Benjamin P. Saul

Biography

Benjamin P. Saul, a Partner at BuckleySandler LLP, has a nationwide practice representing corporate and individual clients in high-stakes administrative enforcement and criminal matters, private civil and class action litigation, and parallel proceedings involving private litigants and federal and state enforcement authorities. He also conducts corporate internal investigations and advises financial services and other clients on compliance issues and programs. He has represented clients in matters initiated by the Congress, DOJ, CFPB, HUD, FTC, SEC, federal and state banking authorities, and state attorneys general.

Mr. Saul's matters have concerned a broad range of consumer finance issues, including lending, servicing, and securitization practices as well as credit reporting, consumer privacy, and data security. He also has advised clients on white collar criminal matters, including money laundering and mortgage fraud, as well as securities, corporate fiduciary duty, and other business litigation matters. Mr. Saul has extensive experience counseling troubled banks, bank holding companies, and their boards of directors and officers on complex regulatory, litigation, enforcement and personal liability issues. In addition, he has special expertise counseling private student lenders and servicers on a range of regulatory, enforcement, and litigation matters.

Mr. Saul is a member of the Board of Editors of the Review of Banking & Financial Services. He also is active in the Litigation and Business Law sections of the American Bar Association, and is currently Co-Chair of the Consumer Litigation Committee. Mr. Saul speaks and publishes regularly on various topics of interest to financial institutions and other financial services companies.

Prior to joining BuckleySandler LLP at its inception in 2009, Mr. Saul was a financial services and business litigator at Skadden, Arps, Slate, Meagher & Flom LLP. He has also served as a law clerk to the Honorable John M. Steadman (Court of Appeals, District of Columbia), and worked as an Economic Analyst at the investment firm Loomis, Sayles & Company.

Mr. Saul received his J.D. from American University (magna cum laude), where he was a Karl Scholar, Mussey-Gillett Fellow, Editor of American University Law Review and President of the Moot Court Board. He received his B.A. from the University of Pennsylvania (with Honors).

Significant Representations

CFPB Ancillary Products Examination
Representing top ten bank in CFPB examination of ancillary credit card products.
CFPB Manufactured Housing Finance Investigation
Representing finance company affiliated with manufactured housing provider in a CFPB investigation of origination, servicing, and collection practices.
CFPB Student Lending Examinations
Representing private student lenders in CFPB student lending as well as fair lending examinations.
CFPB Student Lending Investigation
Assisting bank in responding to a CFPB investigation regarding student lending related to for-profit educational institutions.
Compliance and Strategic Advice
Counseling private student lenders on new programs, underwriting and product criteria as well as e-sign issues.
DOJ Fair Lending Investigation
Represented a student lender in a fair lending investigation by its bank regulator and the U.S. Department of Justice, succeeding in getting the Department to close its investigation without further a... MORE
DOJ SCRA Investigation
Ongoing representation of student lender in a DOJ investigation into that lender’s compliance with the SCRA.
Fair Lending Examination and Investigation
Represented bank in connection with fair lending regulatory examination of certain mortgage underwriting practices. Matter resolved without referral or other action.
Fair Lending Examination and Investigation
Represented bank in connection with fair lending regulatory examination and related U.S. Department of Justice investigation concerning certain discretionary pricing practices. Matter resolved with no... MORE
Fair Lending Examination and Investigation
Represented bank in connection with fair lending regulatory examination and related U.S. Department of Justice investigation concerning discretionary mortgage pricing practices. Matter resolved with n... MORE
Fair Lending Examination and Investigation
Represented bank in connection with fair lending regulatory examination of certain mortgage underwriting practices. Matter resolved without referral or other action.
Fair Lending Risk Assessments
Represented several clients in conducting enterprise-wide fair and responsible banking risk assessments.
Federal Trade Commission v. EMC Mortgage Corporation and The Bear Stearns Companies, LLC
Consent Decree resolution of lawsuit alleging unfair and deceptive trade practices as well as violations of the Fair Debt Collection Practices Act, Fair Credit Reporting Act, and Truth in Lending Act ... MORE
Graley v. EMC Mortgage Corporation
Statewide class action alleging unfair and deceptive mortgage servicing and collection practices.
Independent Foreclosure Review
Provide rebuttal counsel and strategic legal advice in connection with top 10 bank’s efforts to comply with mortgage foreclosure-related consent orders.
Illinois AG Investigation Alleging Unfair and Deceptive Servicing Practices
Represented major mortgage servicer in investigation initiated by the Illinois Attorney General alleging unfair and deceptive servicing practices.
In re IndyMac Bancorp, Inc. Bankruptcy Trustee
Ongoing representation of Chapter 7 Trustee, including (i) conducting a full investigation of the financial affairs and collapse of Bancorp; (ii) defending Bancorp in government enforcement and litiga... MORE
In re TierOne Corporation Bankruptcy Trustee
Ongoing representation of Chapter 7 Trustee in bankruptcy matter, including investigating and collecting TierOne Corporation's property and assets. Notably, on behalf of the Trustee, the firm ne... MORE
In re United Western Bancorp, Inc.
Ongoing representation of debtor-in-possession as special counsel for several litigation and regulatory matters.
N.A.A.C.P. v. Ameriquest Mortgage Company, et al.
Nationwide class action lawsuit brought against 18 bank and non-bank lenders alleging “reverse redlining” violations of the Fair Housing Act, Equal Credit Opportunity Act, and the Civil Ri... MORE
SCRA Advice
Advised numerous student lenders on developing and implementing policies and procedures addressing SCRA risks at the federal level and related state laws.
SEC and NY AG Investigations
Representation of two former NYSE directors in parallel SEC and NY AG investigations regarding an executive compensation issue; neither agency acted against either client.
SEC Inquiry of U.K. Publisher
Representation of top U.K. publisher in SEC inquiry; no action taken.
United States of America v. Amsouth Bancorporation, et al.
Deferred prosecution agreement involving a one count information alleging failure to file suspicious activity reports in violation of the Bank Secrecy Act.
United Western Bank v. Office of the Comptroller of the Currency, et al.
On behalf of United Western Bank, filed suit against the OTS and FDIC claiming a wrongful seizure and appointment of a receiver. The lawsuit asserts the bank was, in fact, "economically viable" and th... MORE
Vendor Management Program Development
Provide legal advice to top 10 bank in connection with the development and implementation of bank’s enterprise-wide vendor management system.
Watson, et al. v. EquiCredit Corp., et al.
Settlement of both nationwide and statewide classes of borrowers in a matter involving allegations of fictitious payees at closings, fraud, and predatory lending in connection with real estate secured... MORE

