Consumer Financial Services Institute (15th Annual - Groupcast Location)

Overview

Co-Sponsored by New Jersey Institute for Continuing Legal Education

Why You Should Attend

With the economic stimulus package now in place and the economy beginning to show signs of recovery, Congress, the Federal Reserve Board, and the federal and state banking agencies are enacting new laws and promulgating new regulations which will have a profound effect on banks and other consumer financial services providers for
years to come. More statutes and regulations are certainly on the way.

The Obama Administration has proposed the creation of a new Consumer Financial Protection Agency which will be charged with regulating all consumer financial services products and enforcing the full array of federal consumer protection laws. In light of the flood of important activity in the regulatory arena, the 15th Annual Consumer Financial Services Institute will explore the latest regulatory and enforcement developments affecting the consumer financial services industry. This year’s Institute will also cover important developments in class action litigation, including analysis of the latest lawsuits filed against mortgage lenders, credit card issuers and other financial services providers, as well as updates on the war over consumer arbitration.

What You Will Learn

• Explore the latest developments at Treasury, the Federal Reserve Board, the Federal Trade Commission and the Department of Housing and Urban Development in the aftermath of the financial crisis
• Analyze the implications of significant opinions regarding federal preemption
• Get important updates on the latest developments involving the Class Action Fairness Act (CAFA), Real Estate Settlement Procedures Act (RESPA), Fair and Accurate Credit Transactions Act (FACTA), Credit Card Accountability, Responsibility, and Disclosure (CARD) Act and Unfair and Deceptive Practices (UDAP) statutes
• Study the impact of the attorneys general and other regulatory investigations into lending industry practices
• Examine the types of lawsuits being brought in the aftermath of the economic meltdown, including “change in terms” litigation against credit card issuers and the ongoing array of mortgage litigation

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, insurance companies, loan servicers, loan brokers, debt collectors and credit bureaus on litigation and compliance issues.

Special Bonus to all Registrants

All attendees receive a complimentary copy of PLI's comprehensive Course Handbook. This softcover, bound volume was written to augment this program and to stand alone as a permanent reference. PLI's Course Handbooks represent the definitive thinking of the nation's finest legal minds, and are often the standard reference in the field.

PLI Group Discounts

Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact membership@pli.edu or call (800) 260-4PLI.

Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Schedule

DAY ONE:  9:00 a.m. - 5:00 p.m.

Morning Session:  9:00 a.m. - 12:30 p.m.

9:00  Introduction and Opening Remarks

Alan S. Kaplinsky, John J. Roddy, Julia B. Strickland

9:15  Federal Regulatory Initiatives and Developments

• Overview of the latest developments at Treasury, the Federal Reserve Board, the Federal Trade Commission and the Department of Housing and Urban Development
• Details of, and prospects for, the proposed Consumer Financial Protection Agency and regulatory restructuring
• New disclosure requirements for mortgages, credit cards and private student loans

• Consumer arbitration initiative/National Arbitration Forum litigation - What happens next?
• Regulatory perspectives on preemption
• What industries and activities are the regulators focusing on?

• Credit card developments
  - Update on the status of the McCoy and Swanson decisions and their implications
  - Regulations under the CARD Act
  - Specter of litigation arising out of the CARD Act and the new UDAP rules
  - Change in terms litigation
• Retail banking developments and payment issues
  - Overdraft fee litigation: plaintiffs’ “available balance” theory and defenses, and status of MDL
  - Preemption issues
  - Electronic Funds Transfer Act (EFTA) litigation

• Changing of credit limit litigation
• Status of Equal Credit Opportunity Act (ECOA)/Fair Housing Act (FHA) cases
• Foreclosure related class actions
• Servicer actions/bankruptcy actions
• Challenges to Mortgage Electronic Registration Systems (MERS)

• Demise of the National Arbitration Forum
• Future of the use of arbitration for debt collection
• Important recent opinions dealing with class action waivers
• Status of federal and state legislation
• Implications of U.S. Supreme Court certiorari grant in Stolt-Nielson v. Animalfeeds

• Class action developments and settlements
  - Recent developments in class certification - Has recent caselaw changed the landscape?
  - Dealing with objectors/competing class actions
  - Issues arising in the settlement context
  - CAFA update
• UDAP update
  - Which states are UDAP filing magnets, and why?
  - Latest developments on the injury, reliance and causation fronts: who’s winning this key battle?
  - Recent judicial treatment of substantive defenses to UDAP claims
  - Certification of nationwide classes with UDAP claims

• Bankruptcy related issues
  - Implications of the U.S. Trustee’s allegations in the Countrywide Cases
  - Chapter 13 plans crafted to compel application of mortgage proceeds, requiring notice of fees and charges
  - Servicing abuses including failing to properly account for regular and deficiency payments pursuant to Chapter 13 plans
  - Servicing overcharges in the Chapter 13 process including continuing to collect pre-petition or other amounts of mortgage debts, and charging fees that are not brought before the Court for determination of reasonableness
• Credit reporting and collection issues
  - Fair Debt Collection Practices Act (FDCPA)
  - Foreclosure rescue
  - Fair Credit Reporting Act (FCRA) - FACTA litigation update
  - Debt settlement - regulatory and enforcement update
  - State court procedural actions against debt collectors

• Auto lending issues
• Student lending issues
• Home Affordable Modification Program (HAMP) impact
• Payday and auto title lending, including cross-border and Internet lending

Faculty

Co-Chair(s)

Speaker(s)

Program Attorney(s)

CLE Credit

Travel Information

New Jersey Groupcast Location

New Jersey Institute for Continuing Legal Education, One Constitution Square, New Brunswick, NJ 08901-1520. 732-249-5100.