Firms To Watch: Financial services litigation

With the recent addition of former SEC counsel in investment fund management David Bartels, Dechert LLP has strengthened its deep regulatory bench. Catherine Botticelli  and Jonathan Streeter, based in Washington DC and New York respectively, lead the practice, and both focus on securities enforcement and internal investigations, with an emphasis on insider trading and securities fraud.
King & Spalding LLP has expanded its financial services industry team, led by Damien Marshall, through the recent hiring of several partners from across firms throughout 2022. This includes Matthew Biben and Mark Kirsch who joined from Gibson, Dunn & Crutcher LLP. Jamie Dycus also joined the firm from WilmerHale, and focuses on class actions regarding antitrust, securities and consumer protection matters. All lawyers mentioned are based in New York.
Co-chaired by Bruce Paulsen and Michael Considine, Seward & Kissel LLP’s New York-based litigation group has a focus on regulatory and enforcement issues, acting for financial institutions and asset management companies. The recent arrival of Russell Johnston and Michael Watling from King & Spalding LLP in late 2022 has strengthened the firm’s enforcement and internal investigations capacity.

Financial services litigation in United States

Cleary Gottlieb Steen & Hamilton

The white-collar defense, securities enforcement and internal investigations practice at Cleary Gottlieb Steen & Hamilton boasts a client base of major financial institutions and large corporations, handling a significant amount of enforcement and compliance matters including investigations by the DOJ, SEC and FTC. This element of the practice is bolstered by the firm’s bench of former prosecutors including former Acting US Attorneys and SEC officials, including the August 2022 arrival of former trial attorney at the DOJ, counsel Elsbeth Bennett. The firm has advised various financial institutions on internal investigations relating to the Archegos melt-down, as well as the CEO of Ripple facing enforcement action brought by the SEC regarding whether the crypto service provider’s token, XRP, is a security. The practice is co-led by Lev Dassin, based in New York, and Robin Bergen and Giovanni Prezioso, both based in Washington DC. Former federal prosecutor Victor Hou, based in New York, focuses on white collar criminal defense, government enforcement work and securities litigation, including representing Goldman Sachs in multiple regulatory FX matters. Also in New York is Rishi Zutshi who focuses on financial products litigation. Lastly is Matthew Solomon, based in DC, who leverages his experience as former SEC Chief Litigation Counsel to advise on supervisory and regulatory matters as well as white-collar jury trials.

Practice head(s):

Lev Dassin; Robin Bergen; Giovanni Prezioso

Other key lawyers:

Matthew Solomon; Victor Hou; Elsbeth Bennett; Rishi Zutshi

Key clients

Assured Guaranty

Bank of America

Bank of New York Mellon

BNP Paribas


Credit Agricole

Crédit Lyonnais, S.A.

Goldman Sachs


National Westminster Bank plc

Polychain Capital

Synchrony Financial

Two Sigma Securities, LLC

Bank of America


Work highlights

  • Advising multiple financial institutions in connection with the various criminal regulatory inquiries in the U.S., including the DOJ, and around the world related to the multi-billion dollar meltdown of the family office of Bill Hwang, Archegos.
  • Advising the CEO of fintech company Ripple in connection with an SEC investigation of the company, and in an enforcement action brought by the SEC in the United States District Court for the Southern District of New York including the question of whether XRP is a security presents significant ramifications for the cryptocurrency industry for Ripple, and its CEO.
  • Advising multiple Citibank entities, including Mexico-based Citibanamex, in class action litigation brought in the Southern District of New York against Citi and 8 other banks under the federal antitrust laws for unjust enrichment and for alleged collusion in connection with the sale of Mexican Government Bonds.

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP is a recognized financial services litigation firm with deep experience across antitrust, securities and consumer class actions. The firm represents major banks including JPMorgan, American Express and Citigroup on matters involving antitrust enforcement actions, putative class actions and residential mortgage-backed securities. With increasing activity in the fintech sector, the firm has demonstrated capacity in this area, continuing to represent Dfinity in class action securities litigation concerning the system’s governance tokens and whether these qualify as securities subject to government regulation. The litigation practice is co-led by Gary Bornstein and Kevin Orsini. Daniel Slifkin is also a key name to note for his experience in antitrust and securities claims. Meanwhile, Michael Paskin and Lauren Moskowitz are recognized for their focus on representing large financial institutions in financial product matters including RMBS. Moskowitz is also noted for her activity in bankruptcy proceedings. All lawyers named are based in New York.

Practice head(s):

Gary Bornstein; Kevin Orsini

Other key lawyers:

Daniel Slifkin; Lauren Moskowitz; Michael Paskin

Key clients

American Express Company

Blackstone Credit

Citigroup Global Markets Inc.

Credit Suisse Asset Management

Morgan Stanley

Nomura International plc

Robinhood Markets, Inc.

Rothschild & Co SCA

Truist Bank

Westpac Banking Corporation

Work highlights

  • Representing Robinhood as lead counsel in several lawsuits arising out of Robinhood’s decision to temporarily place certain restrictions on trading in certain securities in the face of unprecedented market volatility.
  • Achieved the dismissal with prejudice of litigation filed against Morgan Stanley by Moby S.p.A. alleging that Morgan Stanley and an additional Moby noteholder tortiously interfered with Moby’s restructuring proceedings in Italy.
  • Representing Citigroup in putative class action litigation concerning the execution of several large equity trades.

Paul, Weiss, Rifkind, Wharton & Garrison LLP

With a ‘sophisticated understanding of the financial markets’, Paul, Weiss, Rifkind, Wharton & Garrison LLP is prominent in high-stakes financial services litigation, with particular emphasis on securities and antitrust matters. The firm is also active in the regulatory enforcement defense space, advising a broad selection of banks, investment management firms, payment services, fintechs and emerging crypto-focused firms. Among its client base are major financial institutions including Goldman Sachs, Morgan Stanley, Citigroup and Blackstone, involved in a range of matters relating to securities and antitrust class actions, derivates claims, regulatory investigations. The practice is led by chair of the firm, Brad Karp, based in New York, who is recognized for his expertise in regulatory investigations and enforcement defense as well as class actions. The litigation practice is co-chaired by Jessica Carey, also in New York, and Ken Gallo, in Washington DC. Carey concentrates on white collar and regulatory investigations into financial institutions and Gallo specializes in antitrust, patent and trade secret disputes. Meanwhile the firm’s securities litigation group in New York is co-chaired by Susanna Buergel, Andrew Ehrlich and Audra Soloway. Daniel Kramer is another key name to note for the firm’s securities expertise, particularly regarding class action defense.

