Phil Cedar has more than 30 years of experience, both in private practice and as senior in-house counsel, in the securities and financial services industries. As Of Counsel in Buckley Sandler LLP's New York office, Mr. Cedar advises clients on compliance with federal and state consumer protection laws, including Unfair, Deceptive and Abusive Acts and Practices (UDAAP), Real Estate Settlement Procedures Act (RESPA), fair lending, and the Truth in Lending Act (TILA).
He also has broad experience with the trading of corporate, mortgage, asset-backed, and structured securities, repurchase agreements, and other financing transactions. In addition, Mr. Cedar concentrates his practice in fixed income securities and mortgage markets, providing transactional and regulatory advice to banks, broker-dealers, and their affiliates, as well as to mortgage originators and servicers.
Recent engagements include:
- Representing numerous banks and non-bank mortgage originators and servicers in preparation for and during Consumer Financial Protection Bureau (CFPB) examinations
- Representing non-bank servicers in complex commercial litigation, CFPB investigations and Department of Justice (DOJ) False Claims Act (FCA) investigations
- Reviewing national bank’s insurance-related business line under UDAAP standards
- Acting as principal advisor on banking regulation to a leading national bank and its broker-dealer affiliate to determine the application of numerous regulations to multiple lines of business
- Advising regional bank regarding its residential mortgage documentation and disclosure program
Prior to joining Buckley Sandler, Mr. Cedar was a Partner in the financial services group of K&L Gates LLP. He also served as a Senior Managing Director in the legal department of Bear Stearns, covering the firm's fixed income, mortgage, and asset-backed businesses. Mr. Cedar began his career as a litigator at Skadden, Arps, Slate, Meagher & Flom LLP.
Mr. Cedar has been a speaker and panelist at financial services industry events, including The Bond Market and the Mortgage Bankers Association's Legal and Compliance Conferences. He received his J.D. from Boston College and his A.B. from Brandeis University.
CFPB's New "Responsible Conduct" Guidelines: Will They Incentivize Greater Self-Reporting and Self-Regulation by Consumer Finance Firms?
On June 25, 2013, the Consumer Financial Protection Bureau (CFPB or the Bureau) issued CFPB Bulletin 2013-6, titled ‘‘Responsible Business Conduct: Self-Policing, Self-Reporting, Remediation, and Cooperation.’’ The CFPB issued the guidance to provide entities with a set of ‘‘activities’’ that they...Articles