People

David Lesser

Partner

Lesser, David

David Lesser focuses his practice on representing financial institutions in litigation and regulatory matters. He is a highly skilled litigator who has experience handling a wide variety of civil litigation matters, including extensive experience with appellate litigation and defense of complex securities and consumer banking class actions. Mr. Lesser has represented clients in cases involving securities, antitrust, CEA, RICO, FCRA, TILA, contract, and tort law claims, among others. He has also represented financial clients in bank regulatory examination and enforcement matters involving the CFPB, FDIC, OCC, and other federal and state regulators. He also regularly provides regulatory counseling to financial institutions, including conducting compliance reviews concerning federal and state consumer financial laws. 

Representative matters include:

Recent Litigation Highlights

  • Represents large financial institution in connection with all state and federal litigation arising out of alleged LIBOR manipulation
  • Represents large financial institution in connection with federal securities litigation arising out of the subprime crisis and related matters
  • Represents large financial institution in connection with litigation concerning alleged market-making of unregistered securities
  • Represents large financial institution in connection with consumer class-action litigation concerning forfeiture of credit card rewards points
  • Represents large financial institution in connection with all merchant and consumer antitrust litigation concerning the setting of interchange fees (e.g., In re Payment Card Interchange Fee and Merchant Discount Antitrust Litig.; Salveson v. Bank of Am. et al.)
  • Represented two defendant underwriters in connection with 55 industry-wide cases alleging violations of Section 16(b) short swing profit regulations in connection with certain initial public offerings 
  • Represented several underwriter defendants in IPO-related antitrust and securities class action litigation (e.g., In re Initial Public Offering Securities Litigation; In re Initial Public Offering Antitrust Litigation; In re Public Offering Fee Antitrust Litigation; and Friedman v. Salomon Smith Barney Inc. et al.
  • Represented large financial institution in connection with high-frequency trading civil class litigation
  • Represented large financial institution in connection with consumer class-action litigation concerning overdraft fees and transaction posting order (In re Overdraft Fee Litig.)
  • Represented large financial institution in connection with consumer class-action litigation arising out of credit-card APR repricing

Recent Regulatory Highlights

  • Counseled large financial institution in connection with review of credit-card add-on products
  • Represented numerous large financial institutions in connection with examinations and enforcement actions by various federal regulators including the CFPB, OCC, and FDIC
  • Counseled large financial institution in connection with fair lending issues
  • Counseled large financial institution in connection with exportation of interest rates
  • Counseled several large financial institutions in connection with compliance with UDAAP and other federal and state consumer financial laws
  • Counseled large consumer electronics merchant in connection with review of payment plan and compliance with federal and state consumer financial laws
  • Counseled large reverse-mortgage lender in review of compliance with federal consumer financial law

Background

Mr. Lesser received his JD from Yale Law School in 2001. While pursuing his JD, Mr. Lesser also obtained a graduate M.Phil. degree in American Studies. Upon graduating from law school, he clerked for the Honorable Rosemary Barkett of the United States Court of Appeals for the Eleventh Circuit. 

Honors & Awards

Publications & News

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July 12, 2017

CFPB Releases Final Rule Banning Certain Pre-Dispute Arbitration Agreements

On July 10, the CFPB announced its long-anticipated final rule to prohibit the use of pre-dispute arbitration agreements to block consumer class actions in contracts for consumer financial products and services.

June 9, 2017

The Legal 500 United States 2017 Recognizes 125 WilmerHale Lawyers Across 28 Practice Areas

The Legal 500 United States has released its 2017 rankings, recommending 125 WilmerHale lawyers—including 12 who are named to its elite “Leading Lawyers” list and two on its “Next Generation Lawyers” list—and 28 practice areas in its 11th edition.

July 14, 2016

Brooklyn Defender Services Recognizes WilmerHale’s Pro Bono Contributions

The firm has provided pro bono support to the Family Defense Practice in parents' rights cases since 2011, and several current and former WilmerHale lawyers have served on the organization's advisory board.

May 20, 2016

Supreme Court Vacates Ninth Circuit Decision in Spokeo, Remands for Analysis of Concrete Harms

On Monday, the Supreme Court issued its decision in Spokeo v. Robins, which posed the question of whether Article III standing requires a plaintiff to have a concrete injury when alleging a statutory violation under the Fair Credit Reporting Act (“FCRA”).

May 6, 2016

CFPB Releases Long-Awaited Proposal on Pre-Dispute Arbitration Agreements

On May 5, 2016, the Consumer Financial Protection Bureau released a proposed rule to prohibit the use of pre-dispute arbitration agreements to block consumer class actions.

October 21, 2015

Sanctuary for Families Honors WilmerHale Lawyers for Outstanding Pro Bono Support of Gender Violence

Sanctuary for Families, New York State's leading service provider for survivors of domestic violence, sex trafficking and other related forms of gender violence, honored a group of WilmerHale lawyers for the third consecutive year with an Above & Beyond Award for Excellence in Pro Bono Advocacy.

July 11, 2014

WilmerHale Achieves Pro Bono Victory for Domestic Violence Victim and Autistic Child

On July 8, 2014, WilmerHale achieved a significant victory for a pro bono client and domestic violence victim in a case described by the Second Circuit as involving “novel and significant issues” of “first impression” under the Hague Convention on the Civil Aspects of International Child Abduction.

November 17, 2010

WilmerHale Announces 2011 Partner and Special Counsel Promotions

WilmerHale is pleased to announce the 16 lawyers who will be elevated to partner and special counsel, effective January 1, 2011. They represent all five legal departments, across five of the firm's offices, and serve clients in the technology, life sciences, financial services and other areas of greatest challenge, complexity and importance.

November 13, 2007

WilmerHale Names New Partners and Counsel for 2008

June 5, 2007

Supreme Court Decision Regarding Standard for “Willful” Violations of the FCRA

Practices

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Education

JD, Yale Law School, 2001

MPhil, Yale University, 1999

BA, University of Virginia, 1991

Bar Admissions

New York

Languages

French

Clerkships

The Hon. Rosemary Barkett, US Court of Appeals for the Eleventh Circuit, 2001 - 2002

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