Practice head(s):

Brad Karp; Jessica Carey; Ken Gallo; Susanna Buergel; Andrew Ehrlich; Audra Soloway

Other key lawyers:

Daniel Kramer; Staci Yablon; Roberto Gonzalez


‘Paul Weiss has a sophisticated understanding of the financial markets, as reflected in the breadth of the cases they have handled and the experience of their partners both with Paul Weiss and in public service.’

‘Staci Yablon is an practical, no-nonsense litigator who gets things done. Clients appreciate her realistic perspective, her ability to cut to the chase, and her commitment to client service no matter how complex a matter may be.’

‘Roberto Gonzalez is whip-smart and an excellent strategist. He has great instincts for how courts are likely to respond to arguments, and his litigation skills are top notch. He also has a deep understanding of key issues impacting financial institutions (e.g., sanctions) due to his experience in government.’

Key clients


Nomura Holding America

Citigroup, Inc.

Ocwen Financial Group

Credit Suisse

PayPal, Inc.

Fireman Capital Partners

Ripple (XRP)

Goldman Sachs & Co.

Roark Capital Group

Mastercard International, Inc.

Vanguard Independent Trustees

Morgan Stanley

Virtu Financial

Quinn Emanuel Urquhart & Sullivan, LLP

Quinn Emanuel Urquhart & Sullivan, LLP is distinguished for its leading plaintiff practice, representing clients in complaints against major financial institutions and banks with experience in market manipulation cases, particularly regarding gold as well as foreign exchanges and anti-competitive behavior by banks. The practice is co-led by Jonathan Pickhardt and Daniel Brockett, based in New York, and Harry Olivar and Richard Schirtzer based in Los Angeles. Brockett is noted for his prominence in the plaintiff securities, antitrust, structured finance and derivatives litigation space. Andrew Rossman, operating in the firm’s New York office, is also a key name to note in relation to commercial litigation around derivatives, securities and bankruptcy with a focus on representing private equity firms in their recovery efforts. Manisha Sheth, co-chair of the firm’s government and regulatory litigation practice in New York, is experienced in securities and antitrust litigation, often acting as lead counsel in several trials at both state and federal level.

Practice head(s):

Jonathan Pickhardt; Daniel Brockett; Harry Olivar; Richard Schirtzer

Other key lawyers:

Manisha Sheth; Andrew Rossman

Key clients

Torus Capital LLC

Iowa Public Employees’ Retirement System

Orange County Employees Retirement System; Sonoma County Employees’ Retirement Association

Los Angeles County Employees Retirement Association

Rescap Liquidating Trust

Compañía Minera Dayton

Allianz GI

Anchorage Capital




Erste Abwicklungsanstalt

Norges Bank



Portigon AG


SEI Trust Compa

Public School Teachers’ Pension and Retirement Fund of Chicago

Los Angeles County Employees Retirement Association

Prudential Investment Portfolios 2

Dryden Core Investment Fund

Prudential Core Short-Term Bond Fund

Prudential Core Taxable Money Market Fund

The City of Philadelphia and Pennsylvania Intergovernmental Cooperation Authority

Darby Financial Products

Capital Ventures International

Salix Capital

The City of Philadelphia

Cleveland Bakers and Teamsters Pension Fund

Cleveland Bakers and Teamsters Health and Welfare Fund

MASTERINVEST Kapitalanlage GmbH

Uniqa Capital Markets GMBH

Torus Capital, LLC

Altor BioScience, LLC

NantCell, Inc.

Edmar Financial Company, LLP

Irish Blue & Gold, Inc.

Mirae Asset Global Investment

Simpson Thacher & Bartlett LLP

With several major financial institutions among its clients, Simpson Thacher & Bartlett LLP boasts a strong financial services practice with a ‘high degree of expertise in securities litigation’. The firm also has experience navigating complex SEC investigations into clients including JPMorgan and Barclays. The practice is led by Jonathan Youngwood and Lynn Neuner in New York- Youngwood is highly regarded for his experience in securities litigation, particularly class actions, SPAC-related litigation and acting for underwriters in litigation arising from IPOs, while Neuner is also recognized as a leading lawyer in the commercial and securities litigation space. Also in New York is Joseph McLaughlin, who specializes in class actions, primarily relating to securities, and shareholder derivative litigation. Similarly, Craig Waldman, who is also based in New York, focuses on securities litigation including class and derivative actions, in addition to his experience in private equity and corporate transaction-related litigation. Senior counsel Simona Strauss, based in Palo Alto, is another key individual for the firm’s securities expertise, while she also concentrates on M&A litigation and regulatory investigations.

Practice head(s):

Lynn Neuner; Jonathan Youngwood

Other key lawyers:

Joseph McLaughlin; Craig Waldman; Simona Strauss; Stephen Blake


‘High degree of expertise in securities litigation’

‘My experience has been with Simona Strauss. She has extraordinary knowledge of the legal and practical issues involved in securities litigation defense. She is also highly effective in communicating this to non-lawyers. I would recommend her to anyone, anytime.’

‘I have had very good experiences with Jonathan Youngwood and Stephen Blake. They are both very practical lawyers who are able to apply deep experience and substantive knowledge to very difficult problems and find the best possible outcomes, even when no good options are apparent.’

Key clients


Apiture, Inc.

Banc of California


The Blackstone Group, L.P.

Brighthouse Financial, Inc.


Countrywide Home Loans, Inc.

Deutsche Bank Group

GO Acquisition Corp.

Goldman Sachs

International Swaps and Derivatives Association, Inc.


Kohlberg Kravis Roberts & Co.

Morgan Stanley & Co. Inc.

MultiPlan Corp.

