Education

University of Iowa College of Law, J.D., with distinction, 1991

  • Articles Editor, Iowa Law Review

Converse College, B.A., magna cum laude, 1987

Admitted

Illinois, 1992

Dianne Rist is a partner and the Co-Practice Group Leader of the firm’s Litigation Group. Her practice focuses on representing lenders and servicers in consumer finance class action litigation involving federal consumer protection laws such as the Truth in Lending Act (TILA), Home Ownership and Equity Protection Act (HOEPA), Real Estate Settlement Procedures Act (RESPA), Fair Credit Reporting Act (FCRA), Equal Credit Opportunity Act (ECOA), Fair Debt Collection Practices Act (FDCPA) and various state consumer fraud statutes.

Dianne also represents clients in general commercial litigation matters such as foreclosure, credit card portfolio and processing cases and lender/shareholder contract disputes. In addition, she has represented secured and unsecured creditors in bankruptcy, workout and restructuring matters.

Dianne is co-chair of the Women's Affinity Group and also a member of the associate evaluation and diversity committees. In addition, she was recently named Chapman’s first Wellness Partner and charged with implementing a comprehensive new wellness initiative for the firm.

Representative Transactions

  • Successfully represented mortgage lender in foreclosure matter where the Illinois Appellate Court held that three year limit for TILA rescission claims applies even when claim is brought defensively in response to a foreclosure.  
  • Represented Trustee of Securitized Mortgage Trust in important consumer finance class action resulting in a favorable Illinois Supreme Court ruling that the state’s limitation on lender’s interest charges and fees is preempted by federal law (Depository Institutions Deregulation and Monetary Control Act--DIDMCA) (U.S. Bank National Association v. Clark, Sept. 2005)
  • Successfully represented national mortgage lender in class action where borrowers alleged lender engaged in the unauthorized practice of law by charging a document preparation fee (Illinois Supreme Court - King, et al. v. First Capital Financial Services Corp., et al., April 2005)
  • Obtained a favorable ruling from the Seventh Circuit Court of Appeals regarding preemption of the state’s prepayment penalty limitation under the Alternative Mortgage Transactions Parity Act (AMTPA or Parity Act)
  • Represented national mortgage lender in consumer finance class action involving allegations of improper interest calculation potentially involving damages of up to $40,000,000
  • Represented numerous sub-prime mortgage lender assignees in suits involving claims under Section 32 (Home Ownership and Equity Protection Act--HOEPA)
  • Represented Automobile Loan Assignee in question of first impression regarding conflict between Illinois Consumer Fraud Act and Illinois Motor Vehicle Retail Installment Sales Act
  • Represented credit card merchant bank on various matters, including priority of federal restitution for credit card fraud (issue of first impression) and subrogation of bank to cardholder’s right to payment from surety guaranteeing merchant’s performance
  • Represented unsecured creditor in commodities broker liquidation

Publications

  • “Supreme Court’s Important Safeco Decision Clarifies Standard for a Willful Violation of the Fair Credit Reporting Act,” Bank & Lender Liability. Volume 13, Issue 9/September 17, 2007.
  • "Mortgage assignees has no duty of additional inquiry of mortgage documents under TILA," Consumer Financial Services Law Report. June 13, 2007.
  • “Wife’s lack of ownership interest dooms TILA disclosure suit,” Consumer Financial Services Law Report. November 29, 2006.
  • "Illinois Supreme Court holds DIDMCA preempts Illinois Interest Act's Fee Limitation on Residential Mortgage Loans," Consumer Financial Services Law Report. October 5, 2005.
  • "Has Illinois Interest Act been preempted, repealed?," Consumer Financial Services Law Report. February 9, 2005.
  • "Illinois Supreme Court Rejects Illinois Interest Act's Fee Limitation on Residential Mortgage Loans," The Real Estate Finance Journal. Winter 2005.
  • Comments in response to: Illinois court ruling: state predatory lending law pre-empted. Asset Securitization. October 3, 2005.
  • Comments in response to: Illinois Court Ruling Upholds Pre-emption. National Mortgage News. October, 2005.
  • Comments in response to: Illinois Court Ruling Upholds Pre-emption. Origination News. October, 2005.
  • Comments in response to: Illinois Court Ruling Upholds Pre-emption. Broker Universe. October, 2005.
  • Comments in response to: Cross-border private placements in the US: Current trends and developments. Global Banking and Financial Policy Review, 2005-2006.
  • Comments in response to: Ill. Court Decision May Provide Boost To MBS Mart. Securitization News. November 30, 2005.
  • Comments in response to: Illinois Court Says U.S. Law Pre-Empts State on Mortgage Fees. Bloomberg News. November 22, 2005.
  • Comments in response to: In Contract Breach, $436 Million Awarded to Astoria Federal. US Banker. November, 2005.
  • Comments in response to: What's Hot: A Favorable Ruling for Illinois Lenders. Debt & Equity Journal. October 10, 2005.
  • "Illinois Supreme Court to Decide Whether Illinois Interest Act's Three Percent Limitation on Points for Residential Mortgage Loans Has Been Preempted or Repealed," Counselorlibrary.com. January 24, 2005.
  • "Reply Brief Filed in U.S. Bank v. Clark -- Illinois Supreme Court to Decide Whether Illinois Interest Act's Limitation on Points for Residential Mortgage Loans Has Been Preempted or Repealed," Counselorlibrary.com. April 15, 2005.

Presentations

  • "New Legal Challenges for Mortgage Lenders: An Update," ABS West Conference. February 7, 2006.
  • "The Illinois Supreme Court's recent decision in U.S. Bank v. Clark," presented to the Chicago Bar Association Financial Institutions Committee. November 9, 2005.
  • "Significance of the Illinois Supreme Court's recent decision in U.S. Bank v. Clark," presented to the Chicago Bar Association Consumer Credit Committee. November 2, 2005.