Practising Law Institute's 15th Annual Consumer Financial Services Institute
PLI New York Center
810 Seventh Avenue at 53rd Street
New York, NY 10019
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 seminar website and registration form. (New York, NY)
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.
Credit Card Developments & Retail Banking Developments and Payment Issues
• 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
Julia B. Strickland, Partner
Stroock & Stroock & Lavan LLP
Introduction and Opening Remarks
Class Action Developments and Settlements & UDAP Update
• 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
Current Hot Issues
• Auto lending issues
• Student lending issues
• Home Affordable Modification Program (HAMP) impact
• Payday and auto title lending, including cross-border and Internet lending