change to the company’s development of legislative and regula- business practices in connection with tory proposals for the regulation of $1 billion investment. appraisal management companies, and seek to educate federal lawmak- ers and regulators on the business

Consumer Financial Services Group Highlights of 2012 Activities 3 • Represented bank, an excess deposit • Acted as counsel to bank in con- • Served as counsel in various govern- insurer of co-operative banks in nection with implementing consent ment investigations of bank related Massachusetts, on all manner of order regarding mortgage foreclosure to the sale of more than $50 billion regulatory issues affecting member practices entered into with Board of of Residential Mortgage Backed banks and on issues arising in con- Governors of the Federal Reserve and Securities. Investigations into the sales nection with troubled member banks. the Federal Reserve Bank of New York. of RMBS are one of the highest pri- Massachusetts is the only state in the Responded to inquiries from regulators. orities of President Obama’s financial United States that has established Assisted with implementation of consent fraud task force. deposit insurers for state-chartered order requirements, which included: • Represented national bank in state banks. As an excess insurer, bank is drafting and implementing vendor attorney general enforcement action proactive with troubled member banks management requirements; drafting, alleging unfair and deceptive acts in in order to mitigate potential losses. reviewing and negotiating vendor agree- connection with mortgage foreclosure Such a unique client requires unique ments; reviewing loan files; and provid- practices and failure to record the legal services, which calls upon our ing remediation to affected consumers. transfer of certain promissory notes ability to assist in the resolution of trou- • In a case of first impression regarding a associated with mortgages on registered bled banks and provide timely advice “FHA”-approved series limited liability land. This lawsuit represents one of as to how changes in capital require- company, represented mortgage origina- a handful of state attorneys general ments and other regulatory reforms will tor in connection with allegations made enforcement actions filed against major impact community banks. by the U.S. Department of Housing and mortgage servicers based on allegations • Advised clients on a regular basis on Urban Development (“HUD”) under of improper foreclosure practices. the contractual and program require- FHA regulations and the Real Estate ments of the government guaranteed Settlement Procedures Act regarding Litigation MBS programs of (i) the two federal prospect’s affiliated business arrange- • Helped client respond to allegations of government sponsored enterprises, ments. We assisted lender in negotiating inappropriate foreclosures, including Fannie Mae and Freddie Mac, and (ii) a settlement with HUD to resolve these allegations related to “robosigning” the Government National Mortgage allegations and avoid any adverse action. (i.e., improper executions of affidavits Association, including with respect to Involved extensive knowledge of the Real of indebtedness in judicial foreclosure the origination, insurance, sale, pooling, Estate Settlement Procedures Act and actions) and notarizing documents and servicing of residential mortgage active role in settlement negotiations with outside of the presence of a notary. loans backing such securities. the federal government. Coordinated client’s responses to • Assisted title insurer in negotiating a wrongful foreclosure litigation, based Government Enforcement settlement to resolve an enforcement on allegations of robosigning through- • Served as outside counsel to one of five proceeding involving debarment and out the country. The allegedly improper banks in the $25 billion global foreclosure allegations under the Real Estate or inappropriate foreclosure of the settlement involving the federal govern- Settlement Procedures Act in connec- homes of distressed consumers is one ment (including the U.S. Department tion with an electronic platform used by of the most controversial and high of Justice, the Department of Housing title insurer and its subsidiaries for the profile consumer credit issues in the and Urban Development, the U.S. ordering and processing of title insur- United States. Trustees Office, and Consumer Financial ance orders. Involved one of the largest • Represented national bank in 15-20 Protection Bureau) and 49 state attorneys debarment proceedings involving a putative class actions around the general. The settlement has been hailed financial institution. country alleging violations of con- as the largest federal and state enforce- • Represented client in fair lending sumer-banking and credit laws and, ment action in the history of our country. administrative investigation of in particular, the Home Affordable • Represented bank in the Federal Housing mortgage lending operations of Modification Program (“HAMP”). Administration (“FHA”) mortgage subsidiary. Investigation relating to These represent some of the first puta- insurance False Claims Act case, which an enforcement priority of the Obama tive class actions based on allegations resulted in a $1.0 billion settlement with Administration. Depths of substantive that a mortgage loan servicer did not the federal government. We gathered fair lending experience and regulatory follow the requirements of its contract facts, established defenses in response enforcement and litigation experience. with the federal government concern- to government claims, participated in • Served as counsel in performing ing anti-foreclosure requirements. numerous in-person settlement discus- confidential investigation of allegations • Represented bank in putative nation- sions with government lawyers, and by internal whistleblower connected to wide fair lending class action. The assisted in the negotiation of settlement operations of proprietary mutual fund private plaintiffs’ bar has recently re- terms and releases. This was one of the family and affiliated investment adviser. asserted that fair lending laws provide largest False Claims Act settlements in Conducted internal investigation for disparate-impact liability. history and largest involving the FHA. related to new Dodd-Frank whistleblower provisions on important issues.

