Law Firms Create Divisions to Fight Consumer Financial Protection Bureau
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

The government recently created the Consumer Financial Protection Bureau, which has created new rules for credit card issuers and lenders. The organization has also been given supervision over credit unions, large banks, private student lenders, payday loan companies and credit reporting agencies. Law firms are now making plenty of money off protecting people from this new organization.

One such law firm, that of Ballard Spahr, created a team of lawyers that study the CFPB and the power that it has. The CFPB was created when the Dodd-Frank Act was signed into law in July of 2010. The team of lawyers, which stands at 20 members, is a section of the firm’s Consumer Financial Services division.


According to the chair of Ballard Spahr’s Consumer Financial Services Group, Alan Kaplinsky, the revenue of the division has increased by 50 percent since it was created. “Things have exploded, and we’ve seen just the tip of the iceberg,” Kaplinsky said, according to Hartford Business.

“The CFPB is not cognizant about what kind of burden they might be placing on a company,” Kaplinsky said. “It looks like they’re going on a fishing expedition, they go through so many papers … eventually they will decide they don’t see anything wrong or they will identify one or two practices [that they take action on].”

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!



Products Paralegal

USA-CO-Greenwood Village

Jordan Herington & Rowley is seeking an experienced litigation paralegal to work closely with produc...

Apply now

Real Estate Paralegal


Job Title: Real Estate Paralegal Company: Midsize and AmLaw Firms   Location: Downtown, M...

Apply now

Case Manager and Intake Specialist

USA-CA-Newport Beach

Case Manager and Intake Specialist Dynamic Orange County criminal defense and personal injury law...

Apply now

Criminal Defense Attorney

USA-CA-Los Angeles

Criminal Defense Attorney Successful, growing criminal defense and professional license defense l...

Apply now




Search Now

Corporate/Transactional Attorney

USA-IA-Des Moines

Des Moines office of a BCG Attorney Search Top Ranked Law Firm seeks corporate/transactional attorne...

Apply Now

Corporate Attorney / Counsel

USA-NY-New York City

New York City office of a BCG Attorney Search Top Ranked Law Firm seeks corporate attorney with 5+ y...

Apply Now

Housing Finance Associate Attorney


Minneapolis office of a BCG Attorney Search Top Ranked Law Firm seeks a housing finance associate at...

Apply Now

Most Popular


To Top