Businesses of all types and sizes throughout the United States, Mexico and beyond bring their disputes to Gardere's litigation team and receive practical, responsive, boutique-style attention in return. Our clients have access to the firepower and value of a well-known and highly-regarded Firm's capabilities and interdisciplinary strengths.
Gardere has a national and international energy practice formed around our Energy Industry Team, which is a multidisciplinary group of approximately 60 attorneys with diverse backgrounds, experience and skills specific to the energy industry. Our team includes attorneys who have served as in-house counsel for major energy companies, providing a depth of insight into our clients' needs, issues and concerns. We understand and regularly practice in virtually every sector of the energy, and we represent a wide variety of industry participants from multinational corporations to individuals.
From our offices in the United States and Mexico, our International Practice helps clients operate in today’s global economy. We have more than 30 professionals operating as a boutique within an Am Law 200 law firm and are able to provide focused service with the resources of a large firm. We understand that clients who are engaged in the global marketplace need lawyers who can operate seamlessly across multiple jurisdictions. Our international experts are multi-lingual, are culturally fluent and intimately familiar with various legal systems across the world, especially those in Latin America. Whether you need help with commercial transactions, regulatory matters, customs and import regulations, immigration matters, M&A and joint ventures, international disputes, or international tax planning, Gardere’s international team is here to assist you.
We represent domestic and foreign private funds in all aspects of fund formation, fund operations, platform and add-on acquisitions, and portfolio company operations. Our team has a reputation for being the go-to-lawyers for private equity funds, hedge funds, venture capital funds and family offices. We are known for our vast deal experience, the efficient way we staff and manage our work, and the way we maintain our relationships. We get deals done with sophisticated, strategic, and practical advice tailored to the needs of our clients.
*Not admitted to practice law.
As previously noted in Gardere's Jan. 18 Corporate Alert, the Consumer Financial Protection Bureau recently expanded its supervisory authority over traditional banking institutions to also encompass nonbanks that offer consumer financial products and services. The CFPB broadly defines nonbanks as those offering or providing consumer financial products or services without a bank, thrift or credit union charter. The CFPB is currently overseeing the following nonbank businesses, regardless of size: mortgage companies (originators, brokers and servicers, and loan modification or foreclosure relief services); payday lenders; and private education lenders. However, for other markets – such as debt collection, consumer reporting, auto financing and money services businesses – the CFPB only has the authority to supervise "larger participants." Based on recent rulemaking, it appears that the CFPB will define "larger participant" differently depending on the specific market.
In the first of an anticipated series of proposed rules regarding larger participants, the CFPB announced a proposed rule applying to debt collectors and consumer reporting agencies on Feb. 16, 2012. According to the proposed rule, debt collectors with more than $10 million in annual receipts from debt collection activities would be subject to CFPB supervision. The CFPB estimates that this would account for approximately 4 percent of all debt collection firms, but which account for 63 percent of annual receipts from the debt collection market. In addition, under the proposed rule, consumer reporting agencies with more than $7 million in annual receipts from consumer reporting activities would be subject to supervision, which according to CFPB estimates, would account for approximately 30 consumer reporting agencies and 94 percent of annual receipts from consumer reporting.
The CFPB must issue a final definition of "larger participants" by July 21, 2012. Comments must be received on or before April 17, 2012. The CFPB's proposed rule may be viewed here.
Gardere Attorneys Chris Converse (email@example.com or 214.999.4903) and Glenn T. Singleton (firstname.lastname@example.org or 214.999.4646), authors of this alert, are available to discuss any questions you might have regarding the CFPB. Please also feel free to contact any members of Gardere's Corporate Team.
The publications contained in this site do not constitute legal advice. Legal advice can only be given with knowledge of the client's specific facts. By putting these publications on our website we do not intend to create a lawyer-client relationship with the user. Materials may not reflect the most current legal developments, verdicts or settlements. This information should in no way be taken as an indication of future results.
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