Consumer Financial Services Group Highlights of 2012 Activities 4 • Filed amicus brief with U.S. Supreme to challenge closing practices related have closed in five years. The transac- Court on behalf of mortgage lending to VA loans across the country over an tion was unique because the majority industry trade groups in matter styled extended period of time. of the underlying assets are loans and Magner v. Gallagher, regarding applica- bonds of borrowers and issuers located • Represented lender in connection bility and consequences of disparate- in emerging markets. At $600 million, with several lawsuits alleging unfair impact standard for claims of lending the transaction is believed to be the and deceptive trade practices and discrimination brought under Fair largest CLO issued in 2012. common law tort claims arising out of Housing Act. The issue of disparate the origination of loans used to pur- • Represented bank in $1.3 billion impact under fair lending laws is cur- chase resort development lots where registered offering of automobile asset- rently of significant importance to the the development later failed or fraud backed securities. This was the first mortgage lending industry because the by the developer against purchasers takedown from a post-crisis ABS shelf U.S. Department of Justice has greatly was discovered. The claims asserted registration statement that we prepared increased its enforcement efforts in the in these cases were brought in some for the same client. It was one of the last two years based on its belief that instances by a single borrower and first registered ABS transactions to fair lending laws provide for disparate- in other instances by a large group of comply with the special disclosure impact liability. borrowers (as a mass action) and were requirements of SEC Rule 193. • Selected as managing outside counsel based on theories that the lender had • Served as underwriters counsel for for mortgage loan servicer in multiple an obligation to its borrower to evaluate $135 million securitization of Ginnie putative class actions and individual or warn the borrower of risks associ- Mae guaranteed residential loans actions throughout the county. Recent ated with his or her purchase or an through REMIC Trust. This transac- litigation highlights for this client obligation to more prudently underwrite tion, which took more than a year to include securing dismissal of putative the loans at issue. successfully push through the agency class action complaint against loan approval process, is the first Ginnie servicer for the alleged robosigning Transactional/Securitization Mae deal of the century with forward- activities of foreclosure counsel. • Assisted client in review of private paying ARM collateral. The deal is also • The alleged robosigning actions of investor claims for alleged breaches of significant because it is the first time foreclosure counsel represent one of pooling and servicing agreements in that Ginnie Mae has permitted the the first putative class actions seeking residential mortgage securitizations. index on the collateral to be different to hold a mortgage loan servicer Issues involve demands for repurchase than the index on the certificates. responsible for the alleged falsification of loans based on alleged breaches • Served as counsel to receivables seller of affidavits and other court docu- of representations and warranties in in migration from New York law to ments by its foreclosure law firm. In connection with the sale of the loans English law of an $850 million trade connection with the motion to dismiss and other remedies in connection with receivables securitization funded prepared by K&L Gates, the court held alleged defective servicing of the loans. by asset-backed commercial paper that the plaintiffs lacked standing to • Served as arranger’s counsel for $125 conduits. The trade receivables were sue the servicer based on the alleged million U.S. issuance of pass-through originated in North America, Europe, wrongdoing of the foreclosure firm certificates backed by a mortgage on and Asia and arise under oil trading because there were no allegations an English triple-net leased property contracts between Vitol and major oil that the plaintiffs suffered harm as a and by swap payments. The transac- companies. $850 million. This was a proximate cause of the alleged “robo- tion required complete integration of our cross-border transaction that required signing.” The court also ruled that the London and U.S.-based securitization close cooperation between our lawyers claims otherwise failed to state a claim teams because the pass-through certifi- in New York and London. because the plaintiffs relied on unsup- cates are to be governed by U.S. law and ported allegations that the servicer is • Served as Issuer’s and Sponsor’s offered in the United States, while the per se liable for the alleged actions of counsel in $1.2 billion Rule 144A offer- mortgage note is expected to be issued foreclosure counsel. ing of automobile asset-backed securi- under English law and listed on the ties. K&L Gates acted for the sponsor • Represented national bank in qui tam Irish Stock Exchange. The transaction and drafted all documentation and action alleging violations of the False requires close coordination of U.S. com- issued all opinions in the transaction. Claims Act arising out of the origina- mercial law, securities law, tax law and This was one of the first off-balance tion of VA insured loans. The claims ERISA advice with English real estate sheet ABS transactions to be struc- asserted in this case are based on novel and tax advice. (Arranger’s counsel) tured to be “bankruptcy remote” in theories regarding the interpretation of • Represented the arranger / initial compliance with the recently amended the statutes, regulations and guidelines purchaser of a $600 million managed FDIC securitization safe harbor. governing VA insured loans and the CLO transaction. This was the first relatively rare application of the False managed, emerging-markets CLO to Claims Act to the origination of government insured loans. The claims purport

