Snell & Wilmer L.L.P.

  • Established in 1938
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Financial Services Litigation

Client and Industry Challenges

Operating in an increasingly complex and volatile regulatory environment, and infrequently faced with consumer class action efforts, financial institutions often seek experienced outside counsel to manage and mitigate their risks and strategically execute their business objectives.

Snell & Wilmer's financial services litigation group is experienced in representing all aspects of the financial services industry in a broad range of litigation matters. Our team adds value through efficiency by possessing a thorough working knowledge of all applicable federal and state statutes, common forms of account documentation and related case law, including the Truth in Lending Act, Fair Credit Reporting Act, Real Estate Settlement Procedures Act, Homeownership Equity Protection Act, Equal Credit Opportunity Act, Uniform Commercial Code, consumer fraud statutes and related state law counterparts.

Our financial services attorneys have represented financial institutions in mediation, arbitration, trials and appellate matters in cases ranging in size from individual consumer cases to nationwide class actions. Our attorneys also have experience with interfacing with state and federal regulatory organizations, as well as the representation of bank officers and directors in D&O litigation and internal investigation experience.

Clients We Serve

Our comprehensive service to the financial services industry includes the representation of national and local banks, investment and commercial banking organizations, venture capital firms, investment advisors, merchant processing and service organizations, insurance companies, credit card issuers, mortgage lenders and servicers, automobile and motorcycle finance and servicing organizations and securities broker-dealers in matters involving a variety of business and product lines.

Why Clients Select Us

Experienced and Client-Focused: Our financial services attorneys are an interdisciplinary group comprised primarily of members of our commercial litigation, securities litigation and investigations, commercial finance and bankruptcy groups. Attorneys in each of these practices have a focus on and have significant experience representing a wide range of financial institutions. Our attorneys have extensive experience in establishing good working relationships with our client's internal litigation support personnel to effectively provide the early assessment necessary to ensuring cost-effective management of individual consumer cases.

Experience

Our representative financial services litigation matters include:

  • Represented multiple mortgage lenders and servicers in hundreds of matters commenced by homeowners seeking to prevent residential loan foreclosures throughout the West
  • Assisted with lender liability claims including loan commitments, bad-faith dealing, termination of credit and wrongful acceleration of foreclosure
  • Represent national mortgage finance company/secured creditor in SEC receivership concerning loans secured by numerous multifamily properties
  • Represent lender/mortgage loan servicer in federal False Claims Act litigation over allegedly false certifications to Fannie Mae and Freddie Mac concerning homeowners’ associations assessments
  • Defended financial institutions in matters arising under the Fair Credit Reporting Act, Fair Debt Collections Practices Act, Truth in Lending Act, Telephone Consumer Protection Act and various federal and state consumer protection statutes
  • Assisted with demand deposit account disputes involving, check fraud, check kiting, presentment and clearing issues
  • Served as counsel in residential mortgage litigation involving interest rate disclosures, fees, payoff amounts, account reconciliation, insurance coverage, foreclosure and loan modification issues
  • Served as counsel in merchant processor litigation involving hold-backs, unauthorized business lines, termination, fees, commissions for merchant processor sales representatives, and contract disputes involving merchant account agreements
  • Served as counsel in credit card litigation involving allegations of fraudulent transactions, authorized users, reversed charges, application of payments, interest rate disclosures and modifications, change in terms, fees and disclosures for related products and services, Fair Credit Reporting Act and Truth in Lending Act issues
  • Represented a national banking organization in litigation arising out of alleged participation of senior bank officer in Ponzi scheme
  • Represented multiple national banking associations and credit card issuers in matters throughout the West in connection with issues arising from fraudulent debt avoidance schemes utilizing sham arbitration awards issued by unauthorized arbitration forum
  • Defended a regional bank in $15 million litigation arising out of its sale on the secondary market to investment bank of 60 "Alt A" mortgage loans originated in 14 states for securitization and sale to investors. One of the first litigation matters in the country arising out of the "subprime mortgage crisis." Issues included the adequacy of the original origination and appraisal efforts, potential breach of sales representations and warranties, sufficiency of servicing efforts, analysis of the true cause of mortgage defaults and the adequacy of REO liquidation efforts
  • Represented former officers and directors of failed bank in connection with FDIC subpoena and investigation
  • Represented financial institutions in connection with commercial loan disputes including obtaining appointment of Receiver, enforcing loan documents, enforcing personal guaranties and navigating issues presented by loss sharing agreements with the FDIC

Financial Services Class Action Litigation

Snell & Wilmer's financial services litigation attorneys have significant experience defending national financial services institutions and Fortune 500 companies in state and national class action litigation alleging various consumer claims and regulatory violations, including experience with MDL proceedings in class actions.

