DAVID MONTEIRO advises companies across the financial services industry—including banks, broker-dealers, fintechs, and their investors, underwriters, and lenders—on their most complex consumer protection issues. He has represented financial services companies in significant investigations, enforcement actions, and high-risk supervisory matters before the Consumer Financial Protection Bureau, Federal Trade Commission (FTC), Office of the Comptroller of the Currency, FINRA, U.S. Securities and Exchange Commission, U.S. Department of Justice, Federal Deposit Insurance Corporation, U.S. Department of Housing and Urban Development, federal offices of inspectors general, and state financial regulators and attorneys general.
David helps clients evaluate and develop practical solutions to mitigate risks under an array of federal and state consumer protection laws, including the prohibitions on unfair, deceptive, and abusive acts and practices (UDAAP) under the FTC Act, the Dodd-Frank Act, and state consumer protection laws; antidiscrimination laws including the Equal Credit Opportunity Act (ECOA); telemarketing laws and regulations; the full range of consumer laws and regulations under the CFPB’s and banking agencies’ jurisdictions; and state laws regulating consumer lenders, brokers, and servicers. He conducts internal investigations of potential compliance systems gaps and consumer protection risks identified by whistleblowers, regulators, and internal monitoring to assist clients in building compliance enhancements, assessing customer remediation, and navigating self-reporting. David brings his perspective as both a former enforcement attorney with the FTC’s Bureau of Consumer Protection, Division of Financial Practices and an appellate litigator to help clients manage the resulting enforcement and litigation risk.
David draws on his understanding of the breadth and interrelationship of financial services clients’ customer-facing business in providing enterprise-level advice to complex financial institutions. He advises clients on consumer protection risks that span regulatory domains, including private and wealth management banking; open banking and cross-marketing; the application of federal consumer protection laws to bank-affiliated broker-dealers; and the interaction between state licensing regimes, federal law, and FINRA rules in independent broker-dealers’ offering of third-party lending and deposit products.
David also advises investors, institutional lenders, and securitization underwriters on managing direct and indirect consumer protection risks arising from transactions involving fintech companies and associated consumer and small business receivables across an array of asset classes. David has advised on traditional lending products, as well as emerging products such as solar loans, home equity investment contracts, buy-now pay-later financing, and cryptocurrency-backed lending. In these transactions, David assists clients in identifying and mitigating the risks posed by state licensing, usury, and disclosure laws, as well as federal consumer protection law, in bank partnership arrangements and novel fintech products.
David has litigated matters for financial services and other clients before federal courts and FINRA arbitration panels and has handled multiple appeals. He draws on this firsthand experience and works closely with the firm’s litigation team to help provide practical insights into potential litigation outcomes that inform his approach to government investigations, compliance management, and transactional advice.