Michael Aphibal advises clients on regulatory issues affecting financial institutions, including banks, non-bank lenders, and insurance agencies. His work focuses on concerns surrounding the offering of consumer financial products and services, including licensing, employee compensation, loan origination and servicing, customer information sharing and privacy, consumer disclosures, telemarketing, and the sale of ancillary (add-on) products, particularly debt protection products. He helps clients provide both secured and unsecured loans to their customers, such as mortgages, credit card loans, installment loans, and short-term small-dollar loans.
Michael deals with the following consumer finance laws: Gramm-Leach-Bliley Act (GLBA) and Fair Credit Report Act (FCRA) privacy; prohibitions against unfair, deceptive, and abusive acts and practices (UDAAP); Telemarketing Sales Rule (TSR); Telephone Consumer Protection Act (TCPA); Truth in Lending Act (TILA); Real Estate Settlement Procedures Act (RESPA); Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act); and OCC’s regulation governing debt protection products.
Michael is also experienced with insurance regulatory issues affecting producers, including insurance agency and broker licensing (both individual and entity licensing), producer compensation and associated disclosures, commission splitting and referral fees, anti-rebating, insurance advertising, and permitted charges for insurance.
Michael is an active member of the Consumer Financial Services Committee of the American Bar Association and is a Young Lawyer Liaison within the committee.