Lee Gilley represents financial institutions, including banks, mortgage companies, and debt collectors, in litigation and regulatory matters related to compliance with ECOA, EFTA, FCRA, FDCPA, GLBA, HPA, RESPA, TILA, CFPB regulations, and numerous other state laws and regulations. 

Lee advises clients during examinations and investigations conducted by the CFPB, state financial regulators, state attorneys general, the Department of Housing and Urban Development (HUD), the Department of Justice (DOJ), the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve. He has worked with clients to successfully challenge exam findings and, where appropriate, resolve issues through settlement. Lee frequently represents clients in sensitive internal compliance reviews and investigations where he works closely with business, legal, and compliance leaders to identify process issues and develop workable solutions. He routinely advises clients on unique issues associated with Consent Order compliance. 

Lee’s work on these high-risk, sensitive matters allows him to interact with top executives in the financial services industry including chief executive officers, chief financial officers, chief compliance officers, and general counsel, as well as senior officials at various regulators. These interactions combined with his experience in examinations, investigations, and bet-the-company matters allow him to provide unique, practical insights regarding regulatory expectations and industry practices that go beyond the words of the legal requirement at issue.
 
Notable Matters
  • Bet-the-Company Matters: (1) United States v. Bank of America, et. al.; (2) United States v. SunTrust Mortgage, Inc.;  (3) United States v. HSBC North America Holdings, Inc. et. al.; and (4) Consumer Financial Protection Bureau, et. al. v. Ocwen Financial Corporation and Ocwen Loan Servicing, LLC. Negotiated successful outcomes in complex, national bet-the-company matters that resulted in settlements with 49 state attorneys general, the DOJ, CFPB, HUD, Executive Office of the United States Trustees, 48 state financial regulators, and other government parties. United States v. Bank of America, et. al.  was the largest joint state/federal settlement in history, and  clients collectively had more than $3.5 billion at issue in these settlements.  
  • Investigations: Represented multiple financial services clients in investigations initiated by government regulators, including the attorneys general for California, Colorado, Connecticut, Florida, Iowa, North Carolina, Massachusetts, Ohio, and Washington, as well as the California Department of Business Oversight, Consumer Financial Protection Bureau, Maryland Department of Labor, Licensing, and Regulation, Minnesota Department of Commerce, and Multi-State Mortgage Committee.  
  • Examinations: Represented multiple financial services clients, including some of the country’s largest non-bank mortgage servicers, in successful examinations that allowed clients to avoid enforcement actions. 
  • Internal Compliance Investigations and Reviews: Represented multiple financial services clients during internal compliance reviews to identify and correct potential compliance issues. Reviews included risk assessments and mock examinations to assist clients in preparing for anticipated regulatory scrutiny.  
  • Consent Order Compliance: Represented multiple financial services clients in ongoing Consent Order obligations to develop and implement plans to comply with Consent Order requirements and avoid additional regulatory scrutiny.