John P. Kromer

Biography

John Kromer, Co-Managing Partner of BuckleySandler LLP, assists mortgage companies, consumer finance companies, real estate companies, commercial lenders and other financial institutions with navigating federal and state regulatory and compliance rules and requirements. He counsels clients on laws governing licensing, usury, advertising, disclosures, privacy, lending and servicing practices, and laws prohibiting unfair, deceptive and abusive acts and practices. In addition, he represents clients on pending federal and state legislative matters that affect the financial services industry.

Mr. Kromer also advises financial services firms on new product and business line development, such as structuring and negotiating business relationships, including joint ventures and outsourcing arrangements. He also advises financial and strategic purchasers of financial services firms and assets on regulatory matters, including due diligence of companies, assets and portfolios, and transactional structuring in light of federal and state licensing and regulatory requirements.

Mr. Kromer is the past Chair of the Housing Finance Subcommittee of the Consumer Financial Services Committee of the Business Law Section of the American Bar Association and serves on the Advisory Council of the American Association of Residential Mortgage Regulators.

Mr. Kromer is recognized by Chambers USA as a leading attorney in the field of Consumer Finance Compliance. He is a frequent panelist at industry conferences discussing legal issues affecting mortgage companies and consumer lenders. He is a co-author of Residential Mortgage Lending: State Regulation Manual; Residential Mortgage Lending: Brokers; Pratt’s State Regulation of Second Mortgages and Home Equity Loans; Mortgage Bankers Guide to Regulatory Compliance; and The Law of Electronic Signatures and Records, and has written numerous articles for consumer financial services industry publications.

Significant Representations

• Auto Lending 50-State Survey

  Prepared comprehensive 50-state survey of state laws governing direct and indirect automobile lending activities of national banks for a consortium of large national banks.

• Auto Lending 50-State Survey and Gap Analysis

  Performed a preemption review and 50-state state law gap analysis of state laws governing direct auto lending activities of a federal thrift in light of changes to federal preemption under the Dodd-Fr... MORE

Publications

• The Law of Electronic Signatures and Records, 2012-2013 Edition

  Westlaw, December 7, 2012

• Minifinance: CFPB Supervision of Short-Term, Small-Dollar Financial Products and Services

  LexisNexis Banking & Finance, April 25, 2012

• 10 Steps Your Company Should Take When Responding to a Subpoena

  Bloomberg Law Reports: Banking & Finance, August 1, 2011

• OCC Issues Proposed Rule to Implement Dodd-Frank Preemption

  Consumer Financial Services Law Report, June 22, 2011

• OCC Issues First Interpretation of Dodd-Frank Preemption Provisions, But Questions Remain

  Consumer Financial Services Law Report, June 8, 2011

• The SAFE Act's Unlevel Playing Field

  Mortgage Banking Magazine, July 1, 2010

In The News

• BuckleySandler Noted as "One of the Most Enterprising Firm in the Financial Services Sector" by Chambers USA

  May 31, 2013

• BuckleySandler Noted for Its Impressive Enforcement & Litigation Talent by Chambers USA

  June 8, 2012

Speaking Engagements & Events

• The New Uniform State Test for Mortgage Loan Originators

  March 15, 2013

• 2011 Fair Lending Today Conference

  May 2, 2011

• AARMR 21st Annual Regulatory Conference

  August 11, 2010

• American Bar Association’s Annual Meeting 2010

  August 7, 2010

• ABA Business Law Section - Spring Meeting 2010

  April 24, 2010

• 2010 Fair Lending Today Conference

  April 19, 2010

• Federal Registration of Mortgage Loan Originators and NMLS: Initial Thoughts and Open Issues

  February 10, 2010

• ABA Consumer Financial Services 2010 Winter Meeting

  January 16, 2010

Awards & Recognition

• Chambers USA 2012-2013, Band 3, Financial Services Regulation: Consumer Finance (Compliance)
• American Association of Residential Mortgage Regulators, 2003: Distinguished Service Award