CFPB & Enforcement in 2014
Overview:In this two-hour LIVE webcast, a panel of distinguished professionals and thought leaders will help compliance; mortgage & finance personnel understand the important aspects of this significant topic. They will provide an in-depth discussion of CFPB & Enforcement in 2014. Speakers will also offer best practices in developing and implementing an effective policy and ensure compliance with securities laws.
Key topics include:
- CFPB & Enforcement in 2014: an overview
- Key trends and issues
- Penalties for non-compliance
- Best practices
- Up-to-minute regulatory updates
Dwight Smith, Partner
Nelson Mullins Riley & Scarborough LLP
Brad Rustin, Attorney
Nelson Mullins Riley & Scarborough LLP
- History and background of the CFPB
- Jurisdiction of the CFPB
- Covered entities
- UDAAP Powers
- Relationship of CFPB to other regulators
- Statistical analysis of complaint data
- Analysis of recent rule making
- Analysis of recent enforcement proceedings
- Current issues under consideration in the next few months
Benjamin P. Saul, Partner
Goodwin Procter LLP
- CFPB focuses on student lending, including filing suit against for-profit college and extending its supervisory authority over nonbank student loan servicers
- Fair lending and fair servicing continues to be an important focus for the CFPB
- Proactively managing the risk when outsourcing work to service providers, given the CFPB’s recent interest in ensuring that regulated entities effectively oversee their service providers
- CFPB’s use of UDAAP against credit card companies that market add-on products
- CFPB is cooperating and sharing information with DOJ and federal and state regulator
Stephen A. Fogdall, Partner
Schnader Harrison Segal & Lewis LLP
- Real Estate Settlement Procedures Act & Affiliated Business Arrangement Position the bureau’s taking on old guidance and disclosure issues
Nancy Thomas, Partner
Morrison & Foerster LLP
Risk mitigation - how to avoid being the next enforcement target
- CFPB’s corporate good citizen guidance
- Strong compliance function and controls
- Response to regulatory inquiries
- Remediate problem areas
- Focus on hot-button issues
- Know the enforcement landscape
- Treat exams as a precursor to enforcement
Who Should Attend:
- Compliance and Ethics Managers
- Compliance and Risk Officers
- Compliance and risk professionals
- Compliance Managers
- Compliance officer
- Compliance Professionals
- Vendor oversight
- Internal Audit
- Internal Auditors
- Mortgage business line personnel
Dwight Smith is a partner of Nelson Mullins Riley & Scarborough LLP in Washington, D.C., where he focuses his practice on bank regulatory and consumer finance matters. He began his banking work during the savings and loan crisis and its resolution during the late 1980s and early 1990s, experience that set the stage for his practice during the recent financial crisis and its aftermath. During more stable periods in the industry, he has advised on both the institutional and consumer sides of banking. His clients include community, regional, and large banks and thrifts across the country and nonbank consumer finance companies. He has advised banks on such consumer products as mortgage loans, credit and debit cards, and short-term loans. He also represents both individuals and institutions in formal enforcement proceedings.
Dwight Smith is a partner of Nelson Mullins Riley & Scarborough LLP in Washington, D.C., where he focuses his practice …
Brad Rustin is an attorney in Nelson Mullins Riley & Scarborough LLP’s Greenville, South Carolina office. His practice focuses on bank regulatory and consumer finance issues faced by both state- and federally- regulated institutions. He began his career as a litigator defending consumer finance entities, money services business, and financial institutions. Following in the wake of the fiscal crisis, he began working with financial institutions, money transmitters, non-traditional lenders, check cashers, and mortgage brokers on issues of regulatory compliance. He now advises state and federal financial institutions and money services businesses in issues relating to consumer compliance, operational compliance, BSA/AML/USA Patriot Act compliance, lending compliance, and mortgage servicing compliance. His clients include community, regional, and national banks across the United States and money services businesses across the southeast. Most recently, he has focused extensively on compliance issues surrounding mobile stored value, banking, and lending platforms as part of the firm’s mobile payments initiative.
Brad Rustin is an attorney in Nelson Mullins Riley & Scarborough LLP’s Greenville, South Carolina office. His practice focuses on …
Ben Saul is a partner in Goodwin Procter’s Consumer Financial Services Litigation Group and a leader in the areas of consumer financial services enforcement and fair and responsible banking. Mr. Saul has a nationwide practice representing financial services and individual clients in high-stakes administrative enforcement and criminal matters, private civil and class action litigation, and parallel proceedings involving private litigants and federal and state enforcement authorities. He also conducts corporate internal investigations and advises clients on compliance issues and programs.
