Covington & Burling LLP operates as a limited liability partnership worldwide, with the practice in England and Wales conducted by an affiliated
limited liability multinational partnership, Covington & Burling LLP, which is formed under the laws of the State of Delaware in the United States
and authorized and regulated by the Solicitors Regulation Authority with registration number 77071..
An accomplished and commercially-minded litigator, Valerie Hletko’s practice has a particular emphasis on financial services regulation and enforcement. She counsels a wide range of financial services industry participants as they navigate dynamic and increasingly interrelated state, federal, and global legal and regulatory challenges.
Valerie represents clients in complex civil litigation, as well as in investigations and administrative enforcement actions initiated by the U.S. DOJ, FDIC, FRB, CFPB, HUD, and state bank regulatory agencies and state Attorneys General. She has assisted clients with pre-enforcement matters relating to a variety of consumer financial products and services, including responding to PARR letters, NORA letters, and managing issues relating to self-disclosure.
Valerie also counsels clients in connection with regulatory examinations and governance and risk management matters implicated by consumer financial laws, including the Fair Credit Reporting Act, the Equal Credit Opportunity Act, the Fair Housing Act, the Fair Debt Collections Practices Act, the Truth in Lending Act, the federal Servicemembers Civil Relief Act and related state laws, the Military Lending Act, and prohibitions on UDAP in Section 5 of the Federal Trade Commission Act: UDAP and Section 1036 of the Consumer Financial Protection Act: UDAAP.
Chambers USA says that she is a “whip-smart lawyer and is seen as a really thoughtful problem solver,” that she has “deep expertise in consumer financial services enforcement regimes,” that her “ability to concisely articulate and argue complex issues is particularly impressive,” and that “she's a pleasure to work with and well thought of by her opponents." Valerie is ranked Band 1 in Financial Services Regulation: Consumer Finance (Litigation). She frequently speaks and publishes on a range of subjects of interest to financial institutions, including fintech, fair and responsible banking practices, specialty finance, and regulatory enforcement trends.
Consumer reporting company in a lawsuit filed by the CFPB, which alleges violations of a consent order and federal consumer financial laws in connection with the marketing and sale of credit scores and credit monitoring subscription products.
National bank in lawsuits filed in the Northern District of Georgia and the Northern District of Illinois by municipalities alleging violations of the FHA arising out of the foreclosure crisis.
Nonbank mortgage lender in an investigation and settlement with the DOJ and U.S. Attorney’s Office for the Northern District of New York relating to alleged violations of the False Claims Act and Financial Institutions Reform, Recovery, and Enforcement Act in connection with the origination of mortgages insured by the Department of Housing and Urban Development’s Federal Housing Administration or guaranteed by the Department of Veterans Affairs.
Fintech company in a lawsuit filed by the Administrator of the Colorado Uniform Consumer Credit Code challenging federal preemption under Section 27 of the Federal Deposit Insurance Act and the valid-when-made rule, which resulted in a landmark settlement establishing a safe harbor for the fintech-bank partnership model.
Retailer in a CFPB and New York Attorney General investigation alleging TILA and UDAAP violations relating to the offering of in-store credit card accounts, and in class action litigation following issuance of the consent order.
National bank in a settlement with the DOJ over alleged violations of the SCRA relating to automobile repossessions.
Nonbank mortgage servicer in multiple class actions relating to post-default inspection fees, resulting in dismissal.
Bank in a lawsuit relating to agent fees for loans issued by the Small Business Administration under the Paycheck Protection Program.
Industrial bank in connection with a fair lending referral to the DOJ, which was sent back to the FDIC.
Multiple nonbank mortgage lenders in CFPB investigations.
National bank in a HUD investigation of alleged violations of the FHA in connection with underwriting practices.
Multiple industry participants in investigations by the New York Department of Financial Services relating to advertising on social media and the Washington State Department of Financial Institutions relating to licensable activity.
Nonbank mortgage lender in contractual dispute relating to the purchase of mortgage loans pursuant to the terms of a monitorship.
Nonbank mortgage lender in a HUD investigation relating to appraisal discrimination.
Nonbank mortgage lender in a HUD investigation relating to pricing discrimination.
National bank in connection with a 30-day letter from the OCC relating to redlining.
Multitude of institutions in preparing for, completing, and responding to findings resulting from supervisory examinations.
Back
