Why you should attend
On January 4, 2012, President Obama appointed Richard Cordray as the first Director of the Consumer Financial Protection Bureau (CFPB). Since that time, the CFPB has been involved in a whirlwind of regulatory, supervisory and enforcement activities. In addition to the CFPB, state and other federal regulators are pursuing initiatives focused on consumer financial services. This year’s Institute will explore in detail the Bureau’s activities as well as other developments in consumer financial services regulation and litigation.
What you will learn
- Explore the ways in which the Dodd-Frank Act and the CFPB’s activities will affect your practice
- Get tips on preparing for a CFPB examination and responding to a CFPB civil investigative demand
- Study the latest regulatory and enforcement initiatives of federal and state regulators, including the CFPB, FTC, DOJ, OCC, FDIC, and state attorneys general
- Identify the regulatory and litigation priorities of consumer advocates in the coming year
- Understand the continuing implications of the U.S. Supreme Court ruling in AT&T Mobility v. Concepcion and the pending case, American Express v. Italian Colors for consumer arbitration agreements
- Get updates on the latest class actions and state attorneys general lawsuits against financial services companies
- Survey class certification and class action settlement developments
Who should attend
Bankers, lenders and lessors involved with consumer financial services and the lawyers who defend or sue them; lawyers who counsel financial institutions, loan servicers, loan brokers, debt collectors and credit bureaus on litigation and compliance issues; lawyers who represent and advocate for consumers; and government lawyers and law professors who specialize in consumer law will benefit from attending this program.
Day One: 9:00 a.m. - 5:00 p.m.
Morning Session: 9:00 a.m. - 12:45 p.m.
9:00 Introduction and Opening Remarks
Deepak Gupta, Alan S. Kaplinsky, John J. Roddy, Julia B. Strickland
9:10 Keynote Address: Meredith Fuchs, Associate Director & General Counsel, Consumer Financial Protection Bureau NEW SESSION
9:30 CFPB Regulatory Update
- Final rule defining obligations to assess borrowers’ ability to repay mortgage loans and the qualified mortgage rule
- Final rules on mortgage escrow requirements, mortgage servicing and remittances
- Status of rule to combine Truth-in-Lending Act (TILA)/Real Estate Settlement Procedures Act (RESPA) disclosures
- Future non-mortgage rules including prepaid cards
Rodrigo J. Alba, Leonard N. Chanin, Carrie JohnsonNEW SESSION
10:30 CFPB Enforcement Update
- Investigative and enforcement structure and procedures
- What we can learn from the CFPB’s consent orders
- The potential liability of officers and directors
Anthony Alexis, David R. Dugas
11:30 Networking Break
11:45 CFPB Supervision Update
- Who is subject to supervision now and who will be subject to supervision in the future
- Preparing for a CFPB examination
- The relationship between the supervisory and enforcement functions
- Does attorney/client privilege apply?
- Impact of the enactment of H.R. 4014 on the waiver of attorney/client privilege
Alice S. Hrdy, Margaret C. Liu, Eric J. Mogilnicki
Afternoon Session: 2:00 p.m. - 5:00 p.m.
2:00 Fair Lending & Mortgage Litigation
- Fair Lending
- Update on disparate impact under Equal Credit Opportunity Act (ECOA) and the FHA in the courts and before the CFPB, HUD and the DOJ
- Effect of the absence of disparate impact on both government and private litigation
- Risks and challenges of fair lending enforcement in connection with non-mortgage products
- Major risk areas to focus on in fair lending assessments
- Status of the Mt. Holly case before the U.S. Supreme Court
- Mortgage Litigation
- Update on private and governmental challenges to the Mortgage Electronic Registration System (MERS)
- Evolving case law on the Home Affordable Modification Program (HAMP) and the current status of HAMP related litigation
- Status of foreclosure documentation litigation
- Evolving case law on TILA rescission issues
- The latest on mortgage repurchase litigation
Martin C. Bryce, Jr., Eric I. Halperin, L. Jean Noonan, Ira Rheingold
3:45 Networking Break
4:00 Credit Card, Retail Banking and Emerging Payment Models
- Data breach litigation developments
- New theories of retail bank liability
- “Add-on” products litigation
- Emerging payment systems and Credit Card Accountability, Responsibility, and Disclosure Act (CARD Act) litigation updates
- Preemption developments
Cathleen M. Combs, Noah A. Levine
Day Two: 9:00 a.m. - 5:00 p.m.
Morning Session: 9:00 a.m. - 12:15 p.m.
9:00 State Regulatory Initiatives and Developments
- AGs’ use of private attorneys to enforce consumer laws
- Lending, servicing and securitization enforcement: five years into the foreclosure crisis
- Collection of unlawful debts: using debt collection enforcement to enforce payday lending laws
- AG responses to common defense strategies in consumer cases
- Ancillary product sales violations
Benjamin G.Diehl (invited), Tom James
10:00 Federal Financial Regulators Examine the Post Dodd-Frank Landscape
- Implications of Discover/Capital One/AMEX consent decrees involving allegations of deceptive telemarketing practices
- Regulators’ scrutiny of growing role of mobile devices in e-commerce
- Are the Facebook/Google/Equifax settlements changing privacy practices?
