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Course Details

Consumer Protection Provisions in the Dodd-Frank Act: Adjusting to the New Paradigm

Webinar: ID# 1018020
Recorded CD
Qty:
Consumer Protection Provisions in the Dodd-Frank Act: Adjusting to the New Paradigm
About This Course:
This training session covers the impact upon banks of the CFPB's implementation and enforcement of new consumer protection provisions.

About The Course

Title X of the Dodd Frank Act represents the most comprehensive consumer financial regulatory reform measures since the Great Depression.

Known as the Consumer Financial Protection Act of 2012, Title X created the Consumer Financial Protection Bureau, a new agency focused on the rights of consumers who purchase financial products and services.

It also created a whole host of substantive consumer protections. This topic will focus on three of the most significant consumer protections: (1) the prohibition on unfair, deceptive, and abusive acts and practices ("UDAAP"), (2) the authority given to the Bureau to prohibit or significantly limit the use of arbitration agreements in consumer financial product and service contracts; and (3) the mortgage origination and servicing provisions.

Agenda

Introduction
  • UDAAP
  • Who's Covered by the CFPB's UDAAP Enforcement Authority?
  • What Are Unfair, Deceptive, and Abusive Acts and Practices?
  • How Has the CFPB Used Its UDAAP Authority?
  • What Can Regulated Entities Do to Mitigate Their UDAAP Risk?
Arbitration
  • The Act's Mandate to the CFPB
  • CFPB's Studies-What They Found, and What They Did Not Find
  • The CFPB's Latest Proposal
  • What the CFPB's Direction Could Mean for the Financial Services Industry
New Mortgage Provisions
  • Overview of Act's Mortgage Provisions (QM, Ability to Pay, HMDA, Servicing Requirements, TRID)
  • Areas of Special Interest
  • TRID
  • HMDA
About The Presenters

Angela E. Kleine
  • Member of the Financial Services Litigation Group at Morrison & Foerster LLP’s San Francisco office
  • Focuses on complex civil litigation and enforcement, with an emphasis on defending and advising financial services companies in matters under banking, fair lending, consumer reporting, and unfair and deceptive acts and practices laws and regulations
  • Experience litigating and advising on matters under the Fair Housing Act, Equal Credit Opportunity Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act and state equivalents, Real Estate Settlement Procedures Act, Truth in Lending Act, and state unfair practices statutes, including California’s Consumer Legal Remedies Act and Unfair Competition Law
  • Experience defending companies in shareholder class actions, derivative actions and enforcement actions by the SEC and DOJ under state and federal securities laws, and conducting internal investigations on behalf of companies, boards of directors, and audit and special committees
  • J.D. degree, with honors, New York University School of Law; B.A. degree, biology, with honors, University of Chicago
James R. McGuire
  • Member and co-chair Morrison & Foerster LLP’s Financial Services Litigation Practice Group
  • Focuses on complex civil litigation with an emphasis on the defense of consumer class actions against financial services companies under the Truth in Lending Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, and state unfair practices statutes, including California’s Consumer Legal Remedies Act and Unfair Competition Law
  • Significant experience with the Federal Arbitration Act and the extensive body of federal laws governing the operations of various state and federally chartered financial institutions, including the Home Owners Loan Act of 1933, the National Bank Act, and the Depository Institution Deregulation and Monetary Control Act of 1980
  • Co-editor of MoFo ReEnforcement: The MoFo Enforcement Blog, providing insights and timely reports on enforcement and regulatory developments affecting the financial services industry
  • J.D. degree, McGeorge School of Law, University of the Pacific; B.A. degree, California State University, Sacramento
Nancy R. Thomas
  • Member and former co-chair of Morrison & Foerster LLP’s Financial Services Litigation Practice Group
  • Consumer class action and enforcement lawyer who represents financial services companies in court and in administrative proceedings
  • Represented banks, credit card issuers, mortgage lenders and servicers, and other financial services companies in high-stakes litigation in state and federal courts across the country, and in investigations and enforcement actions brought by the CFPB, the DOJ, the FDIC, and the California Department of Business Oversight
  • Regularly counsels clients on how to avoid litigation or enforcement, including remediation scoping and execution, and UDAAP analysis and compliance
  • J.D. degree, University of Chicago Law School; B.A. degree, Princeton University
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Consumer Protection Provisions in the Dodd-Frank Act: Adjusting to the New Paradigm
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