10100 Santa Monica Boulevard
Los Angeles, CA
Michael Thurman is a Los Angeles-based trial attorney who defends lawsuits, arbitrations and regulatory actions brought against businesses and their executives and employees. He regularly represents business clients in consumer protection class actions and government regulatory actions and investigations brought by the Federal Trade Commission (FTC) and state regulators, and counsels clients in various industries on advertising and marketing issues.
Mr. Thurman advises businesses and makes presentations regarding compliance and risk management issues, including supervisory and enforcement developments associated with the new Consumer Financial Protection Bureau (CFPB), which was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
He has represented numerous securities brokerage firms and registered representatives in litigation and arbitration actions, as well as regulatory matters brought by the Financial Industry Regulatory Authority (FINRA) - formerly the National Association of Securities Dealers (NASD) - and the U.S. Securities and Exchange Commission (SEC). He has also prosecuted and defended employment and general business litigation matters, including representing financial services clients in employee non-competition agreement and trade secret misappropriation declaratory and injunctive relief actions.
Follow Mr. Thurman on Twitter at CPD_Attorney to view updates on consumer protection issues and CFPB developments.
Prior Work Experience
Mr. Thurman previously served as the General Counsel and Senior Vice President of Wedbush Morgan Securities, managed in the Los Angeles office of Bear Stearns & Co. Inc. and was a litigation partner for the law firm of Keesal, Young & Logan. As a securities manager and attorney, Mr. Thurman held NASD licenses as a Registered Representative and a General Securities Supervisor.
Defending the principal of a debt settlement company in a Georgia class action alleging violations of the state's Debt Adjustment Act.
Assisted businesses in updating policies, procedures and marketing materials in preparation for supervision by the Consumer Financial Protection Bureau.
Defended a debt settlement company owner in consumer protection class action in Washington state court.
Defended a lighting manufacturing company and its principals in an FTC enforcement action filed in the United States District Court for the Central District of California alleging that the company's LED light technology packaging contains representations that violate Section 5 of the FTC Act. The case is significant in that the manufacturer’s principals successfully moved to dismiss the FTC claims for failure to satisfy the pleading requirements of Federal Rule of Civil Procedure 9(b), which the Court ruled is applicable to Section 5 deception cases filed by the FTC.
Obtained the pre-answer dismissal of a consumer protection class action against the principal of a debt settlement company in the Eastern District of Washington.
Advised several businesses in resolving Telephone Consumer Protection Act (TCPA) claims based on alleged telemarketing violations by vendors.
Resolved a California class action alleging that a national auto parts distributor's collection of zip code information violated the Song-Beverly Credit Card Act.
Assisted a marketer to resolve an FTC civil enforcement action filed in the United States District Court for the Central District of California involving alleged violations of the CAN-SPAM Act and Section 5 of the FTC Act for allegedly transmitting over a 40-day period more than 5.5 million text message advertisements leading consumers to a private website that appeared to be a government web address.
- Author, CFPB Settles Allegations of Improper Payments by Mortgage Insurers (April 2013)
- Author, CFPB Announces Plans to Hold Auto Lenders Liable for Discriminatory Loans (April 2013)
- Author, Your Complaints Just Went Public! The CFPB Expands Online Access to Consumer Complaint Data (March 29, 2013)
- Author, CFPB Proposes Rule to Supervise Largest Nonbank Student Loan Servicers (March 2013)
- Co-author, High Court Rules Pre-Certification Damages Stipulation Cannot Defeat Federal Jurisdiction Arising Under the Class Action Fairness Act (March 2013)
- Author, House Financial Services Committee Chair Challenges CFPB Funding (March 2013)
- Author, Better Business Bureau Shuts Down Southern California Chapter (March 2013)
- Author, FTC Releases Annual List of Top Consumer Complaints: Identity Theft, Debt Collection, Banks and Lenders, and Credit Cards Make Top 10 (March 2013)
- Former NASD-licensed Registered Representative and General Securities Supervisor
- Highest "AV Preeminent (5 out of 5)" Professional Rating, Martindale-Hubbell Law Directory
- Member, American Bar Association Section of Antitrust Law, Consumer Protection Committee
- Director, American Corporate Counsel Association, Los Angeles Chapter (1998-2000)
- Director, Region Coach and Assistant Commissioner, American Youth Soccer Organization, Region 214 (2000-2005)
- Director and Auxiliary Director, South Pasadena Education Foundation (1997-2006)
University of Oregon School of Law, J.D., 1985
Stanford University, A.B., Sociology, 1979, With Departmental Honors
Captain, Varsity Rugby
California State and Federal Courts
Oregon State and Federal Courts