Managing Class Action Risks for Financial Services Firms: 2016 Perspective
A number of recent Supreme Court and federal Circuit Court decisions have the potential to dramatically alter the class action landscape, particularly for financial institutions and 2017 promises more of the same. Arbitration, Article III standing, including mootness and injury, the use of statistical data in class certification, and CAFA removal are just several of the issues that are the subject of recent developments. Additionally, the Consumer Financial Protection Bureau (CFPB) has proposed banning class action waivers from arbitration clauses in consumer financial contracts. Under the proposed ban, companies in the financial services industry would still be allowed to include arbitration provisions in contracts. However, those contracts must contain a provision stating that if a consumer files a class action lawsuit against the company, the arbitration clause will not be enforced until the court rules against the class claim. The CFPB’s proposal could significantly impact banks and other consumer financial services as it might lead to a major increase in class action litigation. This program is geared towards litigators and in-house counsel who are involving in managing class action litigation. It will cover the latest developments in the law of federal class actions, as well as strategic advice from leaders in the field.
Key topics include:
- CFPB Proposed Rulemaking on Arbitration Agreements
- Recent Class Action Litigation Trends
- Drafting Arbitration Clauses for Consumer Financial Contracts
- Tips for Effective Compliance Practices
Kenneth Johnston, Attorney
Kane, Russell, Coleman & Logan, P.C.
- Can you use contracts to avoid class actions?
- Using arbitration to avoid class actions
- How long will safe harbor exist for financial services firms?
- Counseling clients on the compliance side
- Managing the compliance risk – some companies more effective than others
Jennifer L. Gray, Co-Chair, Consumer Financial Services Litigation
Greenberg Traurig, LLP
- Supreme Court 2015-2016 class action highlights and recent developments
- Use of Statistical Evidence in Class Action Litigation
- Fair Lending Litigation
- Update on Arbitration Waivers
- FinTech Class Actions
Paul J. Ferak, Shareholder
Greenberg Traurig, LLP
- Overview of class action risks and trends in 2016
- Pre-Litigation Preventative Measures and Strategies
- Reducing and Eliminating Risk in Litigation
- Settlement Strategies
Who Should Attend:
- Attorneys in Banking and Finance
- Class Action Litigators
- In-house Counsel
- General Counsel
- Financial Services Firms
- Bank and Financial Institution Executives
- Chief Financial Officer
- Other interested and related professionals
Jennifer is a shareholder at Greenberg Traurig, LLC and Co-Chair of its Consumer Financial Services Litigation Practice Group. She represents financial institutions in civil litigation and regulatory enforcement matters. She has significant experience defending class actions arising under a broad range of federal consumer protection statutes, including FCRA, FDCPA, RESPA, TILA, EFTA, ECOA, and TCPA. She also defends clients in cases involving state unlawful and deceptive practices acts and other state laws.
Prior to joining Greenberg Traurig, Jennifer held senior in-house litigation positions at several large financial institutions, where she gained in-depth knowledge of the consumer finance industry and consumer finance products. While in-house, Jennifer oversaw class action litigation and managed in-house litigation management processes. She has experience with a wide range of legal issues affecting the industry, including fair lending, loan origination and servicing, repurchase issues, vendor management, HOA liens, reverse mortgages, among others. With this background, Jennifer brings a practical, insider’s perspective to representing and advising clients in litigation and litigation avoidance.
Jennifer is licensed to practice law in California, New York, and New Jersey. After graduating from Rutgers Law School - Newark, Jennifer clerked for the Honorable Daniel H. Huyett, III in the United States District Court of the Eastern District of Pennsylvania. Jennifer then practiced at several large New York-based law firms, where she represented financial institutions and other clients in antitrust litigation and enforcement matters and other complex civil litigation. Jennifer is a frequent speaker and author on consumer finance and banking topics. She also serves as an editor of Greenberg Traurig’s Financial Services Observer blog.
Jennifer is a shareholder at Greenberg Traurig, LLC and Co-Chair of its Consumer Financial Services Litigation Practice Group. She represents …
Paul Ferak is a Litigation Shareholder in Greenberg Traurig’s Chicago office. Paul is a member of the Firm’s Financial Services Litigation and Class Action Practice Groups. He regularly defends financial institutions in material matters across the country. In recent years, Paul has served as lead or co-lead counsel in cases venued in more than fifteen states. He has served as lead counsel in significant class action matters.
Paul has substantial experience defending financial institutions in disputes involving bank accounts, check fraud, electronic fund transfers, and mobile banking. He regularly handles matters alleging violations of the Fair Credit Reporting Act, Fair Credit Billing Act, privacy laws, and state consumer fraud statutes, as well as allegations of lender liability. Paul is a member of the Trial Bar of the U.S. District Court for the Northern District of Illinois. He is a frequent speaker on banking topics, focusing on defense strategies and emerging issues.
Paul Ferak is a Litigation Shareholder in Greenberg Traurig’s Chicago office. Paul is a member of the Firm’s Financial Services …
Mr. Johnston, a Director of the Firm, practices in the Financial Services, Litigation, Insolvency & Creditor Rights, Oil and Gas Sections. He routinely represents financial institutions in a variety of
matters, including general bank operations, material defensive litigation, and credit risk management.
Mr. Johnston also practices in the Firm's Energy and Investment Fraud Sections. He regularly represents individual and corporate investors in oil and gas fraud matters. He has developed significant expertise in both investigating and prosecuting claims for large investor groups arising from Ponzi schemes, as well as more mainstream disputes involving investment promoters, syndicates, and boiler-room operations.
Named by Law & Politics as an outstanding young lawyer in 2006 – 2008 Texas Rising Stars magazine, a designation given to lawyers under 40 who are viewed by their colleagues as preeminent in their respective practice areas; also published in Texas Monthly and online at superlawyers.com.
Mr. Johnston, a Director of the Firm, practices in the Financial Services, Litigation, Insolvency & Creditor Rights, Oil and Gas Sections. …
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About Greenberg Traurig, LLP
Greenberg Traurig, LLP is an international, multi-practice law firm with approximately 1900 attorneys serving clients from 38 offices in the United States, Latin America, Europe, Asia, and the Middle East. The firm is among the 2015 BTI Brand Elite and among the most “Tech Savvy.” It was on the 2013-2015 BTI Client Service 30 listings of firms “most recognized by clients for providing excellent client service,” and one of the 2014 BTI Client Relationship Scorecard “Power Elite,” based on the nature and strength of its client relationships.
About Kane, Russell, Coleman & Logan, P.C.
Kane Russell Coleman & Logan PC is a full service law firm with offices in Dallas and Houston. Formed in 1992 with five lawyers, today KRCL has more than 95 attorneys. The Firm provides professional services for clients ranging from Fortune 500 companies to medium-sized public and private companies to entrepreneurs. KRCL handles transactional, litigation and bankruptcy matters in Texas and throughout the country.