Publications

Chapter 35A: Fair Lending Litigation
Litigation Services Handbook: The Role of the Financial Expert (5th Ed. Suppl.), May 3, 2013

Know the Standard of FDIC Liability for Community Banks
Law360, February 5, 2013

Why Fair and Responsible Banking Risk Assessments are Important for Non-Mortgage Business Lines
LexisNexis Emerging Issues, August 1, 2012

The Paper Chase: Effects of FDIC Documents Retention Policies on D&O Suits
Commerical Lending Litigation News, May 30, 2012

Prepare to Fight Suits Claiming Bias in REO Maintenance
American Banker, April 10, 2012

The Consumer Financial Protection Bureau's Whistleblower Program: How It Works and What It Means for Financial Services Companies
Bloomberg Law Reports: Banking & Finance, February 21, 2012

Fair Lending Class Actions Following Wal-Mart v. Dukes
Bloomberg Law Reports: Banking & Finance, November 30, 2011

First Do No Harm: An Analysis of the Broad Powers of the CFPB
Mortgage Banking, October 20, 2011

Heightened Standards: What Wal-Mart v. Dukes Means for Future Class-Action and Consumer Finance Litigation
Westlaw Journal Class Action, August 29, 2011

Benjamin P. Saul, Choice of Law & Constitutional and Evidentiary Issues, in Attorney-Client Privilege in the United States (West group 2011 ed.), available here.

DOJ Settlement with AIG Subsidiaries May Signal Expanded Lender Liability and Aggressive Enforcement of Fair Lending Laws
American Bar Association, February 1, 2011

Lower Standards Announced for Class Certification as a Massive Discrimination Suit Moves Forward
American Bar Association, February 1, 2011

Regulators Target Fair Servicing
Mortgage Banking, June 11, 2010

Mortgage Servicing Under Fire
The Review of Banking and Financial Services, June 1, 2010

Credit Cards and Payment Cards in Focus: Regulatory, Enforcement, and Litigation Risk Update
The Review of Banking and Financial Services, September 1, 2008

Nontraditional Mortgage Products: The New Enforcement, Regulatory, and Litigation Frontier
The Review of Banking and Financial Services, November 1, 2007

New Home Mortgage Disclosure Act Pricing Data: The Next Enforcement and Litigation Front for Lenders
The Review of Banking and Financial Services, June 1, 2005