Paysafe Limited

The Toronto-Dominion Bank

Work highlights

  • Advised JPMorgan in an SEC investigation and $125m settlement related to texting practices by personnel and obligations to maintain and preserve copies of all written communications.
  • Advised DB Structured Products, Inc. in obtaining an appellate victory in dismissal of a “revival” action in RMBS litigation.
  • Represented JPMorgan in obtaining an appellate victory in dismissal of suit arising out of Petters Ponzi scheme.

Latham & Watkins LLP

Latham & Watkins LLP is active across the financial services landscape, servicing a variety of clients including commercial and investment banks, hedge funds, fintech and digital trading companies, and accounting firms. A number of practitioners at the firm have served in the DOJ and the SEC, offering a deep bench of expertise in the area of regulatory investigations and enforcement. The practice is further supported by the firm’s broad expertise in the financial regulatory space, which has recently expanded across key locations such as Hong Kong and London. This is underscored by expansion in the financial services litigation practice in September 2022, with Christopher Garcia and Raquel Kellert joining the firm from Weil, Gotshal & Manges LLP, in addition to Marissa Alter-Nelson and John V.H. Pierce (who arrived in June) joining from Sidley Austin LLP and WilmerHale respectively. The practice is led by Andrew Clubok, Douglas Yatter  and Joseph Serino, based in New York. Richard Owens , also in New York, is regarded for his expertise in white collar investigations and defense and Heather Waller, in Chicago, focuses her practice on investigations by the SEC, DOJ and state securities regulators, with experience in the oil and gas, industrial and financial services and asset management sectors.

Practice head(s):

Andrew Clubok; Douglas Yatter; Joseph Serino

Other key lawyers:

Heather Waller; Richard Owens; Christopher Garcia; Raquel Kellert Marissa Alter-Nelson; John V.H. Pierce

Key clients

Goldman Sachs



Credit Suisse

UBS Securities LLC and UBS AG London Branch

Deutsche Bank


Samuel Reed

Andreessen Horowitz

Navient Corporation

Riverstone Holdings LLC

Mayer Brown

Representing several major financial institutions, Mayer Brown has a mandate for high-profile financial services litigation relating to anti-terrorism, including the recent success representing HSBC in the Bernhardt case regarding anti-terrorism lawsuits in the banking community. The firm represents a range of banking and funds clients and has experience litigating RMBS cases, submitting amicus briefs on behalf of financial service trade organizations, and defending regulatory enforcement matters by the IRS, SEC, and the FRB. Mark Hanchet and Christopher Houpt, based in New York, co-lead the firm’s global banking and finance litigation practice. Houpt concentrates on structured finance, RMBS and securitization matters and was trial counsel for Citibank in the high-profile Revlon Inc. lenders case. Hanchet is experienced in banking litigation and was closely involved in the Bernhardt case. Matthew Ingber, also based in New York, focuses on RMBS matters and was active in the private RMBS settlement in the Bank of New York Mellon case. Lucia Nale and Debra Bogo-Ernst, both based in Chicago, are experienced defending national and international financial services institutions particularly in consumer-based finance class actions.

Practice head(s):

Mark Hanchet; Chris Houpt

Other key lawyers:

Matthew Ingber; Lucia Nale; Debra Bogo-Ernst


‘Mark Hanchet is an experienced partner.’

Key clients


Société Générale

Bank of Montreal

The Bank of New York Mellon

Morgan Stanley and Invesco

Banque Pictet

Simmons Bank

BMO Harris

Work highlights

  • Achieved a high-profile victory for HSBC at the Court of Appeals for the DC Circuit in an Anti-Terrorism Act lawsuit captioned Bernhardt v. Islamic Republic of Iran, et al.
  • Acted on behalf of The Bank of New York Mellon (BNYM) as trustee for 278 residential mortgage-backed securities.
  • Assisted in the dismissal for Société Générale (SG) when, in a case of first impression, a judge in the Southern District of New York ruled that the plaintiffs’ claim under the federal Helms-Burton Act is time-barred.

Shearman & Sterling LLP

Shearman & Sterling LLP has a standout, internationally-facing financial services practice, representing both US and non-US financial institutions, including investment banks, in contentious matters that are often cross-border. The firm also has expertise regarding underwriting syndicates as well as representing clients before regulators, particularly the SEC, and in securities litigation relating to insider trading, market manipulation, accounting fraud and false statements. The practice is led by Adam Hakki, Richard Schwed, in New York, and Patrick Robbins, in San Francisco. Hakki is renowned for his expertise in securities litigation, acting for the firm’s major banking clients such as Morgan Stanley, Citigroup and Goldman Sachs on a range of significant securities matters. New York’s Daniel Lewis is another key name, representing significant banks in securities and market manipulation class actions in their role as underwriters, along with Grace Lee, who shares this focus in securities litigation in addition to her experience in bonds, and structured finance products including RMBS. The practice was joined throughout 2022 by Patrick Hein in San Francisco from the Eastern District of New York’s Attorney’s Office, Emily Black in Austin from Haynes and Boone, L.L.P., and Samuel Cooper in Houston from Paul Hastings LLP.

Practice head(s):

Adam Hakki; Richard Schwed; Patrick Robbins

Other key lawyers:

Daniel Lewis; Grace Lee; Patrick Hein; Emily Black; Samuel Cooper

Key clients


Jefferies Group LLC

Gemini Trust Company

UniCredit S.p.A.

Intercontinental Exchange Inc.

Danske Bank

JP Morgan Securities LLC


Bank of America


Cantor Fitzgerald

BNP Paribas

Merrill Lynch International

Goldman Sachs & Co.

Wells Fargo

Credit Suisse Securities (USA), LLC.

Morgan Stanley & Co.

Mizuho Securities USA LLC

Work highlights

  • Achieved a significant victory for Jefferies in a securities litigation related to the acquisition by Landcadia Holdings, Inc., a special purpose acquisition company (“SPAC”), of Waitr Holdings, Inc.
  • Representing Danske Bank in high-profile criminal and regulatory investigations relating to money laundering and securities fraud allegations, in investigations involving the DOJ, the SEC, and numerous European authorities.
  • Achieved a victory on behalf of Bank of America Mexico, S.A. (“BofA Mexico”) in a putative antitrust class action in the Southern District of New York concerning the market for Mexican Government Bonds (“MGBs”).

