Kaley Schafer is an associate in the firm’s Business and Transactions Department, focusing on consumer financial services matters, regulatory compliance, and Anti-Money Laundering/Bank Secrecy Act (AML/BSA) and Office of Foreign Asset Control (OFAC) issues. Kaley counsels on BSA/AML and OFAC requirements, as well as a broad spectrum of federal consumer financial regulations, including the Truth in Lending Act (TILA), the Home Mortgage Disclosure Act (HMDA), the Fair Credit Reporting Act (FCRA), the Equal Credit Opportunity Act (ECOA), the Telephone Consumer Protection Act (TCPA), and the Fair Debt Collection Practices Act (FDCPA). Kaley has worked with various consumer financial services providers, including banks, credit unions, and Fintechs on matters involving advertising and marketing, licensing, consumer disclosures and agreements, and pricing.
Experience
Representative Matters
- Conducted mock CFPB compliance examinations for non-bank financial institutions, including reviews of BSA/AML policies and compliance
- Drafted BSA/AML and OFAC policies for financial institutions, including money service businesses and non-bank lenders
- Advising major bank on compliance with the CFPB’s Small Business Data Collection Rule (e.g. Section 1071 Rule)
- Advising major bank on issues involving the Customer Due Diligence Rule, the Customer Identification Program requirement, and the Corporate Transparency Act
- Drafted consumer contracts and advised on state consumer protection requirements for home improvement and solar provider clients
Professional Highlights
Professional Activities
American Bar Association, Member, Business Law Section, Credit Unions Committees
Association of Certified Anti-Money Laundering Specialists, Recipient, Certified Anti-Money Laundering Specialist (CAMS)
National Association of Federally-Insured Credit Unions, Recipient, NAFCU Certified Compliance Officer (NCCO) and NAFCU Certified Bank Secrecy Officer (NCBSO)
Board Memberships & Community Service
Founder/Former President of Orange County, CA, alumni chapter of Washington State University
Credentials
Education
Western State University College of Law (J.D. 2013)
Business Law Certification
Exemplary Public Service Certificate
Washington State University (B.A. 2009)
Admissions
California
District of Columbia