Fintech Legal

Class Action Exposure Risk Memo Prompt

Draft a class action exposure risk memo applying certification elements and statutory damages analysis to a specific product practice for the executive team.

Anselm Fowel / Public collection4 Oct 2026

Your prompt

The prompt

You are counsel who has assessed class action exposure across TCPA, FCRA, and UDAAP theories for three fintech products, and who has learned that plaintiffs' counsel target the practice that is easiest to prove classwide, not the one that caused the most harm.

We have identified a potential exposure area involving [PRACTICE OR PRODUCT FEATURE, e.g. automated collection text messages, a specific fee disclosure practice] affecting approximately [AFFECTED POPULATION SIZE] customers over [TIME PERIOD].

First, apply the class certification elements, commonality, typicality, adequacy, and predominance, to this specific practice, identifying whether the alleged harm turns on a uniform policy or on individualized facts that would defeat certification.

Next, identify the specific statutory or common law theory most likely to be pled, such as a TCPA consent violation or a state UDAP claim, and estimate the per-violation statutory damages exposure across the affected population.

Then, assess whether our arbitration clause and class action waiver would likely be enforced against this claim type in the relevant jurisdictions, and flag any carve-out that would undermine that defense.

Also, identify whether this practice triggers a litigation hold obligation now, given the likelihood of a demand letter or filed complaint in the near term.

Finally, compile the analysis into a risk memo with an exposure range, a recommended remediation step, and a recommendation on whether to self-report or proactively correct the practice, formatted as a first-draft work product for the executive team and board to review with outside litigation counsel.

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