CREDIT INFORMATION
Credits for:
2:00 p.m. - 3:00 p.m. EDT
WHY YOU SHOULD ATTEND
On July 21, President Obama signed into law The Dodd-Frank Wall Street Reform and Consumer Protection Act, the comprehensive financial reform bill that touches every aspect of financial services. Tailored for the consumer lending community, this program will present the practical implications of the recently enacted law and will help lenders be prepared for the impending changes.
WHAT YOU WILL LEARN
Of particular interest to lenders and others involved in consumer finance is Title 10 of the Act, which also is known as the Consumer Financial Protection Act of 2010 (the CFPA). Among other things, the CFPA creates a Bureau of Consumer Protection and vests it with broad regulatory and rulemaking authority, backed up by strong enforcement powers. Program presenters will cover the notable provisions of the CFPA and their practical impact, provide an overview of the new Bureau of Consumer Financial Protection, and discuss the implications for state-licensed lenders and banks.
TOPICS DISCUSSED
- Overview of the newly created Bureau of Consumer Financial Protection
- Practical impact of the Act
- Consequences for banks vis-a-vis federal preemption of state laws
- Strategic considerations for state-licensed lenders
TIMED AGENDA
Overview of the newly created Bureau of Consumer Financial Protection
2:00 p.m. - 2:10 p.m.
- General overview and structure
- Scope of authority
- Who does the Bureau govern?
- The Bureau’s powers and rulemaking authority
Practical impact of the Act
2:10 p.m. - 2:30 p.m.
- Impact on: lenders
- Impact on: loan brokers, servicers & CSOs
- Impact on: lead providers
- Impact on: debt settlement providers
Consequences for banks vis-a-vis federal preemption of state laws
2:30 p.m. - 2:40 p.m.
- "State consumer financial law" defined
- Bases for preemption
- National bank affiliates and subsidiaries
- Exportation of interest preserved and other issues
Strategic Considerations for Lenders and Lead Providers
2:40 p.m. - 2:55 p.m.
- Lenders:
- prepare for federal registration
- evaluate state licensing model
- Regulatory review
- Lead Providers, CSOs and Brokers”
- prepare for federal registration
- evaluate state lender and broker laws
- Evaluate impact of licensure
- Regulatory review
Q&A
2:55 p.m. - 3:00 p.m.
FACULTY
Claudia Callaway focuses her practice on the defense of state and federal class actions regarding consumer protection and consumer finance laws, representing clients in multiple regulatory and litigation areas, including the following:
- The Truth in Lending Act, Regulation Z and Regulation E
- The Equal Credit Opportunity Act and Regulation B
- The Fair Debt Collection Practices Act
- The Fair Credit Reporting Act
- The Gramm-Leach-Bliley Act, Regulation P and state privacy laws
- The FTC Act and state Unfair and Deceptive Trade Practices laws
- Removal of Class Actions to Federal Court under CAFA
- Application of the Federal Arbitration Act to consumer contracts, and enforcement of class action waiver contained in consumer arbitration agreements
- HOEPA, RESPA and Reg U
- Federal interest rate “exportation” (12 U.S.C. §§ 85 and 1831d) and state and federal bank regulatory advocacy
- State usury and consumer protection laws
Ms. Callaway also counsels clients on ways to prevent class action suits before they happen. She has offered advice on numerous state and federal banking and consumer protection matters, including privacy, collections, credit reporting and usury issues. Ms. Callaway has served as an adjunct professor at Georgetown University Law Center, taught in Georgetown’s Criminal Justice Clinic, and acted as faculty advisor to the national champion Georgetown Patent & Copyright Moot Court Team.
Ms. Callaway received her bachelor’s degree from Bryn Mawr College, where she received the Katherine Hepburn Award, and her law degree from Georgetown University Law Center, where she received the AmJur Award for Excellence in Oral Advocacy. She is a co-founder of the Financial Literacy Project, American Bar Association, Business Law Section; past co-chair of the Diversity in the Courtroom Subcommittee, Trial Practice Committee, American Bar Association, Litigation Section; a past member of the Bryn Mawr College President’s Advisory Council; and a member of the Hispanic College Fund Scholarship Selection Committee.
Christina Grigorian counsels clients regarding all aspects of bank and financial regulation. Ms. Grigorian provides advice to the Firm’s financial institution clients concerning structural and operational issues, including legislative developments impacting such operations, and has worked with companies and individuals in the establishment of de novo entities, including national banks, federal savings banks, and state-chartered institutions such as industrial loan companies. In addition, Ms. Grigorian has extensive experience in electronic payment networks, network processing and network participation agreements, and innovative uses of electronic funds transfers in areas such as state-funded childcare provider reimbursements. She also counsel numerous clients in the area of credit card operations, including private label card agreements and consumer documentation.
Ms. Grigorian also counsels clients on issues related to compliance with the USA Patriot Act, the Bank Secrecy Act and the regulations set forth by the U.S. Office of Foreign Assets Control. She has advised clients with respect to regulatory review of financial institutions for compliance with such regulations and has counseled numerous financial entities with respect to compliance issues raised during and after supervisory agency review.
Ms. Grigorian earned her B.A. in 1990 and M.A., with honors, in 1992 from The George Washington University. She received her J.D., with honors, from the University of Maryland School of Law in 1996 where she served as the editor-in-chief of The Business Lawyer, a joint publication of the University of Maryland School of Law and the American Bar Association Section of Business Law. In addition, she was a quarterfinalist in the Morris B. Myerowitz Moot Court Competition in 1996. Ms. Grigorian is admitted to practice in the District of Columbia (1998) and in Maryland (1996).
Michael White focuses his practice on the defense of state and federal class actions regarding consumer protection and consumer finance laws, including TILA, FCRA, FDCPA, ECOA, TCPA and related claims. He regularly counsels clients regarding the drafting and enforcement of class action waivers and arbitration agreements in consumer loan contracts.
Mr. White also has advised clients regarding the development, approval and substantiation of advertising claims, and has represented a number of clients in false advertising disputes brought under the Lanham Act and similar state laws, as well as in FTC enforcement actions. He has served as counsel in Lanham Act false advertising cases in federal court, the National Advertising Division and the National Advertising Review Board. He has counseled clients on unfair competition and trade regulation, including compliance with state escheat and rebate laws.