Consumer Financial Services Group Highlights of 2012 Activities 5 • Served as Issuer’s and Sponsor’s Webinars: Conference: counsel in $1.3 billion Rule 144A resecuritization of mortgage-backed RESPA Webinar Series: Be Ready Should Fair Lending Symposium securities. We acted for the sponsor the New CFPB Knock on Your Door - PART Hosted by the Consumer Financial Services and drafted all documentation and 1, presented by: Phillip L. Schulman, group and Ernst & Young issued all opinions in the transaction. Holly Spencer Bunting. June 8, 2012 This was one of the first off-balance March 14, 2012. sheet ABS transactions to be struc- RESPA Webinar Series: Be Ready Should tured to be “bankruptcy remote” in the New CFPB Knock on Your Door - PART Alerts and Publications: compliance with the recently amended 2, presented by: Phillip L. Schulman, CFPB Fair Lending Updates – Expectations FDIC securitization safe harbor. Holly Spencer Bunting. for Enforcement and Regulation in 2013 • Represented bank in its acquisition March 28, 2012. by Melanie Brody, Tori K. Shinohara of savings bank (a bank in troubled CFPB Investigations: What to Expect, Consumer Financial Services Alert condition) in a transaction that involved presented by: Melanie Brody, Krista December 18, 2012 segregating classified assets acquired Cooley, Michael J. Missal, Phillip HUD’s Distressed Asset Stabilization into a separate entity. This transac- L. Schulman, Shanda N. Hastings, Program: Salvation or Sound Bite? tion was one of the few completed Stephanie C. Robinson. by Krista Cooley, Emily J. Booth since 2008 that involved segregat- July 12, 2012. Consumer Financial Services Alert ing classified assets into a separate Fair Lending Compliance in the Age of July 30, 2012 entity or “bad bank.” The transaction Disparate Impact, presented by: The Consumer Financial Protection Bureau: involved complex regulatory issues Melanie Brody, Paul F. Hancock. A First Year Retrospective by K&L Gates under the Bank Holding Company Act, September 19, 2012. by Laurence E. Platt, Steven M. Kaplan, Regulation W and state law. CFPB’s Proposed Servicing Standards, Stephanie C. Robinson, Kristie D. Kully, • Assist client in sales of residential presented by: Laurence E. Platt, David L. Beam, Melanie Brody, mortgage operations, following decision Nanci L. Weissgold, Kerri M. Smith. Jonathan D. Jaffe, Nanci L. Weissgold, of parent insurance company to exit September 25, 2012. Holly Spencer Bunting, Kerri M. Smith, the business. Work separate transac- David A. Tallman, Eric Mitzenmacher, CFPB Proposes Combined Mortgage tions to sell loan origination business, Rebecca Lobenherz, John L. Longstreth, Disclosure Forms, presented by: reverse mortgage business, loan Krista Cooley, Paul F. Hancock, Phillip L. Schulman, Holly Spencer Bunting. servicing business, flood insurance David I. Monteiro, Michael J. Missal, October 9, 2012. certification business, and revolving Shanda N. Hastings, Noam A. Kutler, commercial credit business. Striking a Balance: The Intersection Matt T. Morley, Stephen J. Crimmins, • Negotiated and documented con- of Consumer Privacy and Loan-Level Karen Kazmerzak, Bruce J. Heiman, sumer loan origination and servicing Securitization Analysis, presented by: Daniel F. C. Crowley, Akilah Green software and outsourcing relationship David A. Tallman. K&L Gates Publication with third party vendor. Participated in November 1, 2012. July 23, 2012 negotiation of, and documented, third Unfair, Deceptive and Abusive Acts and Forget Plain Vanilla – How About Pickle? party outsource and technology agree- Practices: Understanding the Standards and Proposed HOEPA Rule Threatens to Curtail ments; identified regulatory compli- Avoiding Risk, presented by: Melanie Consumer Credit ance risks that could expose company Brody, Paul F. Hancock, Andrew C. Glass. by David A. Tallman, Jonathan D. Jaffe to a material risk of liability or require November 15, 2012. Consumer Financial Services Alert a significant change to the company’s California’s Homeowner Bill of Rights - July 19, 2012 business practices; provided regula- A January 1, 2013 Hangover, presented by: Court Upholds Labor Department tory compliance counseling in connec- Laurence E. Platt, Jonathan D. Jaffe. Interpretation That Mortgage Loan Officers tion with same. December 6, 2012. Are Not Exempt From Overtime by Thomas H. Petrides, John