Consumer Finance Class Actions & Litigation

Registration and Continental Breakfast

Co-Chairs Opening Remarks

In-House Roundtable: How Corporate Counsel Are Dealing with Consumer Finance Class Action & Litigation, Costs, Legal Spend, Compliance Cost, and Retaining Outside Counsel – PANEL 1

Break

In-House Roundtable: How Corporate Counsel Are Dealing with Consumer Finance Class Action & Litigation, Costs, Legal Spend, Compliance Cost, and Retaining Outside Counsel -PANEL 2

Regulatory Enforcement and Examination Roundtable: The View from Federal and State Agencies and Attorneys General on New and Emerging Initiatives, Enforcement Actions, Examination Procedures, and Investigations

• Assessing the types of investigations and actions that are being brought against financial institutions
• What are the biggest areas of concern for federal agencies and state attorneys general right now?
• Pitfalls to avoid when working with federal agencies and state attorneys general
• What to expect during an examination
• Regulatory enforcement and examination perspectives
• How will the CFPB, the FTC, and other federal agencies coordinate investigations, enforcement actions, and settlements with state agencies and attorneys general?
• Intended impact of Dodd-Frank if it gets repealed and where financial institutions can expect changes
• Effectively responding to investigations

Networking Lunch for Speakers and Attendees

Examining the Large Uptick in Fair Credit Reporting Act (FCRA) Cases, Correlation Between Bankruptcy Filings, and Inaccuracies with Consumers’ Credit Reports

• Trends in FCRA and examining the large uptick in FCRA cases
• Correlation between bankruptcy filings decreasing and FCRA cases increasing
• Finding any real or alleged inaccuracies with consumers’ credit reports
• How do you prove accuracy of credit report? – battle of experts? Combating allegations credit report wasn’t done properly and another different report would have been better
  • Determining whether FICA score determines credit score
  • Examining whether consumer harmed with inaccurate credit score

The Telephone Consumer Protection Act (TCPA): Text Messaging Violating TCPA, FCC Order on TCPA, and Recent Court Opinions

• Emerging trends and developments in TCPA litigation
• Compliance concerns, enforcement trends, and recent FCC guidance
• Evolving issues relating to consent and revocation of consent under the TCPA
• Defense strategies for combatting the new wave of TCPA claims and class actions
• Overcoming TCPA challenges and limiting TCPA exposure in the face of complex and unclear rules
• How technology can be used to minimize your exposure to TCPA claims
• 9th Circuit Court decision on text messaging giving Article III standing
• Analyzing consent and scope of consent
  • Reasonable expectations of consumers
  • What constitutes revocation?

Afternoon Break

FDCPA: Compliance Challenges, Litigation Trends, and Innovative Claims

• Implications for first party creditors in addition to the third party debt collection industry (covered by the FDCPA)
• Handling of loss mitigation in light of these developments
• Interplay between State and Federal laws
• Trends in FDCPA litigation
• New and innovative FDCPA claims from the plaintiffs’ bar – and how to defend against them

Residential Mortgage Servicing Issues (Proper Disclosures, Charging Fees, Disclosing Fees), Foreclosure Challenges, and Origination Nuances

• Residential mortgage class action and settlement trends
• Non-bank mortgage servicing litigation and enforcement actions
• Duty of care owed to borrower by loan servicers
• Recent activity under RESPA
• Ongoing impact of the CFPB’s mortgage rules
• Foreclosure challenges based on alleged statute of limitations lapses
• Loan modifications and foreclosure
• Responding to challenges to foreclosures in non-judicial foreclosure states
• Mortgage origination – pricing mortgages, disclosures to consumers, marketing issues
• HMDA and related mortgage lender practices
• Servicers’ challenge with complying with FCPA with borrowers bankruptcy and sending monthly statements violates FCRA and FDCPA as required under RESPA

Conference Adjourns to Day 2 Cocktail Reception Hosted by Katten

Continental Breakfast

Chair’s Welcome and Recap of Day 1

Views from the Bench

Consumer Finance Class Action Litigation and Settlement Trends and New and Emerging Procedural Consideration Including Ascertainability of Class and Class Members, Offers in Judgment, and More

• Assessing the evolving landscape of class litigation
• Overview of recent noteworthy class action cases and settlements
• What is now required in order to obtain or defeat class certification?
• Issues relating to the ascertainability of class and class members
• Evaluating recent developments relating to Rule 23(b) class certifications
• Recent developments in class action law and their impact on consumer finance litigation
• Examining lower courts’ ruling on Campbell on Rule 63 offers of judgement
• Using statistical evidence of class cases
• Denying class certification – Microsoft v. Baker

Morning Break

Payday Loans, Small Dollar Lending, and Litigation and Enforcement Trends Related toCompanies Offering Advancements on Settlement Payouts to Consumers

• CFPB’s payday loan rule
  • determining extent of ability of creditors to provide credit
  •  focus on APR but realizing overhead costs for lenders
• Companies offering payment in exchange for purchasing piece of settlement when and if the case settles
  • Is this product considered a loan extension of credit or a purchase of an asset
  • Does the CFPB have authority to regulate and enforce in this area?
  • CFPB v. RD LEGAL

Future of CFPB Decisions With New Administration, Fallout from the PHH Case, Arbitration Clauses, and Issues Stemming from Self Reporting and Voluntary Investigation

• What is the impact of the CFPB and its leadership with new administration?
• Continued fallout from the PHH case
  • Constitutionality of the CFPB
  • Interpretation of referral fee and kick back
• Self-reporting and voluntary investigations
  • CFPB’s published guidelines for self-reporting

Privacy and Security Issues Related in the Finance Industry Including Examining the Emerging Trend with Biometrics, NY’s Cybersecurity Regulation, and Data Breaches

• Trends associated with biometric litigation
  • fingerprint and retina scans in the place of PIN
• What are banks doing in terms of investing in this type of research and development
• Il Biometric Act
• Assessing new and emerging cybersecurity and data privacy threats to the consumer financial services industry
• How data breaches are impacting financial services companies
• Assessing the importance of third-party risk management and oversight in light of cybersecurity and data privacy concerns
• Best practices for outside counsel and law firms regarding how they manage personally identifiable information (PII)
• Potential for law firms to face liability arising from data breaches and cyber attacks
• Cyber insurance considerations for financial services companies and law firms
• Status of coverage claims arising from cybersecurity flaws and data privacy breaches
• Assessing the coverage gaps
• NY’s First in the Nation Cybersecurity regulation

Spotlight on Securitized Trusts in Residential Mortgages and Homeowner Bill of Rights (NV and CA)

• Yvanova case on securitized trusts, assignments, and lack of standing
  • big issue in California when loans in securitized trust formed back in 2007 and 2008 and foreclosures taking place in 2014
• Intended impact of the end of the Homeowners Bill of Rights until end of this year
  • loan modification and servicers obligations and responsibility

Conference Ends