Events

EVENTS

American Conference Institute's 8th National Consumer Finance Class Actions and Litigation Conference

This program has been approved in accordance with the requirements of the Continuing Legal Education Board. CLE Credit will be granted to attorneys.

Click here for the official conference brochure and registration form. (New York, NY)

The EVOLUTION in defending against consumer finance class actions and litigation continues:

Courts’ hostility to class action waivers in arbitration agreements...State AG investigation, UDAP enforcement, and follow on litigation…Predatory lending, discrimination, and suitability claims…National Bank Act preemption…TILA rescission…Prescreening actions and firm offer requirements…FDCPA violations…Security breach and FCRA identity theft cases…Wrongful foreclosure claims and adversary proceedings in bankruptcy court… RESPA class actions…

It’s no secret that this evolution has dramatically intensified the challenges of defending and managing these cases. And as financial services companies respond to these new risks and defend new causes of action, savvy plaintiff lawyers are working overtime to develop new strategies for bringing these complex cases. With all eyes on the industry, the stakes are higher than ever.

Yet in defending and managing these high-risk claims, defense counsel face a distinct UPHILL BATTLE:

1. Sheer volume of litigation – Organized, well-connected, and effective plaintiff attorneys filing large numbers of suits/theories and seeing what sticks, with the sheer volume of cases alone placing a huge burden on defense resources. Complaints now attack almost every technical and substantive aspect of loans, requiring a tremendous amount of time, energy, and money for a company to respond to and manage these claims.

2. Inequality of position with discovery – The burdens/costs of discovery fall disproportionately on the defense, becoming a weapon in plaintiff’s arsenal rather than a fact finding tool.

3. Negative public perception and bias against lenders in the current “mortgage crisis” atmosphere, jeopardizing your ability to get a fair jury trial.

4. Judges who decline to: place reasonable limits on discovery; dismiss frivolous cases/grant summary judgment; and supervise antics of counsel.

Given this evolution and uphill battle, there is simply no room for error in the defense of these claims. In response, ACI is proud to bring you the essential defense forum that will shape the future of litigation strategies for leading outside counsel & in-house counsel in the consumer finance industry: 8th Annual Conference on Consumer Finance Class Actions & Litigation. Through a faculty of 24 distinguished in-house counsel, as well as renowned outside defense counsel and jurists, this conference will provide even the most seasoned attorneys with critical insights and practical strategies needed to protect your client in this complex arena and keep him/her up to date on the emerging claims and prepared to roll out the most strategic defenses.

Speaker:
Julia B. Strickland, Partner
Stroock & Stroock & Lavan LLP

Topic:
Suitability/Structured Unfairness Claims: Defending Against Allegations that Unsuitable Loans Were Made by Unscrupulous Lenders/Brokers
- Examining emerging suitability principles in the lending context
- The application of a suitability standard to the lending industry – how to refute the arguments put forth by consumer advocates and the best industry counterarguments to use
- Factoring in recent state and proposed federal legislative approaches that address the concept of suitability for lending
- The position of the federal regulatory agencies that oversee financial institutions and what it means for your litigation tactics
- Lessons learned from the current lawsuits that are advancing concepts of unsuitable mortgages
- How to utilize “unintended consequences” when arguing against the imposition of a suitability standard
- Examining the role of the broker in selecting loan programs: fiduciary duty and apparent agency issues for lenders