Allen Denson brings a rare and powerful set of perspectives and tactics when fighting for financial institutions that are forced to defend themselves against financial regulators that challenge their marketing, lending and collection practices.
With insights and experience gained working as an enforcement attorney and as a private practice lawyer, Allen has the unique ability to see issues and their solutions more fully than many of his peers. As a former senior attorney at the Office of the Comptroller of the Currency, he developed a boots-on-the-ground understanding of how government officials think when pursuing enforcement issues. And as a private practice lawyer, he utilizes the experience he gained from being on the other side of table to craft winning strategies for his clients.
General Counsels, Owners and Chief Executives for financial services providers such as lenders, sales finance and leasing companies, fintechs, banks, debt collectors, lead generators, and auto dealers turn to Allen when they must defend themselves against government overreach. Allen is a frequent advocate before federal and state government regulatory bodies that include the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC) federal banking regulators (OCC, FDIC, and the Federal Reserve Board), state attorneys general and various state banking departments.
Clients regularly report how much they appreciate working with Allen based on his passion for finding a way to get the win. 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 like American Banker, Reuters and Law360.
Representative Matters
Allen has successfully navigated solutions for his clients in a number of highly contentious matters.
- Closed a CFPB investigation with no action on behalf of a major payday lender.
- Closed a CFPB investigation with no action on behalf of a publicly traded installment lender.
- Settled a CFPB investigation into another payday lender for pennies on the dollar by leveraging data to persuade the agency to drop certain claims.
- Closed a California Attorney General investigation with no action and no liability on behalf of a merchant cash advance company.
- Closed an FTC investigation with no action on behalf of an auto dealer.
- Obtained dismissal of all charges in a mass arbitration with no liability on behalf of an online lender
- Obtained dismissal of an FTC investigation with no action on behalf of an online leader generator.
- Secured reversal of a ratings downgrade and referral for enforcement on behalf of a state-chartered bank.
- Closed an investigation by the Arkansas attorney general with no action on behalf of a rent-to-own company.
- Resolved an investigation into alleged unlicensed lending by a state attorney general with no monetary penalty and no public action on behalf of an auto finance company.
- Resolved an investigation by the Washington Attorney General for pennies on the dollar in comparison to the initial demand on behalf of a fintech company.
Memberships
- Member, 2022 Fintech Editorial Board, Law360
- Young Lawyer Liaison, Federal and State Trade Practices Sub-Committee, Consumer Financial Services Committee, American Bar Association
Publications
- Co-author, “California’s Unfair Competition Law and Consumers Legal Remedies Act 2023 Annual Overview,” Stroock Client Memorandum, March 6, 2023
- Co-author, “The Ninth Circuit’s Decision In Wakefield v. ViSalus Addresses Due Process Limits On Aggregated Statutory Damages Awards,” Stroock Client Alert, March 3, 2023
- Co-author, “Latest CFPB Loss Signals Further Pushback on Agency Overreach,” Stroock Client Alert, February 17, 2023
- Co-author, “The FTC’s Proposed Non-Compete Ban and Consumer Finance: A Corollary Take,” Stroock Client Alert, February 10, 2023
- Co-author, “CFPB Settlement With Debt Collection Law Firm Suggests Heightened Standard for Attorney Involvement,” Stroock Client Alert, February 3, 2023
- Co-author, “U.S. Supreme Court Dismisses Cert in Case Concerning Scope of Attorney-Client Privilege for 'Dual Purpose' Communications,” Stroock Client Alert, January 27, 2023
- Co-author, "How Might Developing a Program of 'Light Patterns' Guard Against a Potential 'Dark Patterns' Claim?" Stroock Client Alert, January 17, 2023