Arnold & Porter

Arnold & Porter is concentrated on defending claims, including class actions regarding securities fraud, fee practices and mortgage services, and regulatory investigations and enforcement actions, while occasionally representing plaintiffs. Clients include banks, companies, non-bank lenders, and trade associations. The practice consists of several attorneys with trial, appellate and Supreme Court litigation experience. New York’s Veronica Callahan is the chair of the firm’s securities, enforcement & litigation practice group, representing clients in DOJ criminal proceedings, as well as SEC and CFTC regulatory enforcement actions. The head of the firm’s financial services practice group is David Freeman, based in Washington DC, who advises financial institutions at both state and federal level on banking and securities regulatory matters. Based in New York, Kathleen Reilly and Aaron Miner are focused on regulatory litigation in relation to securities and enforcement actions.

Practice head(s):

Veronica Callahan; David Freeman; Kenneth Chernof; James Herschlein

Other key lawyers:

Aaron Miner; Kathleen Reilly

Key clients

Founder and Chief Investment Officer of Infinity Q Capital

Former Chief Legal Officer of Fortune 500 company

FirstEnergy Corp.


Special Committee of the Board of Directors of Western Union Co.


Yelp Inc.

TSR Inc.

Aegis Capital Corp.

York Capital Management

Charles Schwab


Bessemer Trust

The Charles Schwab Corporation

The Depository Trust & Clearing Company

Federated Hermes

First Republic Bank

FNB Corporation/First National Bank of Pennsylvania

Sterling Bank & Trust, FSB

Stifel Trust Company, N.A., Stifel Financial Corp. and Stifel Bank

Work highlights

  • Representing RSM US LLP in investigations by the SEC and PCAOB involving auditor independence, including with respect to the performance of non-audit services for audit clients, and accounting firm entity theories of liability.
  • Representing AIG in a coverage litigation in the SDNY Bankruptcy Court where an insured sought coverage of a settlement it reached with a class of plaintiffs during the insured’s bankruptcy.

Debevoise & Plimpton LLP

With deep regulatory experience, Debevoise & Plimpton LLP frequently advises on enforcements and investigations by bodies including the CFPB, NYDFS, DOJ, OFAC and the SEC. The firm takes a multidisciplinary approach, combining this expertise with that of corporate and other litigation practitioners to handle a range of matters including corruption, parallel civil and criminal proceedings and multiple inquiries by regulatory bodies, often relating to jurisdictions including the UK, France and Hong Kong. The practice is co-led by New York’s Mary Beth Hogan and Andrew Ceresney. Hogan focuses on investigations, particularly for educational institutions and corporations with an emphasis on sexual harassment and MeToo matters. Meanwhile, Ceresney specializes in investigations and white-collar defense along with Bruce Yannett. Maeve O’Connor co-chairs the firm’s securities litigation group and is recognized for her experience this area. All named lawyers are based in New York.

Practice head(s):

Mary Beth Hogan; Andrew Ceresney

Other key lawyers:

Bruce Yannett; Maeve O’Connor

Key clients




Goldman Sachs & Co.



Paypal Holdings

Prudential Financial

Ripple Labs

Robinhood Financial

Symetra Life Ins. Co. and Symetra Assigned Benefits Service Co.


United Property & Casualty Insurance Co.

Vanguard Group

Gibson, Dunn & Crutcher LLP

Led by Stephanie Brooker and Kendall Day, Gibson, Dunn & Crutcher LLP’s financial institutions practice consists primarily of former federal prosecutors and regulatory agency staff, resulting in a stand-out capacity to defend enforcement actions as well as regulatory compliance investigations, particularly those relating to the application of the FCPA and the AMLA. Notably, the firm is representing Binance, a major crypto exchange, in multiple investigations by regulatory bodies including the DOJ, SEC, CFTC and FinCEN, as well as corresponding international regulatory inquiries. This signals the firm’s wider expansion into the fintech sector, advising both financial and non-financial institutions on matters relating to digital assets and fintech services. Arthur Long departed the firm in August 2022 along with Matthew Biben. Richard Grime is a key name to note for his securities enforcement and litigation experience and Jeffrey Steiner is focused on digital assets, blockchain technology, derivatives, and international financial regulation. All lawyers mentioned are in Washington DC.

Practice head(s):

Stephanie Brooker; Kendall Day

Other key lawyers:

Richard Grime; Jeffrey Steiner

Key clients

Citizens Bank, N.A.

Wealthfront Inc.

Binance Holdings Limited


Motive Capital

Allianz Supervisory Board

Mashreq Bank



Goodwin has a well-regarded consumer financial services practice with Allison Schoenthal and Matthew Sheldon, based in New York and Washington DC respectively, leading the practice. The firm is experienced in consumer and non-consumer class actions and other litigation involving financial institutions, with a particular concentration on the CFPB, securities class actions, market manipulation and underwriting syndicate representation. Schoenthal is recognized for her expertise in this consumer finance, representing banks, trusts, lenders, and private equity firms in litigation and enforcement matters against claims under RESPA, TILA, FDCPA, TCPA and UDAAP. Likewise, Sheldon regularly counsels banks, mortgage lenders and fintech companies on regulatory and enforcement matters before agencies including the CFPB, HUD, FDIC, as well as litigation relating to, among others, fair lending compliance, financial product sales and marketing practices. Thomas Hefferon is consistently recognized as a leading consumer financial services practitioner, acting in class actions, MDLs, and defense of enforcement actions before both agencies and courts.

Practice head(s):

Allison Schoenthal; Matthew Sheldon

Other key lawyers:

Thomas Hefferon


‘The greatest strengths of this team are communication and expertise. Even when faced with a novel issue I am impressed with the team’s responsiveness and taking the time to walk the client through the process of reaching resolution – so we may plan for every step along the way. They have shown innovation in collaboration using technology and empathy in keeping us in touch in an ever more remote world.’

‘Allison Schoenthal is one of the best litigators and thought leaders I have encountered in this or any area, but surely consumer finance and the regulatory regime is where she is the absolute best.’

