Whitney Nicholas headshot.

Whitney Nicholas

Of Counsel

Whitney Nicholas provides clients with regulatory compliance analysis of consumer financial services laws and regulations that impact their institutions. Whitney has experience advising on Consumer Financial Protection Bureau (CFPB) and National Credit Union Administration (NCUA) consumer and business lending regulations.

Prior to joining Foley, Whitney was Senior Federal Compliance Counsel at the Credit Union National Association, the leading national trade association for the credit union industry, where her work focused on regulatory compliance analysis of consumer financial services laws and regulations impacting credit unions.

She has substantial experience counseling financial institutions regarding compliance with federal and state consumer lending laws, including the Home Mortgage Disclosure Act, Truth in Lending Act, Real Estate Settlement Procedures Act, Fair Credit Reporting Act, Equal Credit Opportunity Act, and the Federal Credit Union Act.

She also has experience working with federal regulators such as CFPB and NCUA to formulate regulatory and legislative solutions to consumer lending regulations that impact financial institutions. Whitney is also a frequent speaker at industry conferences and events.

Affiliations

  • Former Consumer Finance Committee Chair, D.C. Bar
  • Member, Women in Housing and Finance
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May 6, 2025 Foley Viewpoints

Is Your Company Prepared for the FTC’s Junk Fees Rule, Effective May 12?

On May 5, 2025, the Federal Trade Commission published FAQs aimed at providing consumers and businesses with information regarding the agency’s Rule on Unfair or Deceptive Fees banning so-called “junk fees,” which takes effect on May 12, 2025.
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February 25, 2025 Consumer Class Defense Counsel

CFPB, FDIC, and OCC Updates: Firings, Appointments, and Potential Consolidation

We previously reported on changes to leadership at the Consumer Financial Protection Bureau (CFPB), the halt of all activities at the CFPB, and the impacts to the financial services industry.
February 11, 2025 In the News

Foley Attorneys on CFPB Shutdown - Industry in 'wait-and-see mode'

Foley & Lardner LLP attorneys Christi Lawson, Natasha Dempsey, and Whitney Nicholas assessed the Trump administration's curtailment of the Consumer Financial Protection Bureau (CFPB) in the Newsweek article, "What CFPB Shutdown Means for Junk Fees."
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February 10, 2025 Foley Viewpoints

New Consumer Financial Protection Bureau Acting Director Expands Freeze to All CFPB Activities; CFPB Office Closes

On Friday, February 7, 2025, President Trump named newly confirmed director of the Office of Management and Budget, Russell Vought, as acting director of the CFPB.
A large neoclassical building with tall columns, engraved "The Treasury Department," stands before a statue on a tiled plaza—reminiscent of the prestigious facades often seen at top corporate law offices and lawyers in Chicago.
February 4, 2025 Foley Viewpoints

Treasury Secretary Bessent Heads Consumer Financial Protection Bureau, Immediately Orders Freeze of CFPB Activities

On Saturday, February 1, 2025, it was announced that President Donald Trump had removed Rohit Chopra as director of the Consumer Financial Protection Bureau (CFPB).
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January 13, 2025 Innovative Technology Insights

Game On: How the CFPB’s EFTA and Regulation E Changes Could Shape Video Game and Online Marketplace Transactions

As banking and payment services become more prevalent in video gaming, the CFPB is proposing an expansion of the EFTA and Regulation E.