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Nancy R. Thomas

Thomas, Nancy R.


Los Angeles, (213) 892-5561


Princeton University (B.A., 1988)
University of Chicago Law School (J.D., 1992)

Bar Admissions

New York


Hon. Stephen V. Wilson, U.S. District Court, C.D. California (1992-1993)

Nancy Thomas is a member and former co-chair of Morrison & Foerster’s Financial Services Litigation Practice Group. She is a consumer class action and enforcement lawyer who represents financial services companies in court and in administrative proceedings. Ms. Thomas has represented banks, credit card issuers, mortgage lenders and servicers, and other financial services companies in high-stakes litigation in state and federal courts across the country, and in investigations and enforcement actions brought by the CFPB, the DOJ, the FDIC, and the California Department of Business Oversight.

These matters have involved a wide variety of issues, including UDAAP, TILA disclosures, loan originator compensation, appraisal management company practices, vendor management, fair lending, information furnisher and credit bureau obligations under FCRA and related state laws, debt collection, and consumer bankruptcy. In addition, Ms. Thomas regularly counsels clients on how to avoid litigation or enforcement, including remediation scoping and execution, and UDAAP analysis and compliance.

Ms. Thomas has repeatedly won early dismissal or significant narrowing of class action suits challenging credit card and mortgage practices, including on federal preemption grounds and through motions to strike class claims. As part of her practice, Ms. Thomas has gained expertise in CAFA removal, arbitration, and complex electronic discovery issues.

Ms. Thomas is recognized by Legal 500 US as a top financial services litigator and by Benchmark Litigation as a leading California litigator. She also earned a place on the Benchmark Litigation and Euromoney Media Group lists of the Top 250 Women in Litigation. Ms. Thomas is an editor and contributing author of the firm’s award-winning quarterly financial services newsletter.

Ms. Thomas is the Vice-President of the Los Angeles Chapter of the Association of Business Trial Lawyers. She also is a member of the board of directors for Hathaway-Sycamores Children and Family Services, Inc., an organization that provides services to thousands of at-risk children and families each year.

During law school, Ms. Thomas was an associate editor of the University of Chicago Law Review and was elected to the Order of the Coif.

CFPB Enforcement Matter
Represented mortgage loan originator and appraisal management company in CFPB investigations. After a lengthy investigation, the CFPB issued a NORA. After submitting the company response, the CFPB decided to close both investigations without taking action.
CADBO Matter
Represented mortgage loan originator in enforcement action brought by the California banking regulator.
CFPB Enforcement Matter
Represented mortgage loan originator in judicial enforcement action filed by the CFPB.
Credit Card Disclosures Class Action
Representing credit card issuer in class action challenging fixed APR balance transfer offer disclosures.
Bank Data Breach Class Action
Represented bank in action alleging disclosure of personal information of bank customers.
Bank Regulatory Matter
Represented bank in enforcement action by the FDIC relating to unfair and deceptive acts and practices and other regulatory violations in connection with bank’s role as issuer of prepaid cards. Representation included scoping and formulation of restitution remedy and working with the bank to develop enhanced compliance procedures.
Coordinating Counsel on Bankruptcy Issues
Served as national coordinating counsel for major mortgage servicer in over 200 bankruptcy matters pursued by the United States Trustee challenging numerous bankruptcy practices and procedures.