Key clients

Bank of America

Wells Fargo

Rocket Mortgage (fka Quicken Loans)

Fifth Third Bank


Ocwen Financial Corporation

Select Portfolio Servicing

Synergy One Lending

CIT Bank

Daily Pay

Work highlights

  • Handling portfolio-wide risk assessments and strategy for Wells Fargo’s multi-million dollar distressed loan portfolio, in addition to handling cases through the appellate courts.
  • Represented Ocwen Financial Corporation, a large mortgage loan account servicing company, in defending litigation filed by the Consumer Financial Protection Bureau (CFPB), a tag-along action filed by the Florida Attorney General, and related actions brought by the Massachusetts Attorney General and several state consumer regulatory agencies.

Kirkland & Ellis LLP

Kirkland & Ellis LLP concentrates its financial services disputes practice on securities class actions, shareholder derivatives, M&A and structured finance litigation as well as regulatory investigations by the DOJ, SEC and CFTC. The firm also has a recognized accountant liability practice, defending major clients in this space. The firm broadly focuses on securities law and private litigation alleging misleading shareholders, insider trading and other types of financial fraud, as well as developing its concentration in the fintech sector. Sandra Goldstein has a range of litigation experience relating to securities, M&A and commercial disputes for large companies. Goldstein also works alongside Zachary Brez, former SEC attorney, who concentrates on securities and exposures under the FCPA. Both are based in New York. Mark Filip, former federal judge, and Reginald Brown are key contacts in the firm’s government regulatory enforcement defense and investigations group. Filip is based across the firm’s Chicago and Washington DC offices, while Brown is in DC.

Other key lawyers:

Sandra Goldstein; Zachary Brez; Reginald Brown; Mark Filip

Key clients


Credit Suisse

FirstFire Global Opportunities Fund LLC

OpenDoor Labs, Inc.

Ovation Partners

Owl Rock Capital Group

Stable Road Capital

Morgan, Lewis & Bockius LLP

The financial services team at Morgan, Lewis & Bockius LLP is regarded for its class action defense practice, frequently representing major banks in a range of matters including consumer credit cards, mortgages, and consumer lending under a variety of statutory consumer protections such as FCRA, TCPA, SCRA and EFTA. In addition to its consumer class action defense, the firm is also active in a range of regulatory consumer protection inquiries and investigations by bodies including the FTC, CFPB and OCC. The practice is co-headed by New York-based Michael Kraut and Susan DiCicco. Kraut is experienced defending banks and other financial institutions in securities and class action litigation. Boston’s Elaine McChesney focuses on consumer class actions, credit card disputes, fiduciary services and unfair or deceptive practices, and has achieved several dismissals for clients in these areas. Kenneth Kliebard, operating out of Chicago, is an experienced consumer protection litigator who concentrates on class actions and regulatory investigations.

Practice head(s):

Michael Kraut; Susan DiCicco

Other key lawyers:

Elaine McChesney; Kenneth Kliebard

Paul Hastings LLP

Paul Hastings LLP’s litigation practice handles a wide range of financial services matters, leveraging its network of national offices to advise major financial institutions including banks, credit unions, fintechs, and mortgage lenders in claims spanning the country. The firm has particular experience of class actions in lending and consumer finance matters, as well as having a strong regulatory investigations capacity. Barry Sher  in New York chairs the practice and has experience in SSA bonds class actions as well as market manipulation cases in relation to bonds. The firm has also expanded its consumer financial services practice, gaining several partners in June 2022 from Orrick, Herrington & Sutcliffe LLP including Jonice Gray Tucker, Kari Hall, Aaron Mahler and Matthew Previn. Allyson Baker is also key name to note for the firm’s consumer finance regulatory capacity as a former enforcement attorney at the CFPB, renowned for her representation of consumer finance companies in investigations by the agency as well as the DOJ and FTC. Another significant player is Meredith Boylan, former assistant district attorney in Manhattan, who focuses her practice on federal and state regulatory agency investigations.

Practice head(s):

Barry Sher

Other key lawyers:

Jonice Tucker; Kari Hall; Aaron Mahler; Matthew Previn; Allyson Baker; Meredith Boylan


‘The Paul Hastings litigators have a huge amount of experience in financial services litigation, so they have seen everything before and know how to react. They are very creative in their defense tactics.’

‘Barry Sher is as good a lawyer as there is. He is smart, has great common sense, is totally committed to getting the best possible results for his clients, and is very easy to work with.’

Key clients

Barclays Bank PLC, Barclays Capital Inc., Barclays Services Limited, Barclays Capital Securities Ltd.

BDO Capital & Investment Corporation

BofA Securities, Inc.

Citigroup Global Markets Inc.

Credit Suisse

DBS Bank Ltd.

Goldman Sachs

GE Asset Management

A Former supervisor of the Money Market Desk at Deutsche Bank

Morgan Stanley & Co. International PLC


Royal Bank of Canada

Steward Partners

Trident Mortgage Company; HomeServices of America Inc.

Transworld Systems Inc.

Harris Originals

Work highlights

  • Represented Trident Mortgage Company, affiliated real estate brokerage, and parent company in investigations by the CFPB and DOJ and Attorneys General of Pennsylvania, New Jersey, and Delaware, alleging that Trident engaged in illegal redlining.
  • Acting as co-lead counsel, on behalf of Transworld Systems Inc., an intervenor in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, et al., a case concerning novel statutory arguments concerning the definition of “covered person,” under the Consumer Financial Protection Act (CFPA), the CFPB’s enabling statute.

Skadden, Arps, Slate, Meagher & Flom LLP

Based in Washington DC, the financial services group at Skadden, Arps, Slate, Meagher & Flom LLP concentrates on consumer-related finance disputes and represents a range of financial institutions in regulatory enforcement as well as compliance and risk management issues. The firm has been active in the development of compliance management programs under both federal and state level consumer protection statutes and has regularly advised clients in connection with regulatory enforcements carried out by the DOJ and the CFPB. Anand Raman heads the practice and has represented clients facing class actions, including Capital One facing allegations of redlining, as well as aiding several clients facing regulatory inquiries and litigation surrounding their consumer finance practices. Kathleen Shelton has experience in defending consumer financial services matters and has expertise in allegations of unfair, deceptive or abusive practices. Darren Welch and Joseph Barloon are also experienced litigators within the team. All named lawyers are based in DC.

