Tara L. Elgie

Tara provides compliance and litigation advice to financial institutions related to federal and state consumer protection laws. Tara has extensive experience defending and advising financial institutions in consumer finance litigation and regulatory compliance matters. Tara regularly defends financial institutions in litigation involving various provisions of the Bankruptcy Code, the Fair Credit Reporting Act, Fair Debt Collection Practices Act, Telephone Consumer Protection Act, Truth In Lending Act, Real Estate Settlement Procedures Act, and various state statutes related to consumer protection and unfair and deceptive acts and practices. Tara’s consumer finance litigation and compliance experience crosses various product lines, including mortgage, auto, credit card, student loans, and FinTech. She currently works with a team that serves as national consumer bankruptcy counsel for a national bank. Tara also works with a team defending a mortgage servicer against Telephone Consumer Protection Act claims throughout the country.

Tara also has significant experience helping clients develop and enhance internal programs and processes to ensure compliance with federal and state consumer protection statutes. For example, she has advised a national bank in overhauling its policies and procedures for originating and servicing mortgage accounts in bankruptcy. Tara also has prepared Fair Credit Reporting Act and Fair Debt Collection Practices Act compliance policies for multiple financial institutions. She also advised a national bank in implementation of the TILA-RESPA Integrated Disclosure Rule in preparation for compliance audits and exams.

Tara routinely advises clients on matters involving the acquisition, use and sharing of consumer data, including personally identifiable information and financial information, under various state and federal laws. Her work includes advising on use of AI, machine learning and data analytics in risk underwriting modeling and other financial services modeling for potential use in consumer lending and consumer financial services, including analysis and advice on how to explain AI algorithm operations to applicable regulators.

• Defended financial institutions in consumer bankruptcy litigation and contested matters brought by Debtors, Trustees, and the Office of the United States Trustee including against claims asserting violations of the automatic stay and discharge injunction.
• Defended financial institutions and servicers across product lines, including credit card issuers, mortgage lenders and auto lenders in litigation, against claims under Fair Debt Collection Practices Act, Fair Credit Reporting Act, and Telephone Consumer Protection Act.
• Defended financial institutions in litigation by the Office of the United States Trustee asserting claims under the Bankruptcy Code related to consumer bankruptcies.
• Advised auto lending, mortgage lending and credit card issuing financial institutions on compliance with the Bankruptcy Code, Fair Debt Collection Practices Act, Fair Credit Reporting Act, Truth in Lending Act, Real Estate Settlement Procedures Act, and other consumer compliance statutes.
• Assisted financial institutions in developing comprehensive programs for compliance with the bankruptcy notification and claims filing process.
• Prepared financial institutions for regulatory exams and assisted in responding to civil investigative demands.

• Recommended for FinTech, Legal 500 United States, 2020
• Selected for inclusion as a Virginia “Rising Star,” Bankruptcy, Virginia Super Lawyers, 2008-2012
• Selected for inclusion as a Virginia “Super Lawyer,” Bankruptcy, Virginia Super Lawyers, 2013-2015

• Member, Texas State Bar
• Member, Virginia State Bar
• Member, American Bankruptcy Institute