- Co-author, “Potential First Amendment Defenses to a Dark Patterns Claim,” Stroock Client Alert, January 6, 2023
- Co-author, “How to Successfully Run the FTC’s Dark Patterns ‘Obstacle Course’ and Keep Your Online Business in Compliance with Consumer Protection Rules,” Stroock Client Alert, December 21, 2022
- Co-author, "$100M Vonage Settlement Shows FTC's 'Dark Pattern' Focus," Law360, December 19, 2022
- Co-author, “Cases to Watch: Supreme Court Grants Coinbase’s Petition Regarding Arbitration Stays,” Stroock Client Alert, December 13, 2022
- Co-author, “How the Federal Trade Commission Is Vigorously Targeting ‘Dark Patterns’ Marketing. Is Vonage’s Nine-Figure Settlement Just the Beginning?,” Stroock Client Alert, December 7, 2022
- Co-author, “CFPB Data Security Circular Portends Future Enforcement,” Stroock Client Alert, November 18, 2022
- Co-author, “Supreme Court to Address Preemptive Lawsuits Against Financial Regulators,” Stroock Client Alert, November 11, 2022
- Quoted, “CFPB facing ‘existential threat’ following appeals court funding ruling,” Compliance Week, October 25, 2022
- Co-author, “CFPB Facing Existential Threat As Its Funding Structure Is Held Unconstitutional By the Fifth Circuit,” Stroock Client Alert, October 21, 2022
- Co-author, “CFPB Releases BNPL Report Promising Additional Regulation,” Stroock Client Alert, September 16, 2022
- Quoted, “A Tough Time for Buy Now/Pay Later Fintechs,” American Banker, September 1, 2022
- Co-author, “CFPB Report Suggests Rulemaking Directed Toward Payment Ecosystems, Including BNPL Products,” Stroock Client Alert, August 10, 2022
- Co-author, “CFPB Clarifies Stance on Electronic Communications and Time and Place Restrictions Through Updated Debt Collection FAQs,” Stroock Client Alert, July 29, 2022
- Co-author, “CFPB Advisory Opinion Suggests More Active Enforcement of FCRA’s Permissible Purpose Requirements,” Stroock Client Alert, July 15, 2022
- Co-author, “CFPB Interprets the FDCPA to Prohibit Debt Collectors from Charging “Pay-To-Pay” Or “Convenience” Fees—Are Creditors Next?,” Stroock Client Alert, June 30, 2022
- Co-author, “CFPB’s Use of ALJs May Now Have Major Hurdle Thanks to Fifth Circuit,” Stroock Client Alert, May 20, 2022
- Quoted, “Connecticut Slaps Fintech Solo Funds With Cease-And-Desist Order,” American Banker, May 11, 2022
- Co-author, "California Appellate Court Approves Government’s Use of Private Contingent Fee Attorneys to Seek Civil Penalties in Unfair Competition Law Cases," Stroock Client Alert, May 4, 2022
- Quoted, "Fast growth of buy now, pay later attracts regulators as products evolve," S&P Global Market Intelligence, April 15, 2022
- Quoted, “Banks Are On High Alert as the White House Flags Potential Russian Cyberattacks,” MarketWatch, March 31, 2022
- Quoted, “CFPB's deadline looms for BNPL players,” Payments Dive, February 17, 2022
- Quoted, “CFPB Enforcement Is Down, But The Lull May Not Last Long,” Law360, February 14, 2022
- Quoted, “CFPB Director Chopra takes on tough payments issues,” Payments Dive, January 27, 2022
- Quoted, “Bank stocks may struggle to repeat gains of 2021 next year, but analysts see some grounds for optimism,” MarketWatch, December 22, 2021
Speeches & Events
- Speaker, “The Empire Strikes Back – Consumer Arbitration Under Fire,” Online Lenders Alliance Legal Issues Conference, February 23, 2023
- Speaker, "New and Emerging Consumer Financial Products," INFiN MoneyTrends 2022, October 12, 2022
- Speaker, “Fintech’s Role in the Changing Collections Marketplace,” 2022 Lend360, September 14, 2022
- Speaker, “How the Regulatory Landscape Will Impact Online Lending,” Online Lenders Association, April 27, 2022
- Speaker, "Buy Now Pay Later - Fundamentals, Functions and Fun With Regulators," Online Lenders Alliance Legal Issues Conference, February 16, 2022
Clerkships
- Law Clerk for the Honorable Virginia Emerson Hopkins, Federal District Court for the Northern District of Alabama, 2008-2009
Admitted To Practice
- Alabama
- District of Columbia
Education
J.D., magna cum laude, University of Alabama School of Law, 2008; Order of the Coif
B.A., cum laude, College of William & Mary, 2004