Practice head(s):

Anand Raman

Other key lawyers:

Kathleen Shelton; Darren Welch; Joseph Barloon

Ballard Spahr LLP

Concentrating on consumer financial services and products, Ballard Spahr LLP has experience representing clients facing CFPB and other regulatory enforcement, as well as advising financial institutions on regulatory due diligence involving consumer finance service companies. The firm also has a focus on payment systems in the fintech sphere. Leading the consumer financial services practice are Daniel McKenna, John Socknat and Joel Tasca. McKenna, based in Philadelphia, is active in class actions, particularly under the Telephone Consumer Protection Act, as well as individual litigation regarding consumer finance products on behalf of banks, non-bank lenders, mortgage providers and third-party service providers. Socknat and Tasca are based in Washington DC and Las Vegas respectively. Thomas Burke, in Philadelphia, is another key name to note within the firm for investigations and enforcements by regulatory bodies.

Practice head(s):

Daniel McKenna; John Socknat; Joel Tasca

Other key lawyers:

Thomas Burke

Key clients

Capital One


Snap Finance

Pennsylvania Higher Education Assistance Agency (PHEAA, or FedLoan)

Progressive Finance

Discover Financial Services

Wells Fargo Bank, N.A.


Colgate-Palmolive Company

Community Loans of America, Inc.

Metropolitan Commercial Bank

Bryan Cave Leighton Paisner

Bryan Cave Leighton Paisner HRO has a broad range of financial services disputes experience, and alongside acting for a variety of financial services providers, the firm is recognized for advising broker-dealers in claims of ‘selling away’, unauthorized trading and fraud allegations, and mortgage servicers in consumer class actions brought under the FDCPA and the UDAP. Eric Martin leads the US practice, based across St Louis and Los Angeles. Martin has broad expertise in the field including acting for broker-dealers in a range of matters including U-5 defamation, raiding, suitability and non-compete. Lindsay Wuller Aggarwal is also recognized for her experience advising broker-dealers in contentious matters, both litigations and arbitrations, alongside Jeff Ziesman and Jeff Kalinowski. Kalinowski is also regarded for his work in securities litigation. Unless otherwise stated, all lawyers are in St. Louis.

Practice head(s):

Eric Martin

Other key lawyers:

Lindsay Wuller Aggarwal; Jeff Ziesman; Jeff Kalinowski

Key clients

Bank of America

JPMorgan Chase Bank, N.A.

PHH Mortgage Corporation (formerly Ocwen Loan Servicing)

Santander Consumer USA, Inc.

Work highlights

  • Representing Bank of America in Larry Brown II v Bank of America NA et al, a mortgage mass class action claim.
  • Represented automobile financier Santander Consumer USA against allegations of charging illegally high interest rates, against section 5-2-201 of the Colorado Uniform Consumer Credit Code.
  • Representing Bank of America in two sets of California consumer Unfair or Deceptive Acts or Practices (UDAP) relating to alleged domestic and overseas fraud.

Cahill Gordon & Reindel LLP

Following a landmark victory for Credit Suisse in FX litigation, Cahill Gordon & Reindel LLP has consolidated its reputation for market manipulation and antitrust litigation. Led by Herbert Washer, the firm continues to be active in financial crisis-era losses litigation involving structured products and derivatives as well as class action lawsuits alleging Sherman Act violations, credit default and interest rate swaps. The firm also acts for several insurers in insurance and reinsurance claims and acts for underwriters of Chinese companies in matters arising from cross-border listings, securities regulation and fraud prevention. David Januszewski is a key name to note at the firm, particularly for his experience in securities litigation, acting for Credit Suisse in cases such as class actions alleging market manipulation in FX, stock lending markets, and SSA bonds. Tammy Roy also has experience in securities litigation, in addition to her familiarity with internal investigations, compliance, regulatory and enforcement matters. Other key lawyers within the practice include Jason Hall, Edward Moss and Sheila Ramesh. All named individuals are based in New York.

Practice head(s):

Herbert Washer

Other key lawyers:

David Janueszewski; Tammy Roy; Jason Hall; Edward Moss; Sheila Ramesh


‘Extremely intelligent, extremely experienced team, especially David Januzewski.’

Key clients

Credit Suisse

S&P Global Inc.

Deutsche Bank


Work highlights

  • Represented Credit Suisse and its subsidiaries in all U.S. litigation relating to alleged manipulation of the global foreign exchange (FX) markets.
  • Representing Credit Suisse in defeating a purported class action brought by plaintiffs alleging that Credit Suisse and other banks violated the antitrust laws by colluding to manipulate U.S. Treasury auctions and the pricing of Treasury securities in the when-issued market, and that the banks and certain trading platforms engaged in a group boycott to prevent exchange-style trading of Treasury securities in the secondary market.
  • Representing Credit Suisse in connection with all U.S. litigation relating to the allegations that defendants, including Credit Suisse and other major investment banks, conspired to fix the prices of U.S. dollar-denominated supranational, sovereign, and agency bonds sold to and purchased from investors in the secondary market.

Holwell Shuster & Goldberg LLP

Holwell Shuster & Goldberg LLP is a recognized litigation boutique, with areas of focus including antitrust matters, such as advising Visa in relation to actions challenging network rules, securities litigation, and representing insurance companies in a range of coverage disputes involving novel theories. The practice is led by founding partners Richard Holwell, former federal judge in the Southern District of New York, Michael Shuster and Daniel Goldberg. Dorit Ungar Black, another co-founder of the firm, is a key contact with experience in ‘cost of insurance’ litigation, RMBS matters and currently advises several high-profile clients in allegations of improper insurance premiums on universal life policies. All named lawyers are based in New York.

Practice head(s):

Richard Holwell; Michael Shuster; Daniel Goldberg

Other key lawyers:

Dorit Ungbar Black; Daniel Sullivan; Scott Danner; Priyanka Timblo


‘Unique firm fully dedicated to Plaintiff litigation — as it was our case. Deep minds, young blood, at the same time balanced with the experience of former US Supreme Court clerks or NY Courts. Great team.’

