Allen Denson

Allen has represented a variety of financial services providers and fintech companies facing scrutiny from regulators such as the OCC, Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC),  Federal Deposit Insurance Corporation (FDIC), state financial services regulators, and state attorneys general. He also counsels clients that are developing new products or investing in new ventures, advising them on compliance and regulatory risk.

He began his legal career as a law clerk for Judge Virginia Emerson Hopkins of the US District Court for the Northern District of Alabama. He then spent several years as a senior attorney at the OCC’s Enforcement & Compliance Division before moving into private practice, where he has excelled at solving his clients’ most complex regulatory problems.

With insights and experience gained working as an enforcement attorney and a private practice lawyer, Allen has the unique ability to see issues and their solutions in their fullest sense. As a former senior attorney at the OCC, he developed a boots-on-the-ground understanding of how government officials think when pursuing enforcement issues. And as a private practice lawyer he utilized the experience he gained from being on the other side of table to craft winning strategies for his clients. General counsel, owners, and chief executives for financial services providers turn to Allen when they must defend themselves against government overreach. Allen is a frequent advocate before federal and state government regulatory bodies and is known for his practical but hard-driving approach. Clients regularly report how much they appreciate working with Allen based on his passion for finding a way to get the win, and they value how he is unafraid to push the envelope with regulators and get creative to find a solution.

He speaks on industry issues across the nation and is a frequent source for media outlets such as American Banker, Reuters, and Law360. 

Disputes

• Lead counsel in CFPB investigation and enforcement action involving consumer lender alleged to have violated the Military Lending Act
• Lead counsel in CFPB investigation of consumer lender involving alleged unfair, deceptive, or abusive acts or practices in connection with its collection practices
• Lead counsel in OCC investigation and enforcement action involving fintech-oriented bank’s consumer protection and anti-money laundering controls
• Lead counsel in FDIC investigation and enforcement action involving fintech-oriented bank alleged to have violated Regulation E and engaged in unfair, deceptive, or abusive practices in connection with its prepaid card program
• Lead counsel in FDIC investigation and enforcement action involving alleged violations of the Bank Secrecy Act by fintech-oriented bank
• Lead counsel in FTC investigation and enforcement action involving online advertiser alleged to have engaged in deceptive practices 
• Lead counsel in FTC investigation of fintech company in connection with its sales practices and compliance with the Telemarketing Sales Rule
• Lead counsel in parallel investigations brought by CFPB and state attorney general into fintech company’s compliance with the Telemarketing Sales Rule and state law
• Lead counsel in state attorney general investigation of national auto finance company’s leasing practices
• Lead counsel in investigation of fintech lender by state attorney general into alleged unlicensed lending
• Lead counsel in investigation by state Office of Financial Regulation into buy-now, pay-later company’s lending practices  
• Lead counsel in state attorney general investigation into rent-to-own company’s compliance with state law
• Lead counsel in state attorney general investigation of fintech lender’s compliance with state usury laws and interest-rate caps
• Lead counsel in state attorney general investigation into alleged unlicensed lending by fintech company

Counseling

• Advise established banks, fintech companies, mortgage lenders, and creditors with compliance obligations under federal consumer financial laws, including the Consumer Financial Protection Act, Federal Trade Commission Act, Equal Credit Opportunity Act, Truth in Lending Act, and Electronic Funds Transfer Act
• Developed product structure and compliance framework for fintech companies providing financial products and services, including Earned Wage Access, buy now pay later, open-end credit, prepaid cards, mortgage lending, installment lending, merchant cash advance, and small business lending
• Advised numerous fintech companies in establishing relationships with partner banks
• Advised numerous fintech-oriented banks with selection and onboarding of fintech companies to provide innovative financial products and services
• Advised numerous lenders and providers of credit facilities in securitizations of credit obligations