Overview

Eric Mitzenmacher is an associate in Mayer Brown’s Washington DC office and a member of the firm's Financial Services Regulatory & Enforcement group. His practice involves providing regulatory compliance advice to companies that offer various consumer and small business financial products and services, as well as conducting regulatory due diligence reviews on behalf of investors in, and financing sources for, such companies. Eric’s experience spans the lifecycle of a typical financial services company, including initial program development, day-to-day compliance, due diligence in connection with transactions from financings and asset purchases to mergers and acquisitions, and government examinations and enforcement actions.

Eric has significant experience advising lenders, service providers, and investors on compliance obligations under federal and state law. His experience covers a range of products and program structures, including Fintech and marketplace lending programs, retail and home improvement financing, credit cards, student lending and education financing, general-purpose unsecured credit, and small business lending and alternative financing. He regularly provides guidance on federal consumer financial laws such as the Equal Credit Opportunity Act (ECOA), Fair Credit Reporting Act (FCRA), Gramm-Leach-Bliley Act (GLBA), Military Lending Act (MLA), Servicemembers Civil Relief Act (SCRA), Truth in Lending Act (TILA), and prohibitions on unfair, deceptive, and abusive acts and practices (UDAAP). He also advises companies regarding state law requirements, including licensing, usury and other restrictions on product terms, and disclosures, and the preemption of state requirements by federal banking and consumer financial laws.

Experience

Program Build-Outs and General Compliance
  • Advised marketplace lenders on program development and bank partnership design, including guidance on statutory and case law developments affecting the scope of preemption under federal banking laws.
  • Advised multiple point-of-sale retail financing programs operating under different business models—including direct lenders, sales finance companies, and marketplace lending platforms—on program development, product design, licensing, consumer-facing documentation, and policies and procedures.
  • Advised a home improvement lending platform operating under a bank partnership model on program development, compliance management, consumer-facing documentation and processes, and specific compliance policies and procedures.
  • Advised multiple consumer credit card companies on program development and day-to-day compliance, including development of cardholder agreements and disclosures, and compliance with requirements under federal consumer financial laws such as ECOA, EFTA, FCRA, MLA, SCRA and TILA.
  • Advised multiple companies on the development of mortgage alternatives for financing residential home purchases and improvements, including shared appreciation and equity-based products.

Transactional Due Diligence

  • Conducted regulatory due diligence reviews of marketplace lenders operating under bank partnership models in connection with clients’ extension of warehouse lines of credit and/or acquisition of general-purpose unsecured consumer loans or student loans (or receivables).
  • Conducted regulatory due diligence reviews of retail and home improvement financing companies, including direct lenders and sales finance companies, in connection with clients’ extension of warehouse lines of credit and/or acquisition of loans or receivables.
  • Conducted regulatory due diligence of a credit card issuer and its servicer in connection with a client’s purchase of receivables from multiple retail credit card programs.
  • Conducted regulatory due diligence of lead generators, credit services businesses, and online lending platforms in connection with clients’ equity investments in such companies.
  • Conducted regulatory due diligence of business-purpose financing programs, including fix-and-flip mortgage lending, receivables factoring, and merchant cash advances, in connection with clients extension of warehouse lines of credit and/or equity investments.
  • Advised on the consumer financial regulatory content of securities disclosures in connection with securitizations of marketplace lending and credit card receivables.

Examination Preparation and Enforcement

  • Conducted a mock CFPB examination of an auto finance company, including review of policies and other documentation provided by the company, as well as on-site interviews of operational, legal, and compliance personnel.
  • Assisted a retail financing company operating under a bank partnership model in providing responses in connection with a FDIC examination of its partner bank.
  • Represented a consumer reporting agency in a CFPB investigation regarding compliance obligations under FCRA.
  • Represented banks in connection with fair lending investigations conducted by the CFPB, DOJ, and HUD regarding issues such as alleged redlining and discrimination in REO property maintenance activities.

Pro Bono

  • Representing a Virginia prisoner in an ongoing habeas petition seeking protections afforded to juvenile offenders under Miller v. Alabama.
  • Represented a Virginia couple in federal litigation against a mortgage/foreclosure relief scam, resulting in settlement.

 

Education

Yale Law School, JD

Managing Editor, Yale Law and Policy Review

Stanford University, BA, with distinction

Stanford University, BS, with distinction

Admissions

  • District of Columbia
  • Virginia

Court

  • US Supreme Court
  • US Court of Appeals for the Fourth Circuit
  • US District Court for the Eastern District of Virginia
  • US Court of Appeals for Veterans Claims

Memberships

  • American Bar Association