Consumer Finance Class Actions and Government Enforcement

Registration and Continental Breakfast

Chair’s Opening Remarks

IN-HOUSE COUNSEL ROUNDTABLES

How Corporate Counsel Are Managing the Latest Consumer Finance Claims, Class Actions, Compliance Challenges and Enforcement Actions and Examinations

Two panels of seasoned corporate counsel from the nation’s top financial services companies will discuss how they are managing today’s consumer finance claims and class actions, and will shed key insights on topics including:

• Recent trends they are seeing in consumer finance claims and enforcement actions
• Overcoming obstacles to resolving complex litigation challenges
• Evaluating the economic considerations of litigation and achieving efficiencies with reduced budgets
• Selecting and working with outside counsel to maximize the attorneyclient relationship
• Assessing settlement considerations
• Preparing for and managing federal and state government examinations, investigations and enforcement actions

Morning Coffee Break

Examining the Latest Activity of the CFPB, Coordination Amongst the Different Federal Agencies and What to Expect from Federal Enforcement Going Forward

• A survey of the latest enforcement actions by the CFPB and other federal agencies in the consumer financial services industry
  • What kind of trends are being seen?
  • How is the new CFPB handling restitutions?
• What priorities will the CFPB be focusing on under newly appointed director Kathleen Kraninger?
  • What to expect from federal enforcement actions, examinations and investigations going forward?
• Analyzing the status of the CFPB’s roll-back of the Payday Lending Rule
• Discussing the CFPB’s decision to stop examining financial firms for compliance with the Military Lending Act – what will the implications of this be?
• Assessing the status of the CFPB’s rules concerning debt collection, overdraft practices and small business lending
• Tracking the coordination among the various federal agencies relative to enforcement activity (FTC, FDIC, OCC, DOJ)

State Regulatory Insights on the Latest Developments, Investigations and Enforcement Actions

When the Trump administration began, the CFPB sent the message that they were going to be looking to the state regulators and states’ attorney general for a lot more leadership when it comes to enforcement of consumer protection laws. As such, in an effort to bridge the federal enforcement gap, the states have been ramping up enforcement actions in the consumer finance sector. Tune in as this panel of key state regulators discuss recent state law regulatory developments, enforcement priorities and how you and your company/clients should prepare to navigate the evolving state regulatory and enforcement landscape. Topics will include:

• How states’ investigative powers differ from each other and from those of the CFPB
• Recent state consumer finance enforcement activity
• Recent state efforts to influence federal consumer finance enforcement
• Federal preemption of state consumer financial protection efforts
• Preparing for state exams and investigations

Networking Luncheon

Recent Developments in Debt Collection Litigation and Enforcement: Identifying and Avoiding the Latest Risks

• Examining the latest trends in FDCPA litigation: what types of new claims are coming out of the plaintiffs’ bar?
• Analyzing the Supreme Court case of Obduskey vs. McCarthy & Holthus LLP regarding whether the definition of “debt collector” under the FDCPA includes attorneys who effect non-judicial foreclosures
• Assessing the recent heightened scrutiny of potential FDCPA violations
• Minimizing the risk of exposure to FDCPA claims
• Preparing for and managing actions taken by state attorneys general and federal and state regulatory agencies relating to debt collection processes
• Understanding the labyrinth of requirements stemming from inconsistencies in state licensing and registration requirements, persons subject to collection agency laws and the scope of the obligations imposed on debt collectors and creditors
• Preparing for the CFPB’s new proposed rules under the FDCPA
• How debt collectors can craft their internal compliance and auditing policies and procedures to minimize future litigation
• Understanding and making use of statistics and data related to debt collection litigation

Afternoon Break

Litigation and Settlement Trends Under the Telephone Consumer Protection Act (TCPA) and the Electronic Fund Transfer Act (EFTA): Evolving Technologies, New Plaintiff Theories and Emerging Defense Strategies

