Former Consumer Fraud Enforcement Attorney Joins Hinshaw in Chicago
The U.S. law firm of Hinshaw & Culbertson LLP today announced that Vaishali S. Rao has joined the firm as a partner in the Chicago office. Previously an Assistant Attorney General for the Office of the Illinois Attorney General, where she served as a supervising attorney in the Consumer Fraud Bureau, Rao will join the firm's Consumer Financial Services group. She will focus her practice on regulatory compliance counseling—especially with unfair, deceptive and abusive consumer protection laws—across financial services industries including loan servicing and debt management, as well as in the health care industry.
"I'm thrilled to welcome Vaishali to our team," said Ellen Silverman, Practice Group Leader of the firm's Consumer Financial Services group. "She has fantastic insight into all aspects of the regulatory enforcement process across the spectrum of consumer fraud and debt servicing, having worked on some of the most significant enforcement cases in these areas over the past decade. Our clients will benefit greatly from her experience."
Rao has led investigations and enforcement actions involving mortgage, student loan, financial and health care fraud maters. She led the litigation team on People v. Standard and Poor's over allegations of misleading credit rating practices, a case that settled for nearly $1.4 billion. She also led the largest national investigation into student loan origination, servicing and debt collection practices, in concert with other state Attorneys General. She worked with Federal agencies on negotiations that resulted in a $25 billion mortgage servicing settlement with the nation's five largest servicers. She is very familiar with agency personnel at the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), and also at the state regulatory level.
"I'm looking forward to helping clients manage their exposure to government actions and navigate complex regulatory requirements that can be challenging for businesses to implement," said Rao. "With the current uncertainty of federal regulation across many industry sectors, state Attorneys General will play an even greater role in policing the marketplace. I intend to use my experience in consumer protection to help clients develop compliance strategies that can significantly reduce the risk of government enforcement."
Rao is a graduate of The John Marshall Law School (J.D.) and the University of Pittsburgh (B.S.B.A, B.A.). She is admitted to practice in Illinois and the U.S. District Court for the Northern District of Illinois.