L. Longstreth “This is one of the most highly regarded Consumer Financial Services and Labor and Employment Alert firms in the consumer finance space, June 19, 2012 and is highlighted for its prowess in the mortgage arena.” – Chambers USA 2012 Consumer Financial Services Group Highlights of 2012 Activities 6 Proposed Basel III Capital Rules for Global Foreclosure Settlement: The Our Blog Mortgage Loans Would Further Push Success of Herding Cats Mortgage Market to Homogeneous by Laurence E. Platt, Michael J. Missal Since the December 2011 launch of our Products March 12, 2012 blog, Consumer Financial Services Watch, by Laurence E. Platt, Stanley V. members of our group have provided timely K&L Gates Files Federal Pro Bono Action to Ragalevsky, Sean P. Mahoney information on legal and regulatory develop- Challenge Foreclosure Rescue Scheme Consumer Financial Services Alert ments affecting consumer financial services by Paul F. Hancock, Carol Elder Bruce, June 18, 2012 procedures, including new developments John L. Longstreth related to the Consumer Financial Protection It Takes Two to Tango: The Supreme Court Consumer Financial Services alert Bureau (CFPB) and other topics. In 2012, Rejects Unilateral Liability under Section March 8, 2012 members of our team published nearly 8(b) of RESPA Responding to Comprehensive Financial 100 posts on our blog on a variety of topics by Phillip L. Schulman, Andrew C. Glass, Fraud Enforcement Efforts including the CFPB, mortgage lending and Holly Spencer Bunting, Roger L. Smerage K&L Gates White Paper servicing, FHA/VA, UDAAP, litigation and Consumer Financial Services Alert February 2012 enforcement actions and fair lending, just to June 7, 2012 name a few. Mortgage Industry Submits Comments on Defining Prudent Underwriting: An HUD’s Proposed Disparate-Impact Rule Please visit consumerfinancialserviceswatch. International Struggle under the Fair Housing Act com to subscribe to our blog or to read our by Laurence E. Platt, Kristie D. Kully, by Paul F. Hancock, Andrew C. Glass, posts. Andrew L. Caplan Melanie Brody, Roger L. Smerage, Consumer Financial Services Alert Gregory N. Blase June 4, 2012 Consumer Financial Services Alert Articles: Unlucky Day for Consumer Financial Servicer February 1, 2012 CFPB Considers Strict Limits on Points Providers? The CFPB Issues Its Vendor No More Mister Nice Guy: Indemnification and Fees Management Bulletin on Friday the 13th Now Required by FHA Lender Insurance California Mortgage Bankers Association by Jonathan D. Jaffe, David A. Tallman Regulations by Kristie D. Kully Consumer Financial Services Alert by Phillip L. Schulman, Krista Cooley, Summer 2012 May 11, 2012 Holly Spencer Bunting Minimizing Risks of Accepting Instructions Global Foreclosure Settlement: What You Consumer Financial Services Alert Under Powers of Attorney: Living with the Need to Know January 31, 2012 Consequences of Vine v. Commonwealth K&L Gates Consumer Financial Services New Obstacles on the Course: State paBanker, Official Magazine of the Publication Foreclosure Laws Continue to Complicate Pennsylvania Banker’s Association, May 4, 2012 Mortgage Loan Servicing Vol. 14.6. BIGGER! BOLDER! BETTER? The NMLS by Nanci L. Weissgold, Morey Barnes Yost by Raymond P. Pepe Expands to License More Consumer Consumer Financial Services Alert November - December 2012 Financial Services - Mortgage Finance January 17, 2012 The Implications of Legislative Inaction to Licensees Will Need to Amend Their Supreme Court Brief Filed on Behalf of Address Issues Relating to Priority Disputes Account Records Mortgage Lenders Between Open-End Mortgages and by Costas A. Avrakotos by Paul F. Hancock, Andrew C. Glass, Mechanics Liens Consumer Financial Services Alert Melanie Brody, Gregory N. Blase paBanker, Official Magazine of the March 30, 2012 Consumer Financial Services Alert Pennsylvania Banker’s Association, It’s a Whole New World: CFPB Proposed January 5, 2012 Vol. 14.6. Plans to Supervise the Activities of Debt New Payment Technologies Present by Raymond P. Pepe, C. Grainger Bowman Collectors Responsible for Almost Two- Challenges for FinCEN November - December 2012 Thirds of All Collection Receipts by Steven M. Kaplan and David L. Beam by David L. Beam, Tori K. Shinohara Global Government Solutions® 2012: Consumer Financial Services Alert Annual Outlook March 15, 2012 January 2012