• Emerging trends in TCPA and EFTA claims, litigation and settlement
• Compliance concerns, enforcement trends and what to expect from the anticipated new guidance from the FCC
• Defense strategies for responding to the latest TCPA and EFTA claims
• Class action trends in TCPA litigation
• Analyzing the latest decisions determining what qualifies as an Automatic Telephone Dialing System (ATDS)
• What does the regulatory future of TCPA hold?
• Examining recent complications associated with applying EFTA to digital wallets, and how the CFPB’s new Prepaid Accounts Rule will clear those complications up starting in April 2019

Examining the Hottest Claims of 2019 Under the FCRA and ECOA

• Examining recent hot claims and class actions in fair lending and credit reporting
• Understanding how the state and federal agencies are most recently approaching credit reporting and fair lending issues
• Defending against the latest claims alleging credit reporting and fair lending violations
• Settlement considerations and strategies in these cases

Conference Adjourns

Registration and Continental Breakfast

FinTech and Consumer Finance: Analyzing the Latest Innovations, Compliance Challenges of the Bank Partner Model and OCC FinTech Charter, and the Rise of “True Lender” Litigation

• Assessing which FinTech products and services are having the greatest impact on consumer financial services, banking, alternative lending and payments marketplaces
• Discussing compliance challenges and recent claims trends associated with the latest FinTech initiatives
• What complications are being seen with regard to the bank-partner model and the OCC FinTech bank charter?
• Analyzing the latest cases rising out of the True Lender Doctrine and what their implications are for the consumer finance sector
  • Madden v. Midland Funding
  • CO v. Avant; CO v. Marlette

Navigating the Challenges of the Latest Data Protection Regulations and Proven Protocols for Breach Prevention and Response

Regulators are recently taking significant strides to protect consumers’ personal data, and as such, players in the consumer financial services space are being forced to modify their data-collection, notification and security protocols. As banks and non-bank payments companies have already been struggling with compliance challenges associated with the recent NY cybersecurity regulations, they are now also being confronted with the EU’s massive General Data Protection Regulation, as well as California’s sweeping Consumer Privacy Act of 2018 (the “mini GDPR”). Tune in as this panel provides key insights on topics including:

• Exploring the far reaching data and privacy implications of the GDPR on U.S. consumer financial services companies that collect personal data relating to EU individuals
• Assessing the latest data privacy legislation coming out of Congress
• Assessing the implications of California’s Consumer Privacy Act of 2018
  • What are the biggest challenges companies are facing with implementation and compliance?
  • The latest strides being taken by companies to seek legislative amendment of the CCPA
• Examining how the GDPR and CCPA are expected to drive up the costs of doing business and how consumer financial services companies can best manage and contain those costs while achieving protection of customer data
• What other states are following California’s lead in seeking to implement similar legislation?
• Proven protocols for breach prevention and response post-Equifax

Morning Coffee Break

Insights from the Plaintiffs’ Bar and Consumer Advocates

In this session, you will hear from leading plaintiffs’ attorneys and consumer advocates on the latest claims and settlement trends in consumer financial services litigation, as well as what types of actions plaintiffs’ counsel are focusing on now and how to prepare for and respond to new and innovative claims. You will also obtain key insights on how lenders and servicers can work with borrowers to minimize the need for litigation.

Class Action Litigation and Settlement Nuances

• Identifying common challenges arising in consumer finance class action litigation as well as key tactics and strategies for tackling and overcoming those challenges
• Evaluating class certification appealability
• Assessing recent court scrutiny of class action settlements, increased DOJ intervention and an increased willingness to overturn settlements
• The impact of recent Rule 23 amendments on class action settlements

ETHICS

Navigating the Ethical Grey Areas in Class Action Litigation – Considerations For Plaintiffs And Defense Counsel

In this session, attendees will gain a deeper understanding of ethical challenges related to litigation, government and regulatory compliance. Topics include:

• Identifying permissible communications with class and putative class members
• Examining how to avoid any appearance of improper conduct
• Ethical considerations in cy pres settlement negotiations, e-discovery dilemmas and attorneys fees

Conference Ends