‘Daniel Sullivan and Scott Danner are bright, incisive, deep, and relentless.’

‘Amazing talent and client service. Healthy risk appetite. Polished.’

Key clients

Visa Inc.

Valassis, a MacAndrews & Forbes company


Keiko Ono Aoki

TIG Insurance Co.


Sealed Air

Aenergy S.A.

Alberta Investment Management Corporation (AIMCo)

Federal Home Loan Mortgage Corporation (Freddie Mac)

Work highlights

  • Representing Visa in dozens of antitrust actions challenging network rules benefitting all domestic cardholders with billions of dollars in damages at stake.
  • Representing Chubb in its docket of opioid coverage cases with billions of dollars at stake across the cases and parties.
  • Representing Aenergy S.A. in multiple proceedings related to the termination of 13 energy contracts worth $1.1bn that Aenergy held with Angola.

Jones Day

Jones Day’s financial markets practice offers great experience from regulatory bodies and prosecutors’ offices, and is focused on financial institutions disputes and investigations, with specific emphasis on structured finance products. The practice is co-led by Jayant Tambe and Brett Barragate – Tambe is well-regarded for his wealth of experience advising financial institutions on litigation regarding securities, derivatives, credit default swaps, and collateralized debt obligations (CDOs), as well as his capacity to handle international discovery and judgement enforcement. Nina Yadava is another recognized lawyer for her experience defending public companies and their officers and directors in shareholder litigation as well as financial institutions in contractual disputes regarding structured products. Howard Sidman and Michael Conway are well-regarded for their experience advising clients on issues relating to RMBS, and associate Amanda Dollinger  shares this focus on structured product disputes, specifically relating to RMBS, CDOs. All named lawyers are based in New York.

Practice head(s):

Jayant Tambe; Brett Barragate

Other key lawyers:

Nina Yadava; Michael Conway; Howard Sidman; Amanda Dollinger

Key clients

Wells Fargo

BNP Paribas

J.P. Morgan

Deutsche Bank


Katten is regularly engaged by clients including banks, credit unions and consumer lenders to advise on consumer finance class actions as well as being active in defending regulatory proceedings. The practice is led by Gregory Korman, who focuses on banking and credit union clients in class actions relating to financial products such as credit cards and mortgages. Stuart Richter is another key contact in consumer finance related litigation including class actions and regulatory enforcement proceedings. Both Richter and Korman are based in the Los Angeles office, along with Tami Kameda Sims, who also has experience representing banks and credit unions in class actions, breach of contract cases, and regulatory actions.

Practice head(s):

Gregory Korman

Other key lawyers:

Stuart Richter; Tami Kameda Sims

Key clients

1st Source Bank

Addition Financial

Alaska USA Federal Credit Union

Alliant Federal Credit Union

Bank of Hawaii


Bethpage Federal Credit Union

City National Bank

Community Bank

Ent Federal Credit Union

First Interstate Bank

Frontwave Credit Union


Redstone Federal Credit Union

Republic Bank

Valley National Bank

Work highlights

  • Represented HSBC’s Hong Kong and US businesses in class actions in federal court in California and New York alleging the banks aided and abetted Ponzi schemes.
  • Advising several banks and credit unions on class action cases filed in Alabama, California, Florida, New York, Montana, Oklahoma, Texas, and Florida alleging the financial institutions improperly assessed overdraft fees on debit card payments that were authorized when there was sufficient account balance but later, when they were paid, there was insufficient account balance.
  • Representing Alaska USA in a class action in Alaska state court and another in the Western District of Washington claiming the client’s long-standing practice of purchasing retail installment sales contracts from automobile dealers nationwide violated the Alaska Unfair Trade Practices Act and the Washington Consumer Protection Act.

Morrison Foerster

Concentrating on consumer litigation in the financial services industry, Morrison Foerster regularly represents banking clients in matters involving checking accounts, credit cards, mortgage transactions and consumer loans. The financial services litigation team is integrated with the class actions and mass torts practice to offer a cross-practice resource for clients. Key work for the firm includes consumer class actions and related regulatory proceedings, as well as unfair competition, false advertising and deceptive trading practices claims. The team is led by David Fioccola, serving as the co-chair of the class actions and mass torts practice group. Other key lawyers in the team include Grant Esposito, commercial litigation practitioner, Michael Miller, who specializes in antitrust matters, and Nancy Thomas, consumer class action and regulatory enforcement lawyer based in Los Angeles. Lawyers are in New York unless otherwise stated.

Practice head(s):

David Fioccola

Other key lawyers:

Grant Esposito; Michael Miller; Nancy Thomas

Key clients

Elevate Credit Inc. and Wheels Financial Group LLC


Work highlights

  • Representing small-dollar lenders in actions challenging interest rates as unconscionable per the California Supreme Court’s ruling in De La Torre v. CashCall.
  • Representing Vonage and asserting counterclaims in litigation brought by a former channel partner who alleges that Vonage breached their agreement by, among other things, wrongfully clawing back commission payments, failing to adequately support the partner, and wrongfully terminating the agreement.

Orrick, Herrington & Sutcliffe LLP

Following its merger, the team at Orrick, Herrington & Sutcliffe LLP (formerly known as Buckley LLP) represents clients on supervisory matters relating to consumer finance including mortgage lending, military and student lending services and other consumer finance products, focusing on increasing CFPB and FTC enforcements and investigations, as well as operating a consumer class action defense practice for financial institutions. The firm’s consumer finance practice is co-led by Amanda Lawrence, James McGuire and Fredrick Levin. John Coleman is a key name in supervisory and enforcement matters by regulatory bodies. McGuire and Levin, both based on the West Coast in San Francisco and Los Angeles respectively, focus on consumer class action defense for banks and financial services companies. Lawrence and Coleman operate out of the Washington DC office. Former managing partner Benjamin Klubes, and Jonice Gray Tucker both recently departed the firm.

Practice head(s):

Amanda Lawrence; James McGuire; Fredrick Levin

Other key lawyers:

John Coleman; Ali Abugheid


‘The strength of Orrick is simple. It is all with their people. They are highly knowledgeable about the consumer finance industry and are ultra responsive. Furthermore, they know how and when to be aggressive to obtain the best results for their clients.’