- Review of government efforts to quell scams targeting consumers facing foreclosure and other credit problems
C. Steven Baker, Grovetta N. Gardineer, Kathleen E. Keest
11:00 Networking Break
11:15 The New Consumer Perspective
- Is the CFPB living up to its promises?
- What should the CFPB's priorities be going forward?
- Advocates “wish list” for new legislation
- New priorities in private litigation
Beth E. Terrell, C Hunter Wiggins
12:15 Lunch Afternoon Session: 1:30 p.m. - 5:00 p.m.
1:30 Class Action Developments and Settlements and UDAP Update
- Class certification update: impact of WalMart on consumer cases?
- Has the landscape truly shifted?
- Class settlement update
- Developments regarding the reach of a class action release—are claims by regulators and AGs barred?
- Structuring a notice program to address the law and technology
- Other settlement considerations given current caselaw
- CARD Act litigation update
- UDAP developments
- Is the implied covenant the new UDAP
- Are state attorneys general parens patriae actions removable under CAFA?
- Status of Rule 68 offers of judgement in light of the pending U.S. Supreme Court case, Genesis Healthcare Corp. v. Symczyk
- Intersection between regulatory, AG and private litigation
Jennifer A. McCabe, Stephen J. Newman, Beth E. Terrell, Dr. Shannon R. Wheatman
2:45 Telephone Consumer Protection Act (TCPA), Collection and Bankruptcy Issues
- Going up the TCPA chain - on whose “behalf” are calls made?
- Are billing aggregators susceptible to TCPA liability?
- Debt collection in 2013
- The importance of knowing your service providers
- Vicarious liability under the Fair Debt Collection Practices Act (FDCPA)
John W. Barrett, Donald S. Maurice
3:45 Networking Break
- Lower court opinions after AT& T Mobility v. Concepcion
- Will the U.S. Supreme Court use the American Express v. Italian Colors case to create a “vindication of statutory rights” exception to Concepcion?
- Bases (other than class action waivers) for challenging arbitration provisions
- Status of the CFPB’s study of consumer arbitration under Dodd-Frank
Gary B. Friedman, Archis A. Parasharami
Rodrigo J. Alba
~ Vice President, Mortgage Finance & Senior Regulatory Counsel, American Bankers Association (ABA)
~ Deputy Enforcement Director for Field Litigation, Consumer Financial Protection Bureau (CFPB)
Benjamin G. Diehl
~ Deputy Attorney General, Office of the Attorney General of California
~ Associate Director & General Counsel, Consumer Financial Protection Bureau (CFPB)
Grovetta N. Gardineer
~ Deputy Comptroller for Compliance Policy; Office of the Comptroller of the Currency (OCC), U.S. Department of the Treasury
Eric I. Halperin
~ Special Counsel for Fair Lending, Civil Rights Division, United States Department of Justice
Alice S. Hrdy
~ Deputy Assistant Director, Office of Supervision Policy, Consumer Financial Protection Bureau (CFPB)
Thomas P. James
~ Senior Assistant Attorney General; Consumer Counsel, Consumer Fraud Bureau, Office of the Attorney General of Illinois
~ Senior Policy Counsel, Center for Responsible Lending
Kathleen E. Keest
~ Senior Policy Anaylst, Federal Depositi Insurance Corporation (FDIC)
Margaret C. Liu
~ Senior Vice President, Legislative & Deputy General Counsel, Conference of State Bank Supervisors
~ Executive Director, National Association of Consumer Advocates (NACA)
C. Hunter Wiggins
~ Deputy Enforcement Director for Strategy, Consumer Financial Protection Bureau (CFPB)
PLI's live programs are approved in all states that require mandatory continuing legal education for attorneys, except Arizona. Please be sure to check with your state for details.
Please check the CLE Calculator above each product description for CLE information specific to your state.
Special Note: In New York, newly admitted attorneys may receive CLE credit only for attendance at "transitional" programs during their first two years of admission to the Bar. Non-traditional course formats such as on-demand web programs or recorded items, are not acceptable for CLE credit. Experienced attorneys may choose to attend and receive CLE credit for either a transitional course or for one geared to experienced attorneys. All product types, including on-demand web programs and recorded items, are approved for experienced attorneys.
Please note: The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement.
If you have already received credit for attending some or the entire program, please be aware that state administrators do not permit you to accrue additional credit for repeat viewing even if an additional credit certificate is subsequently issued.
Credit will be granted only to the individual on record as the purchaser unless alternative arrangements (prearranged groupcast) are made in advance.