Consumer Financial Services Group Highlights of 2012 Activities 7 Consumer Financial Services Practice Contact List K&L Gates’ Consumer Financial Services practice provides a comprehensive range of transactional, regulatory compliance, enforcement and litigation services to the lending and settlement service industry. Our focus includes first- and subordinate-lien, open- and closed-end residential mortgage loans, as well as multi-family and commercial mortgage loans. We also advise clients on direct and indirect automobile, and manufactured housing finance relationships. In addition, we handle unsecured consumer and commercial lending. In all areas, our practice includes traditional and e-commerce applications of current law governing the fields of mortgage banking and consumer finance.

For more information, please contact one of the professionals listed below.

Lawyers: Boston Washington, D.C. R. Bruce Allensworth [email protected] +1.617.261.3119 Costas A. Avrakotos [email protected] +1.202.778.9075 Irene C. Freidel [email protected] +1.617.951.9154 David L. Beam [email protected] +1.202.778.9026 Stanley V. Ragalevsky [email protected] +1.617.951.9203 Holly Spencer Bunting [email protected] +1.202.778.9853 Brian M. Forbes [email protected] +1.617.261.3152 Melanie Brody [email protected] +1.202.778.9203 Andrew Glass [email protected] +1.617.261.3107 Krista Cooley [email protected] +1.202.778.9257 Sean P. Mahoney [email protected] +1.617.261.3202 Daniel F. C. Crowley [email protected] +1.202.778.9447 Phoebe Winder [email protected] +1.617.261.3196 Eric J. Edwardson [email protected] +1.202.778.9387 Steven M. Kaplan [email protected] +1.202.778.9204 Charlotte Phillip John Kardis II [email protected] +1.202.778.9401 John H. Culver III [email protected] +1.704.331.7453 Rebecca H. Laird [email protected] +1.202.778.9038 Amy Pritchard Williams [email protected] +1.704.331.7429 Michael J. Missal [email protected] +1.202.778.9302 Laurence E. Platt [email protected] +1.202.778.9034 Chicago Stephanie C. Robinson [email protected] +1.202.778.9856 Michael J. Hayes Sr. [email protected] +1.312.807.4201 Phillip L. Schulman [email protected] +1.202.778.9027 David Tallman [email protected] +1.202.778.9046 Dallas Stephen G. Topetzes [email protected] +1.202.778.9328 David Monteiro [email protected] +1.214.939.5462 Nanci L. Weissgold [email protected] +1.202.778.9314 Emily J. Booth [email protected] +1.202.778.9112 Miami Kris D. Kully [email protected] +1.202.778.9301 Paul F. Hancock [email protected] +1.305.539.3378 Morey E. Barnes Yost [email protected] +1.202.778.9215 Kathryn M. Baugher [email protected] +1.202.778.9435 New York Andrew L. Caplan [email protected] +1.202.778.9094 Elwood F. Collins [email protected] +1.212.536.4005 Soyong Cho [email protected] +1.202.778.9181 