‘Fredrick Levin and Ali Abugheida are incredible advisors and litigators. We know that they are always there and ready to act whether it be counsel or filing the appropriate action.’

Key clients

General Motors Financial Corporation

Cadence Bank, N.A.

Opportunity Financial, LLC

Ygrene Energy Fund, Inc.

Renew Financial Group, LLC.

Carrington Mortgage Services, LLC

PNC Bank, National Association

Capital One

US Bank

Union Bank

Gate City Bank

Work highlights

  • Advising Ygrene Energy Fund, Inc. and Renew Financial Group, LLC. in cases in which the Plaintiffs are attempting to re-characterize PACE obligations as loans or retail installment contracts subject to additional consumer protection laws that would not otherwise apply, potentially affecting thousands of existing transactions as well as future PACE originations in California.
  • Defending Union Bank and U.S. Bank in putative class actions asserting challenges to several of its fee practices, initially prevailing on motions to compel arbitration and subsequently litigating novel questions that have arisen from the California Supreme Court’s decision in McGill v. Citibank.
  • Represented automobile finance company GM Financial in a substantial multi-year consumer protection investigation by the Massachusetts Attorney General’s Office.

Schulte Roth & Zabel LLP

Drawing expertise from a number of groups, Schulte Roth & Zabel LLP concentrates its efforts towards regulatory investigations and enforcements by government bodies, specifically the SEC. The firm has expanded its crypto funds capacity and recently represented Pantera Capital in a high-stakes dispute with Polychain regarding the application of the corporate opportunity doctrine in the investment fund space. The firm also has a broad focus on investment funds and broker dealer work, including activity such as cryptocurrency investments, insider trading, SPACs and block trading. The team’s cross-practice leadership is comprised of Craig Warkol, co-chair of the securities enforcement and broker dealer regulatory and enforcement groups and Julian Rainero, also co-chair of the latter, in New York, as well as Peter White, co-chair of the litigation and white-collar defense groups and Charles Clark, co-chair of the securities enforcement group, based in Washington DC.

Practice head(s):

Craig Warkol; Peter White; Charles Clark; Julian Rainero

Key clients

AB CarVal Investors LP

Anchorage Capital Group, L.L.C.

Bayview Asset Management, LLC

Brookfield Investment Management Inc.

Cerberus Capital Management, L.P.

Engine No. 1

Industrial and Commercial Bank of China (ICBC)

Interactive Brokers LLC

Murchinson Ltd

Olympus Peak Asset Management LP

Pantera Capital

Point72 Partners

Portfolio Advisors

Tiger Global Management, LLC

Tudor Investment Corporation

Williams & Connolly LLP

Specialist litigator firm, Williams & Connolly LLP has experience advising clients such as banks and trade associations, in a wide range of contentious financial services matters, particularly when facing regulatory and federal banking agencies. The team is co-chaired by John Villa and Dane Butswinkas. Villa represents numerous financial institutions as well as officers and directors in sensitive investigations and litigation. Butswinkas focuses his practice on securities litigation, deceptive trading practices and grand jury investigations. Enu Mainigi leads the defense for numerous banking institutions including representing Bank of America against Ambac in residual financial crisis litigation. Ryan Scarborough, another key name to note, handles multiple enforcement investigations and actions pursued by banking regulators. All named lawyers are based in Washington DC.

Practice head(s):

Dane Butswinkas; John Villa

Other key lawyers:

Enu Mainigi; Ryan Scarborough; Chris Manning; Melissa Collins


‘Very partner heavy. No wasted time. A high level of advice and legal work. They get to answers and solutions better than any major firm.’

‘Very talented professionals that directly address the issues. Stars: Dan Butswinkas, Chris Manning, and Melissa Collins.’

‘Ryan Scarborough is an excellent litigator.’

Key clients

Fifth Third Bank

Custodia Bank

UBS Financial Services

Dubuque Bank & Trust and Wisconsin Bank & Trust (Heartland Financial subsidiaries)

Bank of America


Work highlights

  • Representing Fifth Third Bank in litigation brought by the CFPB alleging unfair and abusive acts and practices in connection with allegedly unauthorized account openings.
  • Representing Custodia Bank as lead counsel in an action filed in Wyoming federal court against the Federal Reserve Board of Governors and the Federal Reserve Bank of Kansas City, accusing the central bank and the Kansas City Fed of illegally slow-walking Custodia’s master account application for access to critical payment service.
  • Acting as lead trial counsel for Bank of America’s Countrywide subsidiary against claims of fraud and breach of contract in connection with 30 mortgage-backed securitizations insured by Ambac Assurance Corporation, one of the few remaining mortgage cases following the financial crisis.


WilmerHale has represented several financial institutions, banks and credit card issuers, finance companies and lenders on a range of issues particularly concerning consumer credit regulation and protection. The firm focuses on defending clients against consumer class actions at both state and federal levels and has been involved in cases related to product offerings, withdrawal fees and the Truth in Lending Act. The firm also has experience in regulatory investigations and enforcement proceedings regarding consumer financial protection laws. Franca Harris Gutierrez in Washington DC heads the financial institutions practice, and Noah Levine, based in New York, is a key contact for his defense of consumer class actions under federal banking statues and appellate litigation.

Practice head(s):

Franca Harris Gutierrez

Other key lawyers:

Noah Levine

Key clients

TD Bank, N.A.

TD Bank Group

JP Morgan Chase & Co.

Fannie Mae

Work highlights

  • Represented TD Bank, N.A. in a class action in the District of New Jersey regarding its secured credit card product offering, the TD Secured Cash Card, in which the plaintiff filed suit on behalf of herself and a putative class of other cardholders after failing to graduate from the secured card to a TD unsecured card.
  • Represented TD Bank Group in a putative class action over fees charged for out of network ATM fees, particularly fees for balance inquiries.
  • Representing JP Morgan in a consumer class action brought under the Truth in Lending Act, claiming that JPMorgan Chase did not send a notice of renewal of complainant’s credit card account that complied with the Act because, he alleges, it failed to itemize his upcoming annual fee.