  • Represented national banking association in Truth in Lending Act class action arising out of interest rates assessed in connection with co-branded affinity credit card agreements
  • Represented national banking association in a nationwide class action relating to late fees assessed in connection with revolving credit card accounts. Facilitated early resolution of the matter, negotiated, documented and administered settlement with nationwide class
  • Represented national financial institution in a purported nationwide class action arising out of fees assessed in connection with consumer payoff of residential mortgage loans

Broker-Dealer Representation

The FINRA arbitration and securities litigation practice of our financial services litigation team includes representing a number of financial institutions, including retail and investment banks, commercial lenders, underwriters, broker-dealers, investment advisors and privately-held companies in federal and state courts and SRO arbitration proceedings. Snell & Wilmer's financial services litigation team has represented such clients in matters involving claims for violations of federal and state registration and securities fraud statutes, unsuitability, selling-away, churning, unauthorized trading and failure to supervise. Our attorneys also represented brokers and broker-dealers in regulatory investigations and related proceedings.

Employment Counseling & Litigation

Snell & Wilmer attorneys have significant experience counseling financial institutions regarding a broad range of employment issues, as well as representing financial institutions in employment litigation. Having experienced employment counsel who understand the unique concerns that face financial institutions is critical. Our financial services employment attorneys have the knowledge and experience to provide innovative and effective representation to our financial institution clients in a broad range of employment matters.

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Peer Reviews

4.8/5.0 (720 reviews)
  • Legal Knowledge

    4.8/5.0
  • Analytical Capability

    4.8/5.0
  • Judgment

    4.8/5.0
  • Communication

    4.8/5.0
  • Legal Experience

    4.8/5.0
  • 5.0/5.0 Review for Mr. Robert Feinberg by a Judge on 05/03/13 in Civil Litigation

    Mr. Feinberg was in the public sector when he joined my firm in the early to mid 1990s. I was very impressed with him then and, when I left private practice to take the bench, I know that he continued to have an excellent reputation working at his pr... Read more

    Read more
  • 5.0/5.0 Review for Nathan Davis by a Managing Partner on 04/15/13 in Civil Litigation

    This is one of the best and most honest lawyers I have opposed in many years. He has talent beyond his years.

Peer reviews submitted prior to 2008 are not displayed.

Client Reviews Write a Review

Diversity

Snell & Wilmer has a deep and longstanding commitment to developing, maintaining and fostering an inclusive and accepting environment rich in diversity. By hiring and retaining a diverse group of attorneys whose collective talents and creativity are drawn from a broad cross-section of backgrounds and outlooks, we enhance our ability to offer superior legal services to our clients.

To boost our efforts, Snell & Wilmer’s Attorney Development, Hiring, and Diversity Committees will ensure that the firm continues to value and promote diversity through focused hiring, development and community efforts.

Commitment to Students

Snell & Wilmer believes that its efforts to reach out to students at every level will increase diversity within the legal profession. Snell & Wilmer is committed to fostering relationships with students.

In our Phoenix, Tucson, Las Vegas, Salt Lake City, and Denver offices, Snell & Wilmer hires diverse law students as interns in connection with the firm’s support of area law schools’ diversity legal writing programs. Current diverse attorneys are involved with the selection of the students and in the administration of the program. The intern is assigned several written projects and receives feedback from assigning attorneys. The intern also is paired with mentors at the firm who coordinate social meetings with partners from various practice groups throughout the internship to assist in developing the intern’s understanding and exposure to various types of legal work. Interns also have opportunities to attend hearings, depositions, and meet clients.

For the past several years, Snell & Wilmer has led the efforts in Arizona for the American Bar Association Section of Litigation’s Judicial Internship Opportunity Program. This nationwide program enables diverse and economically-disadvantaged second-year law students to obtain a judicial internship during one summer. A large component of the program includes mentoring and administrative efforts to offer social activities throughout the summer. Snell & Wilmer attorneys participate in this program as mentors, as social programming coordinators, and as the lead contacts for questions from the Phoenix students.