Steve H. Epstein [email protected] +1.212.536.4830 Shanda N. Hastings [email protected] +1.202.778.9119 Drew A. Malakoff [email protected] +1.216.536.4034 Anaxet Y. Jones [email protected] +1.202.778.9414 Rebecca Lobenherz [email protected] +1.202.778.9177 Pittsburgh Eric Mitzenmacher [email protected] +1.202.778.9127 Melissa J. Tea [email protected] +1.412.355.8385 Tori K. Shinohara [email protected] +1.202.778.9423 Kerri M. Smith [email protected] +1.202.778.9445 San Francisco Kathryn S. Williams [email protected] +1.202.778.9122 Jonathan Jaffe [email protected] +1.415.249.1023 Elena Grigera Babinecz [email protected] +1.415.882.8079 Professionals: Amanda D. Gossai [email protected] +1.415.882.8020 Government Affairs Advisor / Director of Licensing Washington, D.C. Seattle Stacey L. Riggin [email protected] +1.202.778.9202 Holly K. Towle [email protected] +1.206.370.8334

Sydney Regulatory Compliance Analysts: Andrea P. Beatty [email protected] +61.2.9513.2333 Washington, D.C. Daad Soufi [email protected] +61.2.9513.2300 Dameian L. Buncum [email protected] +1.202.778.9093 Abhishek Bansal [email protected] +61.2.9513.2300 Teresa Diaz [email protected] +1.202.778.9852 Jason Vongratsavi [email protected] +61.2.9513.2300 Robin L. Gieseke [email protected] +1.202.778.9481 Brenda R. Kittrell [email protected] +1.202.778.9049 Dana L. Lopez [email protected] +1.202.778.9383 Patricia E. Mesa [email protected] +1.202.778.9199 Daniel B. Pearson [email protected] +1.202.778.9881 Jeffrey Prost [email protected] +1.202.778.9364 11710

Consumer Financial Services Group Highlights of 2012 Activities 8 Anchorage Austin Beijing Berlin Boston Brisbane Brussels Charleston Charlotte Chicago Dallas Doha Dubai Fort Worth Frankfurt

Harrisburg Hong Kong Houston London Los Angeles Melbourne Miami Milan Moscow Newark New York Orange County Palo Alto Paris Perth Pittsburgh Portland Raleigh Research Triangle Park San Diego San Francisco São Paulo Seattle Seoul Shanghai Singapore

Spokane Sydney Taipei Tokyo Warsaw Washington, D.C. Wilmington

K&L Gates practices out of 48 fully integrated ofﬁces located in the United States, Asia, Australia, Europe, the Middle East and South America and represents leading global corporations, growth and middle-market companies, capital markets participants and entrepreneurs in every major industry group as well as public sector entities, educational institutions, philanthropic organizations and individuals. For more information about K&L Gates or its locations, practices and registrations, visit www.klgates.com.

This publication is for informational purposes and does not contain or convey legal advice. The information herein should not be used or relied upon in regard to any particular facts or circumstances without ﬁrst consulting a lawyer.