Banking and Finance Regulatory Law Forum

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mrosmith

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Banking and Finance Regulatory Law

Post by mrosmith » Sun Oct 14, 2012 10:01 pm

Are firms scrambling to form consumer finance teams or is it just me?

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Re: Banking and Finance Regulatory Law

Post by Anonymous User » Sun Oct 14, 2012 10:02 pm

I'd be very grateful if you could list some firms who are expanding in this area -- I didn't realize there was such a need.

mrosmith

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Re: Banking and Finance Regulatory Law

Post by mrosmith » Sun Oct 14, 2012 10:11 pm

Here let me send you this spreadsheet I've been working on for days.

LawIdiot86

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Re: Banking and Finance Regulatory Law

Post by LawIdiot86 » Sun Oct 14, 2012 10:34 pm

It's just you. V100-type firms aren't expanding into consumer finance because most of that sector won't pay biglaw rates. Further, I was talking to an MP of a large consumer finance firm last month and the hiring partner of a different consumer finance firm last year and they said their growth is done. They hired up for the litigation from the crisis and advisory part of Dodd-Frank and now they're just riding the tail out with their existing workforce. One firm said it hired 29 lawyers in the last 18 months and expects to hire 10 total in the next five years.

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FattyMcFatFat

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Re: Banking and Finance Regulatory Law

Post by FattyMcFatFat » Sun Oct 14, 2012 10:43 pm

mrosmith wrote:Here let me send you this spreadsheet I've been working on for days.
No TLS post has ever made me laugh this hard.

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