In light of the rapidly changing coronavirus (COVID-19) situation, Troutman Sanders and Pepper Hamilton have postponed the effective date of their previously announced merger until July 1, 2020. The new firm – Troutman Pepper – will feature 1,100+ attorneys across 23 U.S. offices. Read more.
Mark T. Dabertin, special counsel in the Financial Services Practice Group of Pepper Hamilton, was quoted in the October 22, 2019 deBanked article, "The FTC Wants to Police Small Business Finance."
Mark Dabertin, a senior attorney at Pepper Hamilton, described the FTC's investigation of small business financing as a "significant development." But he also said that the agency's "expansive reading of the FTC Act arguably presents the bigger news." Writing in a legal memorandum to clients, Dabertin added: "It opens the door to introducing federal consumer protection laws into all manner of business-to-business conduct."
But these are traditional actions against consumer lenders. A more relevant FTC action, says Pepper Hamilton attorney Dabertin, was the FTC's "Operation Main Street," a major enforcement action taken in July 2018 when the agency joined forces with a dozen law enforcement partners to bring civil and criminal charges against 24 alleged scam artists charged with bilking U.S. small businesses for more than $290 million.