"When Tara Trantham talks about the cost of delay, she is not speaking in hypotheticals. As the chief legal officer of a billion-dollar publicly traded company, she faced simultaneous investigations from the Consumer Financial Protection Bureau and the Department of Justice. Without the benefit of legal technology or streamlined processes, she and her team had to manually pull five years of legal complaints into spreadsheets for multiple agencies."
"The impact was immediate. On the day the company had to publicly disclose the investigation, its market capitalization dropped by roughly $250 million. The operational toll was just as severe. While the legal team was buried in document collection, the business teams were pulled from their core work to find and deliver records. Growth slowed while compliance consumed the organization."
""If we had embedded legal and compliance earlier into operational processes, and had the right technology in place, we could have reduced the time from years to months and saved millions.""
Tara Trantham, a chief legal officer at a billion-dollar public company, faced simultaneous CFPB and DOJ investigations that required manually compiling five years of legal complaints into spreadsheets. The process took five years and generated hundreds of millions in expenses and lost productivity, and the company's market capitalization fell roughly $250 million upon public disclosure. Business teams were diverted from core work, slowing growth as compliance consumed resources. Embedding legal and compliance early and deploying legal technology could shrink response time from years to months and save millions. The same early-engagement principle applies to contracting, recordkeeping, approval workflows, and remediation costs.
Read at Above the Law
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