Mr. Saul has extensive experience representing clients in matters involving the Consumer Financial Protection Bureau (CFPB). He has also represented clients in matters involving the Congress, DOJ, HUD, FTC, SEC, federal and state banking authorities, and state attorneys general. Mr. Saul's matters have concerned a broad range of consumer finance issues, including marketing, lending, servicing and securitization practices as well as fair and responsible banking, credit reporting, and consumer privacy and data security.
Ben Saul is a partner in Goodwin Procter’s Consumer Financial Services Litigation Group and a leader in the areas of …
Stephen A. Fogdall is a partner in the Philadelphia office of Schnader Harrison Segal & Lewis LLP, and serves as Co-Chair of Schnader’s Financial Services Litigation Practice Group. His practice focuses on defending individual and class action claims under consumer financial laws and fair lending laws. He authored Overview of the Federal Regulation of Fair Lending, a volume in Bloomberg BNA’s Banking Practice Portfolio Series. He has also written numerous other articles on financial services issues for publications such as the Real Estate Finance Journal, Bloomberg Law Reports, and BNA’s Class Action Litigation Report.
Stephen A. Fogdall is a partner in the Philadelphia office of Schnader Harrison Segal & Lewis LLP, and serves as …
Nancy Thomas is a member and former co-chair of the firm’s Financial Services Litigation Practice Group. Her practice focuses on representing financial institutions in all types of class action and high-stakes litigation in arbitrations, trial courts and appeals. Ms. Thomas also represent banks and non-banks in regulatory investigations and enforcement actions, including proceedings before the CFPB, the FDIC, and the DOJ. She regularly counsels clients on compliance and regulatory matters, including remediation scoping and execution, UDAAP analysis, and vendor management.
Ms. Thomas is recognized by Legal 500 US as a top financial services litigator, and by Benchmark Litigation as a leading California litigator. She also earned a place on the Benchmark Litigation and Euromoney Media Group lists of the Top 250 Women in Litigation. Ms. Thomas is an editor and contributing author of the firm’s award-winning quarterly financial services newsletter.
Nancy Thomas is a member and former co-chair of the firm’s Financial Services Litigation Practice Group. Her practice focuses on …
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About Nelson Mullins Riley & Scarborough LLP
Nelson Mullins Riley & Scarborough LLP provides advice and counsel across the full range of legal matters, including litigation, corporate, finance, regulatory, and government relations. The firm is well known for its work on consumer financial services both through a substantial litigation practice and a financial institutions group that advises banks and nonbanks on significant consumer regulations, including those administered by the CFPB. With more than 500 attorneys and government relations professionals practicing from offices in Atlanta, Boston, Florida, Tennessee, West Virginia, Washington, D.C., and throughout the Carolinas and with more than 40 diversified practice areas, Nelson Mullins provides creative solutions to legal and business problems while offering value-added service to clients. Many Nelson Mullins clients—including growth companies, expanding local businesses, and major international companies—retain the Firm to provide all of their legal services.
About Goodwin Procter LLP
Founded in 1912, Goodwin Procter LLP is a leading Global 100 law firm, with offices in Boston, Hong Kong, London, Los Angeles, New York, San Francisco, Silicon Valley and Washington, D.C. We have one of the preeminent consumer financial services litigation and enforcement practice groups in the nation, as recognized by Chambers, US News and The Legal 500. Our team of industry specialists counsel and defend clients across a broad spectrum of consumer financial services matters, including regulatory counseling and examinations, government investigations, enforcement proceedings and litigation. We regularly handle high-stakes matters for many of the nation’s largest financial services companies, including prominent banks, mortgage companies, credit card issuers, student lenders, auto finance companies and insurers. For more information, visit www.goodwinprocter.com. Follow us on Twitter @GoodwinProcter.
About Schnader Harrison Segal & Lewis LLP
Schnader’s team of outstanding lawyers serves the complex litigation and transactional needs of both long established and newly emerging businesses, including those doing business internationally and in cyberspace. We also provide wealth management and an array of personal legal services to individuals.
About Morrison & Foerster LLP
Morrison & Foerster was founded in San Francisco in 1883. Today, with more than 1,000 lawyers in 17 offices across the U.S., Asia, and Europe, Morrison & Foerster offers clients a comprehensive platform of global legal services. The Firm is recognized for its depth and expertise in financial services litigation. We represent financial services clients throughout the United States in federal and state court matters, and have experienced financial services litigators resident throughout the United States, Europe and Asia. Our financial services clients include national banks, federal and state savings associations, commercial banks, independent and industrially-owned finance companies and limited purpose banks, mortgage bankers and brokers, insurance companies, and securities firms.