CFPB’s Arbitration Study: Understanding Its Impact on Financial Institutions
Overview:In this 2-hour live webcast, a panel of key thought leaders organized by The Knowledge Group will provide an overview to help you understand the critical elements and the potential effects of CFPB's Arbitration Study to financial institutions.
In a two-hour live webcast, the speakers will discuss:
- CFPB’s arbitration study (Dodd-Frank Act): an overview
- Potential impacts of CFPB’s Study on financial institutions
- Emerging issues
- Conclusions, recommendations and predictions
- Up-to-minute regulatory updates
Joy Harmon Sperling, Partner
Day Pitney LLP
As part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, Congress instructed the CFPB to study the use of pre-dispute arbitration clauses in contracts for consumer financial products/services. Congress instructed the CFPB to prepare a report with the results of the study.
As of now, the CFPB is in the process of conducting the study, and in December 2013, the CFPB published its preliminary results.
Presentation will cover the preliminary report and findings, and any updates.
James R. McGuire , Partner
Morrison & Foerster LLP
- Arbitration Study
- The CFPB’s Rulemaking Authority
- Arbitration Study: Expected Outcome
- Rulemaking Timeline
- Limits on the CFPB’s Authority
- Impact: 12 C.F.R. § 1026.36(h)
- Impact: Alternative Limits
- Impact: Two Classes of Customers
- Impact: Pitfalls
- Impact: Current Steps
- Potential Challenges to a CFPB Rule
- Challenges: Regulation Arbitrary and Capricious
- Challenges: Flawed Cost-Benefit Analysis
Anthony M. Sharett , Partner
Bricker & Eckler LLP
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
- And other Related/Interested Professionals
Joy Harmon Sperling is a partner at Day Pitney LLP and chair of its Creditors' Rights and Real Estate Litigation group. Her practice primarily involves representing consumer lending institutions, such as banks and mortgage lenders, as well as investors and servicers, in connection with the defense of claims by borrowers in individual and class-action claims throughout the nation. Her practice includes the defense and prosecution of mortgage fraud claims, along with the litigation of numerous cases involving federal and state lending regulations,(e.g. the Truth in Lending Act, Real Estate Settlement Procedures Act, Home Owners’ Equity Protection Act, and Fair Debt Collection Practices Ac) as well as common law causes of action relating to the origination and enforcement of residential and commercial mortgage loans. Ms. Sperling also represents banking institutions in commercial collection and foreclosure matters.
Joy Harmon Sperling is a partner at Day Pitney LLP and chair of its Creditors' Rights and Real Estate Litigation …
James McGuire is Co-Chair of the Morrison & Foerster’s Financial Services Litigation Practice Group. His practice 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.
Mr. McGuire also has 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 Institutions Deregulation and Monetary Control Act of 1980.
James McGuire is Co-Chair of the Morrison & Foerster’s Financial Services Litigation Practice Group. His practice focuses on complex civil litigation …
Anthony Sharett is a partner in Bricker & Eckler’s Litigation practice group, co-chair of the Class Action practice group and he leads the Consumer Financial Services team. He regularly defends financial institutions against regulatory actions and consumer led litigation in individual and class action matters.
Anthony represents clients in enforcement, regulatory, and supervisory matters involving state agencies, the Federal Reserve, the OCC and the Consumer Financial Protection Bureau. He is the founder and editor of the blog, financialserviceslaw.com focused on matters that impact the consumer financial services industry.
Anthony is a 2009 through 2014 Ohio Super Lawyers’ Rising Star. He has authored several published works on topics relating to the mortgage lending industry, the CFPB, and case updates. Anthony is a frequent speaker nationally on consumer financial services topics.
Anthony received a Bachelor of Arts in Political Science from Ball State University and a Juris Doctor from The Ohio State University Moritz College of Law.
Anthony Sharett is a partner in Bricker & Eckler’s Litigation practice group, co-chair of the Class Action practice group and …
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About Day Pitney LLP
Day Pitney is a leading full-service regional U.S. law firm with a more than 100-year reputation for superior client service and high-value legal representation. With close to 300 attorneys in nine offices across New Jersey, Connecticut, Massachusetts and Washington, DC, the firm is well-positioned to provide clients results-based representation and forward-thinking solutions to complex litigation, transactions and regulatory matters throughout the Northeast. Day Pitney clients range from Fortune 100 corporations to individuals. At the heart of its practice are middle-market companies in all stages of development from start-up to maturity. The firm’s lawyers have in-depth experience in a wide array of industries, most notably in the financial institution, government, insurance, manufacturing, energy and real estate sectors. Day Pitney has one of the largest and most sophisticated individual clients practices in the country.
About Morrison & Foerster LLP
We are Morrison & Foerster — a global firm of exceptional credentials. With more than 1,000 lawyers in 17 offices in key technology and financial centers in the United States, Europe and Asia, our clients include some of the largest financial institutions, investment banks, and Fortune 100, technology and life science companies. We’ve been included on The American Lawyer’s A-List for 10 straight years, and Chambers Global named MoFo its 2013 USA Law Firm of the Year. Our lawyers are committed to achieving innovative and business-minded results for our clients, while preserving the differences that make us stronger.
About Bricker & Eckler LLP
Located in Columbus, Cleveland, Cincinnati-Dayton and Marietta, Bricker & Eckler is one of Ohio’s leading full-service law firms. Our attorneys serve as trusted business advisors for businesses, financial services companies, nonprofit organizations, government agencies, health care facilities, school districts and municipalities, and individuals.
At Bricker & Eckler with close to 200 attorneys, we are large enough to provide effective and sophisticated counsel across a wide variety of industries and areas of practice, while also delivering highly personalized service and access to our most experienced attorneys. Reflecting our Midwestern roots, the firm is recognized by our clients for integrity, hard work and value for the dollar.