As part of its focus on encouraging diverse students to pursue legal careers, Snell & Wilmer’s attorneys engage in multiple in-person activities with high school and elementary students. For example, Snell & Wilmer hosts high school students interested in a legal career and their families for a reception and tour of the firm. Additionally, attorneys attend career fairs at local high schools that have a major concentration of ethnically diverse students in an effort to encourage interest in a legal career. Snell & Wilmer also has partnered with a Phoenix elementary school to provide math and reading tutors and to invite the students for a day at the office.

Several attorneys also participate in the MentoRing program in association with the Hispanic National Bar Association and the Arizona State University Sandra Day O’Conner College of Law. The MentoRing program partners minority undergraduate and law students with practicing attorneys in an effort to provide multi-layered mentoring.

Snell & Wilmer’s Diversity Committee is working to establish and implement the Snell & Wilmer Pre-Law Program targeted at diverse undergraduate students. In 2009, the Diversity Committee implemented the LSAT Scholarship component of the Pre-Law Program and awarded three scholarships to diverse students to attend an LSAT preparation course of their choosing. The Diversity Committee looks forward to growing this program in 2010.

Commitment to Community

As a corporate member of the Diversity Leadership Alliance ("DLA"), Snell & Wilmer participates in promoting and furthering diversity in the work place by exchanging ideas regarding diversity initiatives with other businesses. Membership in DLA allows Snell & Wilmer to participate in monthly seminars focused on diversity topics.

Snell & Wilmer is also a signatory to the Colorado Pledge to Diversity. In 1993, as a result of the collaborative efforts of twenty-three Denver law firms, a plan was launched to significantly increase the number of racially and ethnically diverse attorneys recruited, hired and promoted by law firms in Colorado. These law firms signed a Pledge to Racial and Ethnic Diversity in Colorado Law Firms and meet regularly to determine the means in which to achieve the goals set forth in the pledge. Some programs and activities have been: (1) hiring a first-year diverse law student as a summer intern; (2) co-sponsorship of annual Diversity in the Work Place Reception; (3) award of four book scholarships to local diverse law students; and (4) sponsorship of the annual Rocky Mountain Minority Legal Career Fair.

Snell & Wilmer attorneys personally involve themselves with organizations dedicated to diversity, including Women Lawyers groups, Minority Bar Associations, and Human Rights groups dedicated to the LGBT community. Additionally, attorneys are actively involved with area volunteer lawyer groups and organizations that address legal issues affecting minorities and under-represented groups, including the Judicial Council Task Force on Racial and Ethnic Fairness in the Criminal and Juvenile System.

Commitment to Professional Development

All associate attorneys are provided with a Coach (mentor) to guide them through all stages of their associate careers - from first-year challenges to partnership consideration. Coaches are provided materials designed to support them in their role. Coaches are expected to check-in with associates on a regular basis and engage in discussions with the associate concerning firm culture and the practice of law. Coaches also are responsible for fostering connections with other partners throughout the firm and various practice groups. The firm encourages informal mentoring among its attorneys and promotes various social events, both firm-wide and practice group-specific, to develop and strengthen interpersonal relationships and relationships with families. Additionally, the Attorney Development Manager checks-in with attorneys to assess the firm’s efforts of inclusion and whether changes to the mentoring relationship are necessary.

Named for Snell & Wilmer’s first woman partner, the Mary Leader Women in Leadership Program aims to promote women inside and outside of the firm through events in each of our offices. Examples of past events include afternoon lunches, a spa day, networking events with clients, golf clinics, and an annual holiday party.

Commitment to Family

Snell & Wilmer is committed to providing our attorneys with a meaningful opportunity to balance professional and personal demands. The firm offers 12 weeks of paid maternity and paternity leave to attorneys for the birth or adoption of a child. The firm recognizes that, at times, attorneys may have family obligations or personal needs that may merit either adjusting or reducing their work schedules. As a result, the firm considers alternative work arrangements on a case-by-case basis. The consideration of proposals will take into account the needs of the attorney, the practice group, the firm, and our clients.

Domestic Partner Benefits are provided to same-sex couples of both attorneys and staff.

Additional Information

For additional information about Snell & Wilmer’s diversity programs, initiatives and efforts, please contact the Chairperson of Snell & Wilmer’s Diversity Committee, Monica Limón-Wynn.

 

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