What was once a revenue driver for several large firms has now slowed to a trickle, although some have managed to adjust in a new regulatory environment.
June 29, 2018 at 01:17 PM
1 minute read
Staff Reporter
The original version of this story was published on The American Lawyer
The day after President Donald Trump won the 2016 election, the roughly 600-lawyer Ballard Spahr still had a sizable practice focused on Consumer Financial Protection Bureau-related work. But Alan Kaplinsky, co-chair of the firm’s consumer financial services group, quickly called a meeting to forewarn his lawyers about the future.
“It’s not going to happen immediately,” Kaplinsky recalled telling the gathering. “But CFPB work is going to decline. We need to pivot.”
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