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Joe  Reilly  focuses  his  practice  on  residential  mortgage  origination  and  servicing, including default and loss mitigation, and other consumer finance matters. As a Partner in Buckley Sandler’s Washington, DC office, he advises a wide range of clients on consumer finance matters before the Consumer Financial Protection Bureau (CFPB) and other federal and state regulators, in both the examination and enforcement context. Mr. Reilly’s work includes frequent counseling and advocacy on the entire panoply of new (Dodd-Frank Act-mandated) CFPB mortgage and other rules, as well as Real Estate Settlement   Procedures   Act   (RESPA),   unfair,   deceptive,   or   abusive   acts   or practices (UDAAP), mortgage insurance law, fair and responsible lending and servicing, preemption, disclosures, contract terms, and fee authorization.

Mr. Reilly authored The New CFPB Mortgage Origination Rules Deskbook, the seminal treatise on the regulations governing the mortgage origination industry issued under the Dodd-Frank Act. Published by the American Bankers Association (ABA) but applicable to the great number of non-bank originators as well, the CFPB Deskbook quickly became the ABA’s most downloaded publication ever. The treatise consolidates all the diverse sources of regulatory law and agency guidance into a “one-stop shop” for all Dodd- Frank  Title  XIV  mortgage  origination  rules,  including  those  on  Ability  to  Repay  & Qualified  Mortgages,  Points  &  Fees,  and  Loan-Originator  Compensation.  A  second edition  of  the  treatise  with  expanded  topics,  including  the  new  Home  Mortgage Disclosure Act (HMDA) Rule, was published in June 2017.

In advising clients, Mr. Reilly also draws on his extensive general enforcement and litigation  background.  This  experience  informs  his  advice  not  only  on  enforcement matters specific to consumer finance, but also on important issues such as how a court could view a question or dispute, as well as the protection of privileges, work product, confidential supervisory information, and associated waiver risks. His previous general enforcement  and  litigation  practice  included  defending  clients  in  enforcement proceedings   brought   by   the   Securities   and   Exchange   Commission   (SEC),   the Department of Justice (DOJ), and other regulators. In private civil matters (including class actions), he formerly asserted or defended claims in many legal fields, including several billion-dollar-plus cases involving D&O fiduciary duties, securities, antitrust, the civil Racketeer Influenced and Corrupt Organizations Act (RICO), and breach of contract.

Representative consumer finance matters include:

  • Representation of two top 10 banks and numerous other financial institutions in preparing for and responding to CFPB examinations, including the preparation of written responses to CFPB questions
  • Advice to non-banks and banks on the CFPB’s loan originator compensation and “ability to repay / Qualified Mortgage” rules
  • Advice to a top five bank and many other servicers on preparing to implement the CFPB’s mortgage servicing rules
  • Representation of a top 10 bank in the due diligence of an acquisition target’s mortgage origination and servicing operations
  • Advice on the federal preemption of state consumer credit laws
  • RESPA compliance advice to numerous settlement services providers
  • Representation of two large national banks in connection with Office of the Comptroller of the Currency (OCC) and attorney general investigations into alleged “robo-signing” and other defects in the foreclosure process

Mr. Reilly is Senior Vice Chair of the Truth-in-Lending Subcommittee of the American Bar Association’s Committee on Consumer Financial Services. He also is a member of the Banking Law Committee.

Prior  to  joining  Buckley  Sandler,  Mr.  Reilly  was  a  Special  Counsel  at  Sullivan  & Cromwell, and before entering private law practice, Mr. Reilly was an investment banker at Credit Suisse First Boston.

Clerkships: Mr. Reilly clerked on the Second Circuit for Judge Dennis Jacobs and separately clerked for federal district judge (now Second Circuit judge) Reena Raggi.

Congressional Experience: For over four years, Mr. Reilly served in several committee staff positions in the U.S. House and Senate, including as Chief Investigator for the House Financial Services Committee’s Democratic Staff, supervising that committee’s investigation of the “Whitewater” matter. He previously oversaw fair lending, consumer protection, and Bank Secrecy Act (BSA) matters for that staff.

Military Service: After completing U.S. Army ROTC at Stanford, Airborne School, Officer Basic Course (and later the Advanced Course), Mr. Reilly served as an Army Reserve Officer (a part-time position) in the 450th Civil Affairs Battalion (Airborne) for over four years.

Education: Mr. Reilly received his J.D. from the University of Virginia (Top 2%; Law Review), and his A.B. from Stanford University (Quantitative Economics and Public Policy).


  • J.D., University of Virginia (Top 2%; Law Review)
  • A.B., Stanford University (Quantitative Economics and Public Policy)


  • District of Columbia
  • New York
  • U.S. District Court, District of Columbia
  • U.S. District Court, Eastern District of New York
  • U.S. District Court, Southern District of New York
  • U.S. Court of Appeals for the District of Columbia Circuit
  • U.S. Supreme Court

Government Service

    • Chief Investigator for the House Financial Services Committee’s Democratic Staff

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